Consumer Proposals Articles - Archive: March 2007

I have recently proposed to my financial institution a one time payment to settle my loans which are now in default. I am anxiously awaiting there response. Is this in fact, considered a legal consumer proposal, or do I have to make a proposal through a licenced trustee

Just wondering … what type of monthly expenses are allowed to be incurred when entering into a debt repayment or consumer proposal program. Am sure that things such as.. rent/heat/hydro/food/insurance/car payments, gas, and maintenance/personal care … would be allowed … but what about cell phone/cable/internet/medical expenses/clothing? Is there any where that I can find out [...]

I am currently taking part in a debt repayment program through our local credit counselling service. Because of a disability that is expected to be permanent, I struggle with trying to keep up with the payments. However, I don’t want to go the bankruptcy route if I can avoid it. Is it better to continue [...]

My husband and I are considering doing a joint consumer proposal. He makes roughly $70,000 annually, in the last year I have been unable to work outside of our home due to depression but I do odd jobs and have made roughly $8,000 last year. We have approximately $185,000 (at present) in unsecured joint debt [...]