Question: i recently had a consultation with a trustee,it would cost me 350 dollars a month in order for me to declare bankruptcy. i cant afford to pay 350 dollars. what other options do i have?
Answer: You have a number of other options. First, if the trustee has quoted $350 per month, it is likely that you have surplus income, or other assets. If you have no surplus income or assets the cost of bankruptcy is generally less than $350 per month.
One option would be to try credit counselling, where a credit counsellor works out a plan for you to repay all of your debts in full, at a reduce or zero rate of interest.
If you can’t afford to repay your debts in full, a consumer proposal is another great option for avoiding bankruptcy and giving you a fresh start.
