Consumer Proposals Articles - Archive: September 2007

I currently have a car loan, it is a private agreement with in house financing. I have been paying 265 per month, i still have 10 payments. If i do a consumer proposal, can they take my vehicle. there is no lein, just a handwritten promissary note.

Hi my wife and I have just under $75,000 in debt including student loans. We have a truck loan that is secured and we can`t loose the truck as we live 30 mins from Medicine Hat. We need some advice for a Consumer Proposal, how it works, how long it takes to set up, If [...]

If I come into unexpected money from being a benifcary in a will…Will that money be taken from me if I am in a comsumer proposal, or if I claim bankruptcy?

When I filed a consumer proposal all my tax filings were up to date and `accepted as filed` by CRA, no money was owing, and so they were not listed as a creditor. A year after my discharge CRA audited me as I showed little income for several years and disallowed all my business expenses [...]

I got into serious financial trouble late last year after an accident left me badly injured. I have stopped paying creditors starting February 2007. I had a discussion with a trustee in April 2007 regarding a Division I proposal , I put off taking any action on it till today. Today I was served a [...]

Recently this site responded that most creditors would prefer a 36 month consumer proposal period rather than 1 year. In my situation, a 21 month 1st time bankrupt with surplus income, bankruptcy is still worth less than a proposal. Can you explain this please. For me, the earlier it ends would be great. Just to [...]

hi can you do a consumer propos after the bills have gone to collection and judgements,

Hello, I filed a consumer proposal and now paying like $500/month (4 more years) and I don`t owe any of my creditors anymore. I want to speed up the process of paying them instead of waiting for 4 more years. Then the credit repair years for another 3 or 4 years so it totals to [...]

If I do not list a creditor when doing a proposal in bankruptcy can they collect after the proposal?

I filed a consumer proposal March 2006. I have a student loan that is 10 years old. I recevi3ed a letter from the federal government that under the Bankruptcy Act my canada student loan was paid to the financial institution. Now the financial institution is coming after me stating that I owe a `federal risk [...]