Consumer Proposals Articles - Archive: May 2007

I did a proposal back in the early 90′s and was sucessful in completing, now my income has been cut and my wifes cut in half can i do another proposal? i tried the consolidation loan route but now i’m seeing no headway and had to go back to the credit cards to make things [...]

I have recently made a Consumer Proposal and after 45 days one of the creditors voted for the proposal and two voted against it. Two creditors did not vote. My understanding when I made the proposal was that if a creditor did not vote, it counted as an approval of the proposal. But now I [...]

Hello, I would like to make a consumer proposal to my creditors. I left my job about six months ago to attend college. I made many cash advances from my credit cards during this time, expecting my husband to help me pay back my debt. Now we are separating. I have started looking for a [...]

I\’m considering a consumer proposal. I owe about $65k on credit cards and lines of credit. I don\’t have a steady job currently, although I expect to have one in the next few months. Will my creditors refuse my proposal if my income isn\’t stable, or my job is new? If so, could a family [...]

I have recently filed a consumer proposal. In the meantime, I have become ill and will have a $25,000 payout from a Critical Illness Insurance Policy. Must I include this money in the settlement? Is it considered a windfall? Must I declare that I am receiving this money?

Hello, I am currently in a consumer proposal and have been monitoring my credit rating. My concern is that I have noticed my FICO score has been lowering, but everything else in the report seems to be accurate. I will have a personal loan paid off this November, will this help raise that number?? What [...]

I have recently completed a consumer proposal (8 months ago) and I am in the process of rebuilding my credit. (I currently have a secured credit card) but I would like to purchase a car. Would it be better for me to wait until i have 1 solid year of credit history with my credit [...]

can you give me a rough idea of what to expect – if I hypothetically have $125,000. worth of unsecured debt – and I do a consumer proposal – and we agree to repay approx $50,000. what would the trustee fees be on this?? is it a percentage?? Also – we have an offer of [...]

we have shut down a failing business. The debt we have left is credit card debt, our government guaranteed business loan (SBL), some PST and some GST. Can GST, PST and our SBL be included in a consumer proposal with the credit card debt – or do they have to be treated entiredly separately?? Also [...]

A few years ago I filed a consumer proposal and it was completed and fully paid in 2005. Now in 2007, I am trying to apply for new credit but on some of the forms I\’m asked if I\’ve filed for bankruptcy in the last 7 years. I did not file for bankruptcy, it was [...]