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January 26, 2017, 06:47:49 PM »
I am in a lot of debt. Some was created by me being stupid the rest by disability. I owe about 30000 in credit card debt. I have a 7 year old car,rent an apartment.
I have 900 in a tax free savings account and 9100 in a rrsp.
My problem comes in with some land that is co owned with 4 other people. The way we have it set up is the last man standing is the one to inherit the land. I have nothing else.
Do you think it's possible for me to file bankruptcy.
My income is less than 2000 month so no extra would have to be made on excess payments. As it would be a first bankruptcy I think it would be discharged in 9 months.
Could anyone give me their opinion on this
Reply #1 on:
January 26, 2017, 10:02:52 PM »
I owed $46K in credit card debt and went with a proposal. My total debt was reduced to $14,500 or $250/month payable in 58 months.
My plan is to pay it off earlier than that by making extra payments.
You need to talk to a trustee asap. There is hope!