Consumer Proposals Articles - Archive: September 2007 Page 2

Hi and thanks for this site. Just a quick question. On some forms and/or applications, it may ask if you have ever declared bankruptcy and you have to check off `yes.` If you do a consumer proposal, do you have to also have to check off `yes`? Thanks!

I want to do a proposal as I owe a total of about $40,000 to different creditors. I don`t like the idea of Bankruptcy. Can I negotiate to repay 30% or 40% if I can guarantee to all my creditors that I can pay within a 1 year period? Also are there any recommended trustee [...]

I am currently ina proposal for the last 15 months on a 48 month proposal. My husband requires dental work that is not covered by my benefits. Is it possible to get a personal loan to cover these costs, maybe with a co-signer?

I have an income which will allow me to repay a back tax debt at a rate of approximately 1000.00 however they did not agree and have now garnished all my retirement income which means I have no choice but consider bankruptcy. What are my options here? I do not wish to lose my house? [...]

I am considering filing a consumer proposal. I am unemployed, but my husband is willing to enter into a third party agreement to pay the proposal. My concern is this, if the proposal is not accepted, am I automatically forced into bankruptcy?…or can I just continue to not answer the phone?

I have looked into filing a consumer proposal in ontario but am shocked at the amount of money it costs to do so. I\’ve been told I need to pay $1200 during the 45 day waiting period. Usually people who are considering bankruptcy or proposal don\’t have money which is the reason why they\’re filing. [...]