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Question: Bankruptcy or Proposal?

Looking for people who have filed either in Canada (Ontario would be best) and trying to find the best advantages or disadvantages. besides the obvious Credit Score what was your experience? owe $27,000 which i cant afford to pay, learned my lesson but now a proposal which reduces it to $15,000 seems like a way out...but then with bankruptcy i only have to pay like $2000 and can save that extra $13,000 for myself......please help with your experience! thanks

Answer: This is hard to answer for you as it depends on many factors. You say that by going bankrupt will cost you just 2,000 which will give you an extra 13,000 for yourself. However, you should maybe think of how you would view the situation if it was yourself that was owed the money !!!!!!!!

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