Other solutions | File a Consumer Proposal
Also known as the “Lacombe Law,” this solution applies only to residents of Quebec.
It consists of making a monthly payment to the Court which is determined based on your gross income (before taxes) and number of dependants. To settle your debt, you must disclose your total debt amount excluding any debt related to the mortgage of your home(s) and those related to a guaranteed loan for your vehicle. Disclosing your debts allows for determining the period in which you will be required to make monthly payments based on your income.
To give you an idea of a voluntary deposit calculation, here is an example:
$500 per week is your gross income
– You will be allocated a weekly deduction of $180, as you have a dependant
Your weekly balance for the calculation of the voluntary deposit is therefore $320.
To proceed with the voluntary deposit, the Court will order you to pay 30% of the balance, i.e. $96 per week.
There are a number of potential solutions, depending on your situation and objectives. It is never too late to begin a process to implement solutions. It would be my pleasure to meet you so you are equipped to get out of an uncomfortable situation.Contact me