Consumer Proposals Articles - Archive: May 2008

Recently I have been looking into filing a consumer proposal. I bought my car about a year ago, and during my research into proposals I have come to the realization that my bank didn`t register a lien on my vehicle. I was charged the lien fee at the time of purchase, but I cannot find […]

If my proposal has been accepted, can I apply for a secured credit card or do I have to wait until my debt is paid in full?
Posted from: Alberta

If I were to file a Divisional One Proposal soon - would I also be able to claim any tax owing for current year Jan 2008 to the day I filed the proposal? Or is that only in a Bankruptcy? I currently owe them about 30K for 2007 and before and probably owe […]

If I file a 3 year $350/mth proposal but end up being able to pay $700 per month, I will be able to complete my proposal in 1.5 years instead. Is there any penalty to paying it off early?
Also, if it is finished in 1.5 years then it will be on my credit report […]

This is actually a follow up to an earlier post..
I had stayed in te U.S for a few years and had accumulated 35,000 dollars in credit card debt when I left the country in 1995. In 2008 I`am saddled with an approximate 180K Canadian debt.
If I declare bankruptcy will the U.S debt with […]

Hello,
I have credit card loan of 29,000 with CIBC Visa and another $5000 loan with MasterCard. My Monthlly payment is about $750+. I can no longer pay this monthly minimum payment due to living costs, since after paying the minimum payment, paying rent and utilities, I get nothing left over for living costs (i.e.: food).
If […]

how will it effect a joint LOC if i go cosumer propsal and my husband doesnt
Posted from: Ontario

As a creditor , should I be suspicious of any debtor who files a consumer proposal instead of bankruptcy?
What is the advantage , to a honest debtor , of proposing a settlement when he can walk out of the debts in nine months by declaring bankruptcy?
Either he has significant assets , significant surplus […]

I want to do a C.P. I have a personal loan, 2 credit cards (in my name, but he also has supplemental cards). We share a car loan, a mortgage and an unsecured line of credit. What would be the game plan here?
Posted from: Ontario

If a person has a car loan from Bank X, and this person realizes that the bank didn`t ever register a lien for the car that was purchased, what will happen to the car/loan if this person files a consumer proposal or bankruptcy??
Posted from: Alberta