REDUCE YOUR DEBT BY MORE THAN 90%
Consumer proposals can reduce your debts by more than 90%
There are no fixed rules regarding how much you should offer your creditors in a proposal beyond the notion that a proposal must improve on the returns that your creditors would get from a bankruptcy and must cover the trustee’s fees.
We have seen proposals (very rare) accepted that offer less than one cent on the dollar and we have seen others that require payment if 100 cents on the dollar plus 5% interest.
The average range for a proposal to be accepted by creditors seems to be 10-30% – but again each situation is different – to find out of a proposal is a good option for you, call the office to arrange a free intial consultation. 519-646-2222