What are the general guidelines if you are permanently disabled, your ratios don't work out and you want to file a proposal or OPD-consolidation since you don't want to file bankruptcy as much as humanly possible? My income hasn't gone up within ten years, on CPP disability pension. Pay approx $400-$500 a month in medication and get some money back from a drug plan almost two months after the expense is incurred. Have an excellent credit history R1 and have had credit card companies just send me pre-approved credit cards without applying for them. This has helped me cover my expenses over time but the balances have continually gone up. Used to own a house, sold it for health reasons a while ago. Married, wife now earns less money than she used to to have more time attending to me and our children. We have always believed our debts are to be paid since we incurred them but it is now starting to become evident that this is a downward cycle. My wife has had to take time off since her doctor said she couldnt drive due to vertigo and other health problems. Thank you in advance for your advice.

An OPD - consolidation Order payment can be calculated by adding up all of your unsecured debts and dividing the total by 42. The number you get would be the approximate payment for each of the 48 months of the program. If you would like more information about OPD, Credit Counselling Services of Alberta (who administers the program) can be reached at 1-888-294-0076.

A proposal payment is not as easy to calculate as it generally depends on your assets and how much money you have left at the end of each month after paying all of your living expenses. Payments under a proposal can be made for up to five years. I would suggest you talk to a Trustee such as Collins Barrow about your family debts and income to determine whether a proposal is feasible for you. We can be reached at 310-8888 in Alberta or check your yellow pages under "Bankruptcy".

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca