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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Voluntary Repossession and then debt Settlement

I can not afford to pay for my vehicle and travel trailer… Can I request a voluntary repossession and then pursue a debt settlement…. I owe more than $118000.00 which includes credit card debts… I also have a mortgage which I have not included as debts…

Posted from: British Columbia

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One Response to “Voluntary Repossession and then debt Settlement”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Technically this is a possibility, but with the size of debt you have a management plan is going to be costly. As a result you may need to contact a local trustee and investigate how the filing of a consumer proposal may bring the debt to a level that is more manageable in terms of monthly payments.