Consumer Proposals Articles - Archive: April 2007

If I Co-Borrow (Co-Sign) on a Mortgage with my Common Law Spouse and then later I opt for a Consumer Proposal is the house affected at all? I have significant debts and am self-employed and am on the verge of having to bail myself out in some way. Preferrably not bankruptcy. My spouse has a [...]

Hi, I filed a 5 year proposal in January 2004. I have a small RRSP for $1200 (this is not my only RRSP). I would like to cash this in when it matures this November and put it towards the final 12 months of my proposal to pay it off a year early in January [...]

If I make a Division I proposal which is accepted and many months later I run into problems which temporarily reduces my income , do I get any leeway with the payments? Or will I be forced into bankruptcy for the original amount plus interest? Example: I make a proposal to pay 1000 dollars a [...]

Certain websites that I have been browsing suggest that once the debt goes to a collection agent it may be better to offer to settle the debt for a low percentage threatening them that bankruptcy may get them even less rather than actually going through with a consumer proposal or bankruptcy. Example: You have 50K [...]

My husband and I are separated – do we both get to keep a vehicle valued at $5650 if living in Ontario?? My vehicle\’s value is under $5000 – so I don\’t have to worry – but my husbands is approx $15,000.00 if he chooses to keep the vehicle – will he have to buy [...]