If I have a consultation with a Trustee does it affect my credit?
I have been reading a lot about a consumer proposal and was wondering if it would cover all or part of my debts? The reason I ask this is that I need to keep my car so I can get to work so I can afford the proposal, so can I keep my car and continue to make my car payments or is it automatically lost.
posted by Questions @ 10:57 am
At June 23, 2008 |
12:49 pm
, Barton Goth GCO Bankruptcy Trustees Said...
A consultation with a trustee doesn’t influence your credit in any way. You would have to proceed to the next level and sign legal documents for a proposal or a bankruptcy before your credit would be affected.
In terms of all or part of your debt, it must include all your unsecured debt, but it is typically possible to arrange to pay your secured creditors and therefore keep the vehicle. For more information on this you are best to contact me directly as your proposal simply needs to be worded a specific manner to do so.
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