Debbie and her Debt

rebeccamartyn1Guest commentary by Rebecca Martyn, Bankruptcy Trustee and Consumer Proposal Administrator

Debbie’s story is fairly typical: She’s a single mother, with a daughter in school.  She has a good job, but when I met with her in my Windsor consumer proposal office she told me she had more debt than she could handle, but she didn’t want to go bankrupt.  You can read her full story in my article on Why did Debbie choose to file a consumer proposal?

For Debbie, there were three reasons for choosing a consumer proposal over bankruptcy:

First, she had a fixed payment, so she new exactly what she would have to pay each month.

Second, she gets to keep her RESP, which is important for her daughter’s education.

Third, she gets to keep her tax refund.

For Debbie and her debts, a consumer proposal was the perfect solution.

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