I am paying 500 interest a month and about 1500 off the balance as well.

How long doe's the debt settlement stay on the credit report 3 years instaed of 7 for proposal?

Is that $500/m you are paying reducing your balances or is it going completely towards interest on those credit cards?

Without knowing details, settling that debt with our program would cost approximately $600-670/m over 36 months or about $22-25k in total. You could call our office for an accurate quote by clicking the link in my signature below.

A consumer proposal is administered by a bankruptcy trustee, it is worse to your credit rating and you loose total control of your money because the trustee handles your assets/liabilities. You also have to be insolvent so its the last thing you do to try to avoid bankruptcy.

For even a remote quote you need to talk to a trustee because their plan's cost is entirely dependant on knowing the details of your cash flow and total debt load including secured debts like a mortgage etc.

I owe about 20000 on my amex and another 20000 on my bmo mastercard.

I wanted to do either a comsummer proposal or debt settlement, i have no assets at all.

Any idea how much i could get this debt reduced to, i am paying 500 month interest!