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Example Consumer Proposal Payment Plan

Could you give an example as to cost breakdown or payment plan, re the Consumer Proposal and alternatives please.
Subject is 67; still working, plans to continue as long as able; earns $14.50/hr full time, plus is receiving CPP and OAC. Total debt is $55,000,is barely squeaking by with minimum payments; is credit cards (paying interest on interest etc.), plus small car loan.
Thank you, for your time,

One Response to “Example Consumer Proposal Payment Plan”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

This is difficult to talk about specifics without a little more information than is provided. But for example, I was working on a proposal with a similar level of debt and a net monthly income of $2,700. In this example we were able to offer $23,000 inclusive of administration fees and it was to be paid at the rate of $479.17 over a period of 48 months. But remember every case is different.

If you have any quesions about this feel free to call me, while I am in Edmonton, I don’t mind going through things even if you are in a different part of the province. My toll free line is 1-800-267-6015 or alternatively you can find someone who services your area of Alberta through the following link: Alberta Trustee’s