FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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 Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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What to bring to a meeting.

Just wondering what items I should bring to an initial meeting with a Trustee. My spouse and I completed a Consumer Proposal earlier this year and now I have to deal with remaining debt (30,000 student loan that is now over 10 years old and GMAC). I am unemployed, and would like to file another proposal (my spouse agrees to make the payments to avoid bankruptcy). We started RESP’s about 6 months ago, and I have the statements of account for those, as well as our mortgage statements, and our Property Assessment. What am I missing?

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One Response to “What to bring to a meeting.”

A licensed trustee said...

If your student loans are now more than 10 years old, you have the right to apply to the Court to have them retro-actively included in your proposal. It is not a common procedure and your trustee may not be familiar with how it is done, but you shouldn’t have to file a second proposal on your student debts (since you’ve already done so).

I raise this issue because without the student debt, you may be able to negotiate something directly with GMAC and therefore you won’t have to file again. It’s up to you, but I think you should investigate this option before you commit to another proposal.