Alternatives to Bankruptcy Articles - Archive: September 2009

We are looking at the option of credit counselling for our debt problems. With our unsecured debt of approximately $40,000 we feel that is the repayment amount we can afford, about $660 per month. If we went the consumer proposal route our payment would be alot less and much more comfortable, about $200 per month. [...]

I have $80k in credit card debt and would like to know if it is better to offer a proposal than declare bankruptcy, now that new limits will be taking effect? My annual income $72k and I would pay a penalty for declaring bankruptcy. I could manage a repayment in a consumer proposal. Could my [...]

I heard that CMHC is usually sleeping at the wheel when it comes to collection after a bank makes a claim on a default mortgage and foreclosed home. If CMHC does not take action within the 2 years (in Alberta) to collect, is it correct that there cannot be and further proceedings? Where does day [...]