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By: Bankruptcy Winnipeg  09-12-2011

Question:This is my first time filing for either proposal/bankruptcy

  • have a total unsecured debt of $70,000 (between husband/wife)
  • has mortgage balance of $296,000
  • house valued at $304,000
  • car loan of $38,000
  • vehicle valued at $28,000
  • net monthly income is $5300 (joint)
  • utility/bills total is $4800

1. will we be able to keep both our house and car?

2. how much would we have to pay a creditors for in a proposal/bankruptcy? long will we be in a proposal/bankruptcy?

thank you

The information in this article was current at 06 Dec 2011

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