Steps in a Consumer Proposal. 
Step #1 of 5: Consultation with the Trustee (Continued)

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Couple in Meeting

Proposal Rules:

Cannot owe more than $250,000, excluding house mortgage (if more than $250,000 is owed a Division I Proposal is available);

Term cannot be for more than 5 years;

Must be filed with a trustee in bankruptcy;

Creditors must be better off than if you go bankrupt;

"Better off" can mean that payments are made monthly over time;

A third party such as a relative puts up a lump sum to be paid only if the creditors accept the proposal.

 

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Information:

Steps in a Bankruptcy;

Steps in a Consumer Proposal

Consumer Proposal
(Avoiding bankruptcy);

Bankruptcy FAQ's;

Debts that are Erased;

How Long in Bankruptcy;

Cost of a Bankruptcy;

Bankruptcy Exemptions;
(Assets you keep in a bankruptcy or proposal)

Credit Bureaus and Collection Agencies;

New Bankruptcy Laws;

Privacy Policy;

Disclaimer;

Free Credit Report.


After Bankruptcy:

Budgeting Spreadsheet.
(Free Excel Spreadsheet for personal budgeting)
Our Offices:

100 Mile House

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Nelson

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Squamish and the Sunshine Coast

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Vernon

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Whistler and Pemberton

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Income & Expense Form
(Send to Trustee each month)

Application Form.
(Take this to your meeting with the trustee)