Consumer Proposals Articles - Archive: January 2009

I am about to file a consumer proposal, and am midway through a 5-year mortgage. I have made all my mortgage payments on time, and will continue to do so. My mortgage broker has told me to be careful, because the company that wrote my mortgage has gone bankrupt and is trying to dump high-risk [...]

Hello, My wife and I are thinking of doing a consumer proposal as we are having financial problems. We had our first meeting with a trustee and showed them the income we made etc…Now my wife is currently just starting a daycare and only has one kid so her income is not very high. It`s [...]

I filed a consumer proposal about 2 months ago. The other day I recieved a letter from Service Canada advising me I owe them about $4000 in EI overpayments. I am not able to repay this…. am I able to amend my proposal to add this debt?? Please help. Posted from: Alberta

My husband and I are in the first year of a 5 year proposal. Would it be possible for us to get a mortgage with a strong co-signer while we are in the proposal? We have our own home, but its a builder take back mortgage with no renewal after 3 years. So we would [...]

My mortgage is up for renewal in July of 2011. I have a perfect payment history and expect I always will. I was considering doing a consumer proposal (I have too much credit card debt for my income to support), and consulted with my mortgage broker first. She told me there was absolutely no way [...]

What options do I have after I have filed a consumer payment and been paying for over a year but have now become unemployed and cannot make payments? Posted from: British Columbia

I am considering consumer proposal. I owe about $70,000 to credit cards. My take-home pay is $2600/mo. The credit was used to capitalize my business, which is running steadily and has been for 5 years. However, I have never been able to get out from under the debt load. The interest alone is almost $900/mo, [...]

Can a creditor decide not to be included on a consumer proposal by not submitting proof of claim? What if they did not submit proof of claim? Can this be settled at another time? Can I choose to pay them on my own? Thanks. Posted from: Ontario

I have been paying in to a consumer proposal for three years now and though it was finished, but I was told that I need to paid up to 5 years. At the start the amount was increased but I knew nothing about the 3 to 5 years. Right now I have paid more that [...]

I filed a consumer proposal in April and have just received a letter stating that my proposal has been annulled for non-payment, the reason being that my payment was due on the 30 of December and was not received, but I tried to make my payment only to find that the office where I was [...]