Considering Consumer Proposal
Hi, I am in Canada Unfortunately my Work visa ended in March so I was out of work for a few months and before that I took a month or two off to study for my exams, so this Depleted all my savings and My credit cards are maxxed out… Scotia, BMO, Triangle, Amex, PC and fairstone…. Fortunately I just got a new visa and a job so i can support myself But the debt is just too much at this point and i have been considering consumer proposal for a few months…
I never thought it would come to this as i only kept credit cards as a worst case scenario but unfortunately it has come to this…
Biggest issue is that I know i can’t payoff this debt if keep doing a job so I have a side hustle I wanted to do to earn more money which is Video editing and content creation I have been learning it since last month.. I needed some high gadgets for it so I bought pretty decent ones as they can serve me well for a few years…. Now I need some advice on how i can get my proposal approved I don’t mind my credit score getting ruined because When my side hustle starts paying off I can make everything back … but for the next year I am pretty tight…
I know creditors will check my recent purchases and it would raise red flags but it was necessary for me to invest in my venture and take risk … I hear they check your last 4-5 months history …Should I stop using my credit cards and keep paying minimum balance for a few months to make my history look clean ..?
What are the chances my proposal will be approved..?