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| Author: |
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Hilton |
| Date: |
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January 27, 2003 |
| Question: |
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I have approximately $50,000 in unsecured debt. Credit cards and line of credit. I am selling my home and expect to get about 10 to $12,000 to put towards the debt. I also have about $16,000 in a LIRA. Is there any way I can access it to put towards the debt? Or would a proposal be a better option. I am self-employed and gross approximately $50,000 annually.
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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January 27, 2003 |
| Answer: |
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A proposal may be a good option for you depending on your family size and monthly expenses. The proceeds from the house sale could be used in the proposal to help pay creditors. If the LIRA cannot be accessed by you then the creditors or the Trustee cannot access it either. I'd suggest you discuss your situation and options with a Trustee at a free consultation. Alger & Associates Inc. in Alberta can be reached at 310-8888.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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