Can I do a proposal for just myself or is husband’s automatically included? If I can do single, what about our joint debt? Since proposal for unsecured, what happens to secured? We have 2 leased vehicles and a mortgage. Can we continue to pay them or do we have to sell? Would our mortgage refinancing at term end (4 years left) be effected by having a proposal on other debt? Also, income is on commission. Base is only $1200/month. Usually make $2000/month. How is budget income determined for proposal? Thank you for your help.
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Most proposals are done individually. However, the downside is joint debt, if you file a proposal your name is ultimately removed from the joint debt but the other party is responsible to ensure that the debt is paid in full.
As for the secured debts, typically they are not involved in the proposal and if you want to keep the property in question (which you are typically able to do) you simply have to make arrangements with the lender to continue to make these payments.
In terms of the figures you would use for the proposal, ultimately you would use your typical income. This can often be determined by historically looking at your level of pay (including commissions) and from there estimatine what is anticipated to happen in a normal month.