2010-08-11
The amount you have to offer to your creditors in a formal proposal (i.e., this would be a Consumer Proposal or Division I Proposal made under federal legislation) depends primarily on your ability to pay, what you own, and how much you owe to your creditors. Creditors will typically be willing to accept a proposal that offers them more than they would get in a bankruptcy and at least 25 to 30 cents on the dollar after the costs of the process are considered. It's best to speak with a trustee to get an estimate of what you could expect your creditors to accept in settlement of the debt. Most proposals are a series of fixed monthly payments over a period of time. The payments are designed to be manageable based on your ability to pay. If you'd like to set up a consutation to find out what amount your creditors may be willing to accept, feel free to give me a call. There is no cost and no obligation to you and it's a good opportunity to get some information. Judy Scott - Trustee Port Moody - Burnaby - Maple Ridge, British Columbia 604-949-2113 [email protected]
2025-08-05
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
2025-08-04
Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.
2025-08-01
If you are considering filing for Bankruptcy, it is important to understand the impact on your employment and salary.
