Can I file a consumer proposal and if it did would it help?

Posted on Thursday, May 22, 2008

Email Us
Contact: (email or phone)
Message:

I am only 22 years old but I have serious money prowblems. There are 3 collection agencies calling constantly, each for different debts. I do have a full-time job, but it is not enough. I olso have an accoutn that is well into my over-draft protection.I need to know if I could file a proposal to my creditors, my debt is about $25,000 and I make about $2,900 after taxes each month.

Filed under: Consumer Proposals
 posted by Questions @ 7:06 pm
1 Expert Comment:

 At May 26, 2008 | 7:08 am , Barton Goth GCO Bankruptcy Trustees Said...

You can definately file a consumer proposal and from the sounds of it a proposal will likely result in a significant decrease in your total montly expenditures, remove the interest that is being charged and likely allow you to have all this resolved in a 3 or 4 year period.

The best thing to do is to contact a local trustee and they will be able to give you an idea of the anticipated monthly cost, length of time and explain the process in a little more detail.

Please type your comment below:

You must be logged in to post a comment.