Alternatives to Bankruptcy Articles - Archive: 2011

i’ve had enough, permanetly ill, on a reduced income 1300/mthly. credit debt 50k$. mtg 30K+ 50K secured line of credit total =80K secured. min payments are unbarable. i DONT want to sell my home, no other assets or additional income, i don’t have much extra to live after…need help Posted from: Quebec

I owe $5000. Income $1703. monthly I was looking at orderly payment of debts. Do I qualify? Posted from: Ontario

If I defaulted on the payments on CP and went bankrupt, does the payments made already count in bankruptcy? and how? Thank you Posted from: Ontario

Hello, We have approx. $98,000 in debt and are finding that even though we are making payments of over 1200 per month (including interest) we are esentially spinning our wheels and it looks like we will be 8-10 years of these payments to get ahead – and that is if we can maintain this level [...]

Hi, My wife and I have accumulated a lot of debt. 80 K unsecured. We make our payments on time but are constantly getting deeper in debt. We have a mortgage and a car loan we also pay on time. There is not much equity in the house. We are making the minimum payments with [...]

My husband and I both have very good jobs. Last year he was unemployed for a period of time therfore fell behind. We have 25,000 in RSP Line of Credit Loan, We have 40,000 Line of Credit, 14,000 Credit card, 10,000 Credit card, two store cards totalling 3,000. We do not want to file bankruptcy. [...]

We have no surplus income, can we still file for a proposal to avoid bankrupcy and how much we will be paying monthly? We have no assets. Thanks Posted from: Ontario

Does a debt management plan affect your credit rating? Posted from: Ontario

I am a single mom on disability, I raise my 2 sons and myself on less then 1300 a month, I am desperately trying to get my life back in order financially. I have a few debts that ate pretty serious for someone in my situation I have 15000 credit card debt and a 1000 [...]

will a consumer proposal work with monies owed to our friends at Revenue Canada or CRA Posted from: Nova Scotia