Bankruptcy Vancouver and Alternatives Information Site » consumer proposal http://www.bankruptcy-vancouver.com Just another WordPress weblog Wed, 25 Jan 2012 10:02:23 +0000 en hourly 1 Proposal Vs Bakruptcy http://www.bankruptcy-vancouver.com/consumer-proposal/2007/10/proposal-vs-bakruptcy.html http://www.bankruptcy-vancouver.com/consumer-proposal/2007/10/proposal-vs-bakruptcy.html#comments Sat, 27 Oct 2007 21:31:00 +0000 Questions http://www.bankruptcy-vancouver.com/?p=10 Question: I owe approximately $50,000 to mainly one bank (loan + credit card). I have a job that is $2, 800 net after income tax. I would like to know if I can make a consumer proposal for a debt reduction and how it works? What will be approximately the percentage that is ussually granted in cases like mine.

Answer: It depends on the bank. At a minimum most banks want to get a minimum of 15 to 25 percent of their debt repaid, and perhaps more.

We suggest you contact a proposal administrator for a free initial consultation to review your situation and advise you on your best options.

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