Bankruptcy St. John's Newfoundland and Labrador » consumer proposal http://www.bankruptcy-stjohns.com Just another WordPress weblog Thu, 22 Dec 2011 21:33:18 +0000 en hourly 1 cant afford to go bankrupt http://www.bankruptcy-stjohns.com/bankruptcy/2009/02/cant-afford-to-go-bankrupt.html http://www.bankruptcy-stjohns.com/bankruptcy/2009/02/cant-afford-to-go-bankrupt.html#comments Sun, 01 Feb 2009 18:12:00 +0000 Questions http://www.bankruptcy-stjohns.com/?p=8 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.

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