Hello, I want to file a proposal but I am over limit. I was going to try to refinance my home, but I simply can`t get enough out of it to pay my debt, but was thinking if I took out a second mortgage I could pay off one of my credit cards, then have more of my debt as mortgages and then qualify for a consumer proposal. Will this work? Can you think of a better way to deal with this?
Proposal 75k limit
Posted on Wednesday, July 2, 2008
posted by Questions @ 9:22 am
1 Expert Comment:
At July 4, 2008 |
8:05 am
, Barton Goth GCO Bankruptcy Trustees Said...
The better way to proceed is to contact a local trustee and discuss with them the possibility of filing a Division I Proposal. This will allow you to effectively accomplish the same thing as a consumer proposal only you won’t be bound by the $75,000 limit.
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