Consumer Proposals Articles - Archive: November 2009

In 2007 in Ontario i filed a consumer proposal with a Trustee in Bankruptcy.We moved to B.C. in Mar./08 with the proposal complete. I could not find my tax receipts due to the move and misplacement of some items.I have tried to have the debt i owed which has now increased a lot due to [...]

I am going to file for a consumer proposal in the next couple of weeks, and if they don`t accept it i will file for bankruptcy. I just moved in with some friends, they are letting me live in their basement for free, when i file for consumer proposal or bankruptcy, do i have to [...]

I have been accepted to sponsor my wife to become a Permanent Resident in Canada, and I understand that this acceptance would be reversed and my wife`s application would be rejected if I filed for bankruptcy. Could I be considered in violation of my sponsorship agreement if I enter into a consumer proposal? While it [...]

My question is regarding consumer proposal. The proposal was paid in fulla year ago and my credit report still shows it. I do have a credit card and car loan that are always paid and zero balance on the card.My score remains in the 590 range and unable to get it above 600.How do I [...]

In your experience, why would a creditor not send in a proof of claim, or bother to vote at all. Do major banks do this? What if a trustee`s office just misplaced paperwork and then tells me `x` bank did not send in anything? Also, will the no-voting creditor offer a counter-proposal? Because, how would [...]

If a consumer proposal gets rejected, am I able to use another trustee to file for bankruptcy? How quickly must I do this? And will I have to pay my current trustee anything? Posted from: Ontario

If part of the mony is spent on gambling will it affect acceptance of proposal and how. What can you do before filling to be somehow sure that they will accept and if they don`t accept how much is charge for it in case u don;t get approwed. Thanks Posted from: Ontario

Does it matter how the money you owe is spent deciding acceptance of proposal Posted from: Ontario

Is there a guideline or an applicable debt ratio for figuring out what a consumer proposal repayment plan should look like to be acceptable to a creditor? For example, mortgages are usually approved if a borrowers debt ratio is within certain parameters. Is that same type of prinicple used when calculating what a manageable payment [...]

I read that in the consumer proposal the following items are exempt: Most pension plans, life insurance policies, and certain RRSPs. Which RRSPs? Life insurance: is Cash Surrender Value exempt? What about RESP? Posted from: Ontario