Consumer Proposals Articles - Archive: March 2009 Page 2

I have $30,000 in credit card/consolidated loan debt and I`m considering a consumer proposal. I feel Bankruptcy is not an option because I have student loans, and I`m aware they they don`t discharge for like 7 years. I was wondering if Citi, HBC, CIBC, and TD Canada Trust are ok with consumer proposals? I was [...]

I just had my consumer proposal accepted, and want to know if I can get a secured credit card while in the proposal. I travel for work occasionaly, and it would be difficult without a card. Thanks. Posted from: Ontario

Hi, I have recently lost my full time job and working only about 20 hours/week. I have 45000.00 in unsecured debt. I cannot afford to pay all my payments on time. I have met with a financial counsellor who has advised me that my income tax will be taken like in a bankruptcy as well [...]

I have approx 200k in credit card dept. I also have approx 200k in equity. Can I sell my house and offer a lump sum of 100k (half of my equity). I have heard that they will increase the consumer proposal limit for a couple from 150k to 250k. Should I wait? or or can [...]

I think a CP is the way to go for me but am concerned about the timing. I will be insolvent in a little over a month and am concerned that I have to renew my mortgage within the next month. Should I wait until I renew and keep my payments on my unsecured dept [...]

I have a business registered under my name as a sole propreitorship and it has become necessary to file a proposal. The business still generates cash flow and has the potential to continue doing so. Currently it is my only source of income. Is it necessary to change the business name to continue operating. Is [...]

My wife and I are around 70K in debt, inclucing a secured car loan for $33000. Unfortunately the vehicle is only worth around $15000. We thought about a CP, but decided… What is the usual timeline for a bank sueing, and a lien being placed? Should we file a CP before that? Posted from: British [...]

i owe over 50000.00 to revenue canada from a past business can i do a consumer proposal without my husband doing it too, they have put a len on my house Posted from: Ontario

I filed a consumer proposal a month ago. Today I received a letter from my mortgage company (GMAC) stating that because I have filed a proposal, my mortgage is now `in a default condition`, and, as such, they have the right to demand payment in full immediately. They further write that they will waive this [...]

Are My stocks at risk if I do a consumer Proposal? I`m sure that Stocks are considered na asset if I file for Bankruptcy. Posted from: Saskatchewan