Considering bankruptcy, need some advice

  • 3 Replies
  • 2297 Views
*

DainaMist

  • Guest
Considering bankruptcy, need some advice
« on: July 16, 2015, 06:17:26 AM »
Hi there! I'm in a tough situation. I'm a single mother and am drowning in debt, not bringing in the income to pay everything. I'm barely able to buy essentials for my kid and myself. I want to get all my debts discharged which include credit card, vehicle and personal loans. I don't know where to begin. My monthly income is on and off.  I guess I don't have a choice other than declaring bankruptcy.

*

Bank-snoopy

  • Full Member
  • ***
  • 186
  • +1/-0
    • View Profile
Re: Considering bankruptcy, need some advice
« Reply #1 on: July 16, 2015, 08:47:35 AM »
I would suggest you make an appointment to speak with a Trustee
They will be able to review everything with you and decide if your better off doing  a bankrupcy or a consumer proposal

The appointment is free

*

DainaMist

  • Guest
Re: Considering bankruptcy, need some advice
« Reply #2 on: July 17, 2015, 01:05:24 AM »
Yeah..thanks for the suggestion. I did a soft search and I found about debt consolidation as an option. I was wondering if all my debts were consolidated and  if I had to pay a lower interest rate every month, I might be able to pay it off with the salary I get. I think that was a better option than bankruptcy. Well I'm meeting a trustee tomorrow (Kevin Thatcher Toronto). I hope I get a solution for this. 
« Last Edit: July 17, 2015, 01:07:08 AM by DainaMist »

*

Bank-snoopy

  • Full Member
  • ***
  • 186
  • +1/-0
    • View Profile
Re: Considering bankruptcy, need some advice
« Reply #3 on: July 17, 2015, 10:48:36 AM »
I tried the debt consolidation thing for a bit..

I noticed it was too challenaging and would still take very long
For me the consumer proposal was a better bet and it worked our well...
Had a 4yr plan that I paid in 1 1/2 years

 

Sitemap 1 2 3 4 5