Consumer proposal: GST and PST debts
June 1st, 2007 by Questions
I have pst and gst to pay off from a business that we shut down. Is it possible to include these in a consumer proposal that would have all of our personal credit cards??
also – with a consumer proposal – companies are not offered 100% of the amount owed – is this the case also with pst and gst??
One Response to “Consumer proposal: GST and PST debts”
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June 04, 2007 at 9:39 am, Barton Goth GCO Bankruptcy Trustees said:
Both GST and PST are debts that can be included and cleared through a bankruptcy or a proposal. As for the percentage recovery that is offered, in this case it sounds as if GST and PST will both be considered unsecured debts and share equally with all other unsecured creditors in any money made available for distribuiton.
The best thing to do is to simply contact a local trustee and with their help you can determine what a reasonable offer to your creditors would be.