Alternatives to Bankruptcy Articles - Archive: 2007

I recently had a consumer proposal with a trustee and due to layoffs I fell behind payments due to layoff and cut hours, and the proposal was anulled. My trustee made no attempts to inform me on other options such as changing my proposal so it would not be anulled. I don`t want to do [...]

How will it effect my repayment amount if I make alot less than at the time of filing.

I have filed for personal bankruptcy in the last few days – paper signed. Upon further sober thought I think the better solution for me would be a Consumer Proposal. Can I go back to my trustee and ask to go the Consumer Proposal route? They are closed until the first week in January so [...]

Reading on Consumer proposals, we have a joint situation where myself, wife and mother in law purchased our home together. We have about $30,000 equity in the house. We have $88,000 debt together. We don`t have enough equity to consolidate, but also don`t want to go bankrupt and lose the house. Our combined annual is [...]

Approximately 6 years ago my father co-signed for a $30,000 line of credit from my bank that I was to use for university and residence fees because they wanted me to have the `full experience`. All of the money was gone in a year and a half. We are struggling to make payments on it, [...]

can my child tax benefit be taken to pay for defaulted student loans? I know that my GST and income tax returns can be.

I have rrsps I cannot access because they are locked-In. Is there anyway bankruptcy trustees can access this money to pay creditors in lieu of going bankrupt in NS

When I make a Division I proposal can my spouse agree to make part of the payments as a loan to me? I owe about 170,000 and make about 1400 dollars per month.All the loans are in my name only. With that kind of income I probably cannot make a Division I proposal on my [...]

Recently this site responded that most creditors would prefer a 36 month consumer proposal period rather than 1 year. In my situation, a 21 month 1st time bankrupt with surplus income, bankruptcy is still worth less than a proposal. Can you explain this please. For me, the earlier it ends would be great. Just to [...]

Hi. I have been unemployed for some time and have 2 debts that are in collection with CBCL. One is for student loans and the other is from GMAC. I am considering going back to work now that my 2 children are in school full time. Will my wages be garnished as soon as I [...]