Need Advice Please!!!

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bbch

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Need Advice Please!!!
« on: August 28, 2017, 07:42:21 PM »
I visited a trustee for the first time today, and she was helpful but very blunt, not empathetic and the appointment went by so quickly.

My debts are as follows:

OSAP: $50,000 (only finished last year so not eligible to be wiped with CP or BK)
CREDIT CARDS:
5,000 CBC
8500 (BMO)
LINE OF CREDIT:
6,000 (CIBC)

with a total of unsecured at 19,500 and with OSAP around 70,000

I was interested in doing a CP to get rid of all of the credit card debt, but I did not know that OSAP would be included in the voting and getting the payments.

My trustee said I could try to just do 100$ a month payments for the credit cards and hope that OSAP doesnt want in but said she doesnt want to give me false hope. Is this worth a shot or shouldn't even try it? Do OSAP always want in on the consumer proposals, even if I still have to pay my debts afterwards?

My only other alternative is bankrucy which I really want to avoid because I might have to use that in the future when OSAP will also be included to get rid of everything.

Consolodation loan MAY work but also have to pay 400$ a month for OSAP so not sure I can make much payments....

Any advice is so greatly appreciated, I am completely overwhelmed at this point.

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Wetcoaster

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Re: Need Advice Please!!!
« Reply #1 on: August 30, 2017, 06:55:48 PM »
Wish I could help but I know nothing about the rules regarding OSAP.

Hang in there!

 

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