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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

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One Response to “How can I find out if I qualify for a consumer proposal?”

A licensed trustee said...

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…