To be eligible for the insolvency protection application called a consumer proposal
A)you must be solvent and more than $200,000 in debt
B)you must be insolvent and more than $200,000 in debt
C)you must be insolvent and less than $250,000 in debt, excluding a mortgage on your principal residence
D)you must be solvent and less than $100,000 in debt
E)you must be insolvent and more than $100,000 in debt, excluding a mortgage on your principal residence

Question

Quizplus · Accepted Answer

To be eligible for a consumer proposal, you must be insolvent and owe less than $250,000 in debt (excluding mortgage on your principal residence). This means that your total debts are greater than the value of all of your assets.

To Be Eligible for the Insolvency Protection Application Called a Consumer