December 16th, 2008 by Questions
I owe $22,000 and have no assets that I can offer to pay back my debts. I quit my job. One of my freinds recomended a proposal or a bankruptcy when I asked him for a loan. Can I offer to pay $500/month for one year only (it will amount to 27% of total debt) because I want to start building my credit ASAP. Also not having a job right now, does that affect the creditors … I will get help from family and friends to make the payments in case I do not find a job immediately. Do they care (I mean if I fail to meet the obligations – its better for them – why would they object). I say this because I am confident I can manage this (even though the numbers dont add up) because my family and friends will be hlping me.
Posted from: Ontario