Consumer Proposals Articles - Archive: April 2009 Page 2

I have been in a proposal for 2 years paying on time as agreed. Mortgage is fina and all else as I budgeted except…I had never heard of payday loans until last year when I was searching for a way to obtain instant liquid cash as I don`t have credit. I got involved in 2 [...]

From what I have read, it seems that the timeline to being fully released from your bankruptcy and able to start repairing your credit can be faster than doing a proposal. If you have been given a 5 year payment plan on your proposal, once paid you have a 3 year wait for the proposal [...]

My husband and I think that the smartest solution to our financial issues to for me to declare bankruptcy and for him to do a proposal (he has to be bondable for his job)but the bankruptcy expert we saw said that it would be more expensive for us than if we both did the same [...]

we own our truck which is 9 years old.will we be able to keep the truck if we file for a consumer proposal? Posted from: British Columbia

How soon into your proposal can you start rebuilding your credit? Is there no point in rebuilding until the 7 years are over? Posted from: Ontario

MY HUSBAND AND I ARE CONSIDERING A CONSUMER PROPOSAL. aRE CURRENT MORTGAGE (1ST) IS 26O,00.00.ARE 2ND IS 42,000.00. WITH NO EQUITY IN OUR HOME CAN WE KEEP OUR HOME?OUR 1ST MORTGAGE IS UP FOR RENEWAL IN MAY 2010 WITH GE MONEY WHO ARE NO LONGER DOING MORTGAGES IN BC, HOW WILL WE MANAGE TO GET [...]

Are RRSPs, LIRA and TFSA surrendered when filing Consuner Proposals? I am collecting EI benefits. Am I eligible to file CP? Posted from: Ontario

We recently file a divison 1 consumer proposal and it was accepted by our creditors. Looking at our current financial situation, we are almost certain we will not be able to make all of our scheduled payments. This will put us in default status. Having spoken to a financial planner, he suggested we get a [...]

I filed a consumer proposal in August of 2008. As part of the proposal I did a provisional return for 2008 up until Aug. I did not get an assessment for this and when I contacted CRA they said I had to do a full 2008 return. My trustee said that a reconciliation will be [...]

I successfully completed a Consumer Proposal almost two years ago. For some reason, one of the banks involved did not seize $20 left in a mutual fund RSP acount. The money sits there to this day and I get quarterly statements. My question is: Could I start to contribute to this fund again or would [...]