Consumer Proposal: A Way to Negotiate with Your Creditors and Avoid Bankruptcy

1-888-823-8239

Consumer Proposals Articles - Archive: December 2008

The latest Consumer Proposal related questions, with our experts' responses

I am thinking that I may need to either fiel bankruptcy or a credit proposal. My wife`s business is in big trouble from teh economic meltdown. She will likely have to go bankrupt and we have many shared debts. I owe total about $60k that includes joint with her. B/c she has lost her income […]

Filed under: Consumer Proposals
Posted on Tuesday, December 30, 2008
box listanswered by Questions @ 3:38 pm 1 Comment

I`m one year into a Consumer Proposal. I have to admit I`m happier than I was a year ago. The down side is working only in cash limits my ability to make any transactions via the net or phone – all companies require a credit card. Even small purchases like books online require a credit […]

Filed under: Consumer Proposals
Posted on Monday, December 29, 2008
box listanswered by Questions @ 10:58 pm 1 Comment

If i am thinking about bankruptcy or a consumer proposal and i continue to use my credit cards before seeing a trustee, when i do go to file a proposal or bankruptcy-how does this factor in. Are consumer proposals rejected based on using credit cards before. I m really using my cards to purchase gas, […]

Filed under: Consumer Proposals
Posted on Tuesday, December 23, 2008
box listanswered by Questions @ 4:55 pm 1 Comment

I have a good income but a very high debt load which now i am onlly able to make minimum payments to my credit cards and i find myself every month using what i can and maxing them out again. I often have taken cash advances such as 100 to 300 dollars. i have heard […]

Posted on Friday, December 19, 2008
box listanswered by Questions @ 4:59 pm 1 Comment

I just want to clarify something… One of my debts was co-signed by my father. Is there any hope of getting this in a consumer proposal or is the bank able to get out of this and collect from my father (even if over 75% of creditors agree with the proposal)? Thanks Posted from: British […]

Filed under: Consumer Proposals
Posted on Friday, December 19, 2008
box listanswered by Questions @ 2:55 am 1 Comment

I have a Consumer Proposal and have been paying it for 33/36 finishes in 3 months $425.00 When filing it was for 335 for 36 months payable for 12,060. I call my trustee to confirm that my file will be finished in 3 months (File was sold to another trustee) I found out the the […]

Filed under: Consumer Proposals
Posted on Tuesday, December 16, 2008
box listanswered by Questions @ 11:08 pm 1 Comment

I owe $22,000 and have no assets that I can offer to pay back my debts. I quit my job. One of my freinds recomended a proposal or a bankruptcy when I asked him for a loan. Can I offer to pay $500/month for one year only (it will amount to 27% of total debt) […]

Posted on Tuesday, December 16, 2008
box listanswered by Questions @ 2:28 pm 1 Comment

Can I opt out of a consumer proposal & change to banruptcy after the proposal has been accapted Posted from: Ontario

Filed under: Consumer Proposals
Posted on Wednesday, December 10, 2008
box listanswered by Questions @ 8:39 am 1 Comment

Is there any idea of when the $250 000 debt limit for consumer proposals will come into effect. Will the problems with parliament happening right now postpone the date even further into the future? My husband and i currently owe about $160 000 in unsecured debt and I am also wonderering how often is division […]

Filed under: Consumer Proposals
Posted on Monday, December 8, 2008
box listanswered by Questions @ 2:04 am 1 Comment

My ex-wife did a consumer proposal on our joint credit card debt, totallying $8000, together with her personal debt. The total consumer proposal that she did is 17500, paying 350 per month over the period of 5 years. However, because the 2 credit card debt`s were joint, the creditors are asking for me to pay […]

Filed under: Consumer Proposals
Posted on Friday, December 5, 2008
box listanswered by Questions @ 3:06 pm 1 Comment