Consumer Proposals Articles - Archive: January 2009 Page 2

My brother is mentally ill and is now on disability for his psychiatric condition. His wife has met with a trustee and depending on the appraisal of their home (on which they have a second mortage) they may be able to make a consumer proposal or given the reduced income may have to file bankrupcty. [...]

I understand that to be eligible to file a consumer proposal you: – Must be a person (businesses may not file consumer proposals) – Must be insolvent – Must have total debts (excluding the mortgage on their principle residence) of less than $75,000 Would I be considered insolvent if I have $50,000.00 in an RRSP? [...]

Would I be able to use one of my credit cards that still has credit available after I file for a Consumer Proposal? Also, under the most current law, has the debt limit on a Consumer Proposal been increased from $75000 to $250000? Posted from: British Columbia

I have recently filed consumer proposal over the past couple of months. The other day I received a statement from Alberta Health Care showing that they had put a credit towards the amount I owed them due to my assignment in bankruptcy. I only owed them about $180 and I did not list it with [...]

After a consumer proposal is paid off, can I repay a loan (less monies received from CP) that was included in the original consumer proposal after it has been satisfied? Posted from: Ontario

I am going to be filing a consumer proposal soon. What are the trustee fees? IE if my total debt is about $51 000 and I will be offering $350.00 for 4.5 years is it reasonable that the fees would be in the $5000 range? with about $13 000 going to the creditors. Posted from: [...]

I filed a consumer proposal in August 2008. I have recently learned that had my trustee filed a provisional income tax return for me to the Canada Revenue Agency, that my income prior to the proposal date will not be taxed. Is that correct? Posted from: Ontario

I am seriously thinking about a credit proposal, I own my own vechicle I have been paying it off faithfully never missing any payments. I have only 1068.00 to pay on my car loan and it is paid off. Do I get to keep my car I have to get to work and back and [...]

I have completed my consumer proposal this past summer and I am looking to purchase a vehicle. I have $6,000 for a downpayment and a trade-in as well. With the current tight credit market in Canada will this impact my chances to obtain financing for a car or would it best to wait until the [...]

If my spouse and I file for a division 1 proposal and it is not acceptaed and we are then automatically bankrupted-how are the fees for the consumer proposal paid for. Then would we have to pay extra trustees fees for the bankruptcy. Are both fees put together???? Posted from: Manitoba