I just moved from Ontario to Alberta and I have considerable debt and am considering filing either a bankruptcy or a proposal. If I do, will it effect my wife`s credit rating?
I thought it may be necessary for you to know that We have a joint mortgage and very little equity. We have a joint Line of credit. and all our checking accounts are joint.
What would be best a bankruptcy or a proposal?
At June 18, 2009 |
11:33 am
, Bart Goth, Trustee in Bankruptcy Said...
The filing or either a bankruptcy or a consumer proposal are both good ways of dealing with debt, but which one is best is really more dependent on your situation.
The best thing for you to do would be to meet with a local trustee. With their help they will look at several aspects of your financial picture (cash flow, debt load, assets owned, job prospects etc.) and help you to determine what type of options fits your situation best.
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