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bankruptcy vs proposal

 

Posted on Sunday, November 26, 2006


If a bankruptcy and a consumer proposalboth take 7 years to clear your file why do a proposal? If you file for bankruptcy will you loose your car or home. If your car is worth not much and you barely have anything paid into your home is there a way not to loose them? Is there a place in Winnipeg free that you can go to for free monthly budgeting to see if you can manage on your own before you proceed with more permanent methods?

1 Comments:

  • At 7:30 AM, Blogger J. Douglas Hoyes, CA, Trustee said…

    In a bankruptcy you do lose some of your assets, and you are required to make a payment each month to the trustee, which increases as your income increases. Therefore, if you have assets, or have significant income, a proposal may be a better option.

    I suggest you contact a licensed trustee to fully explore your options.  

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