Has anyone else "been there" - consumer proposal? bankruptcy?? Not sure what to.

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My spouse and I have about $79,000 between us in unsecured debt. We contacted a debt management counselor but sadly that is not an option. We have decent incomes but with our secured debt we just could not afford to pay the monthly payment they suggested. We have spoken with a trustee but it seems like he too is suggesting a far greater monthly amount than we can afford. I had hoped that something around $800 per month for 5 years may be an option.  Feeling so discouraged and was hoping someone may have something to suggest.



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If you were to make this proposal it would be 60% of your debt which would be a very strong offer. Everything else being equal, even RBC would likely accept it. Is there a majority creditor? I'd speak to another trustee to get their thoughts.



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Hey, What did you decide after? Sounds like my satiation.


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