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| Author: |
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Gordon |
| Date: |
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March 2, 2005 |
| Question: |
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What is the best option for a couple that have $60,000 in debt,they make about 3k per month take home but they have assets in rrsp,vehicles and a house that has around $40,000 in equity, can they do a consumer proposal or is an informal settlement a possibility?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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March 3, 2005 |
| Answer: |
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An informal settlement may be feasible if you can get all creditors to agree in writing to accept your offer. Otherwise, a consumer proposal may be possible depending on the value of non-exempt assets and funds available after your day-to-day living expenses are paid. I'd suggest you come in for a free consultation to discuss the various options. You can call us at 310-8888 to make an appointment.
Ann Clarke
phone: (403) 296-2972
aclarke@alger.ca
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