Joint Proposal Possible?
July 31st, 2006 by Questions
is it possible to file a joint consumer proposal?
i have unsecured debts of about $95,000 and my wife has unsecured debts of about $45,000.Some of the credit card companies are the same but none of the accounts are joint. I am hoping this way i don\’t have to file a division 1 proposal and perhaps i would have a better chance of success.
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August 01, 2006 at 10:20 am, Barton Goth, GCO Inc. Bankruptcy Trustees said:
Yes a joint consumer proposal is definitely a possibility, but usually you must be able to demonstrate that the majority (or at least a portion) of your debt is joint. Now there are some instances where this is not an absolute necessity but it is up to your trustee. However, by filing a joint proposal there is no adjustment to the $75,000 rule, so if your debt is a combined $140,000 you would still be looking at having to file a joint Division One.