Before filing a proposal

In Anonymous Q & A, Consumer Proposals, Manitoba, Winnipeg by Questions1 Comment

I am planning on filing a consumer proposal within the next few months, in the meanwhile I have a number of important expenses (dentist, car repairs) that I simply do not have the money for as all my credits cards are above their limit, would it make sense to begin skipping my credit card payments since my credit rating is going to drop to R9 anyway once I’ve entered into the proposal? Can this have any negative effects on the terms of my proposal?


  1. Jillian Taylor-Mancusi
    Jillian Taylor-Mancusi

    It would appear that you are filing a consumer proposal because you cannot afford reasonable living expenses and pay off the debts you have accumulated. It might make sense to file the consumer proposal right away. This will allow you to have some breathing space to get your personal budget under control without actions being taken by the creditors.

    You have to ensure that the terms of the proposal allow you to continue to maintain a reasonable standard of living and allow you to pay for such ongoing expenses as dentists and car repairs.

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