How can I find out if I qualify for a consumer proposal?
I work as a mortgage broker, income has dropped significantly over past 12 months. I owe approx $100,000 ins unsecured debt and $20,000 to CRA. My income after business expenses is approx $2500.
How can I find out if I qualify for a consumer proposal?
Posted from: Newfoundland and Labrador
You are certainly eligible to file a consumer proposal, BUT based on your debt levels, you need to offer to $36 to $40K. That’s a monthly payment of $600 to $667. That’s a pretty high payment compared to your income. It might make more sense to consider filing bankruptcy…