Consumer Proposals Articles - Archive: February 2009

Can be possible to file a Proposal together with my wife,I`m late for proposal because one of my creditors transfer my debts to Collection Agency,I have very good income and I don`t wont to go bankrupt.Please help me with your answer before I go to meet the trust.Thank You Posted from: British Columbia

I heard that the limit was going to be increased by March 2009. Have you heard anything? Also, if you file a Consumer Proposal, do they take away credit cards you have already been approved for, but have never used? Posted from: British Columbia

I am a personal banker looking to file consumer proposal along with my husband. One of my husband`s debt is with the same bank who employs me. I am not a party in that loan. Would the whole process of our Consumer Proposal affect my job? Would it also affect my licence from Ontario Securities [...]

What is the minimum amount that might be accepted by creditors for a consumer proposal? I owe nearly $30,000 in credit card debt and my income is about $1,000 a month (sometimes I make a little more but nothing steady). I`d prefer a consumer proposal over bankruptcy but is that totally unrealistic? I could probably [...]

Once you see a trustee and you are waiting to see if your consumer proposal has been approved-do you keep making your regualr payments to your creditors during this time??? Posted from: Alberta

I am currently in a consumer proposal but want to purchace another home at relatively the same price as my current home is valued at. Both my wife and I have good paying jobs. Do you think it is possible for me to port my current mortgage or what are my options? Posted from: Ontario

I co signed my ex husbands truck loan and he defaulted. The credit union seized and sold the vehicle and are now garnishing my wages for the outstanding amount left owing. Can this be included in my consumer proposal as the vehicle was seized and now becomes unsecured debt? When I file for proposal does [...]

I owe around $90 000 and my husband owes $64 000 in unsecured debt. Is it possible for one spouse to claim bankruptcy and the other do a consumer proposal. We only have 1 credit card that is joint. how would surplus income be calculated with this situation. Also when calcualating debt for a consumer [...]

In a divisional Consumer Proposal situation who does the trustee work for- the debtor, the creditors or the courts? What guarantee does a debtor have that their advice is appropriate to their situation? Are communications in these situations confidential? Posted from: Ontario

I asked a question yesterday and I think it was misunderstood. What I was asking was if the cra was holding the proceeds from my home in trust until the taxes were done (I dont owe them and I am not a late filer) in fact they owe me money as well as the fact [...]