Consumer Proposals Articles - Archive: June 2009 Page 2

When do the creditors stop calling/ sending letters. Posted from: Ontario

First off thanks for offering such a great web site on this sensitive topic. I`m facing financial difficulties and running a now running a monthly deficit. I own a house (little equity) and lease a car with no late bill payments yet! I`ve contacted my real estate agent and thinking of selling the house (would [...]

What are my options after my consumer proposal was annulled due to 3 months behind in payments. Could not afford the payments. Unfortunately I have been bankrupt twice before and do not want to go through that again. Posted from: Ontario

I understand the limit may be raised to $250k from $75k – any idea when this would happen? Posted from: Ontario

As I understand it I would have to go the route of a Division 1 as I have a $150k in unsecured debt, with a decent income $120k per year, but I need to avoid bankruptcy at all costs (due to employment restrictions). I understand that if my Division 1 proposal is not approved I [...]

I am thinking of filing a consumer proposal, but I am unsure of the timing. I will be moving to the U.S. for school this fall, and a family member offered to loan me money for a downpayment on a cheap house there, which I will pay back when I sell the house down the [...]

I have roughly $35,000 in unsecured debt ( Credit card, Line of credit, Credit loan) and A $140,000 mortgage and a Car Loan (car loan is almost paid off, $1800 remaining).I have not worked in 9 weeks and counting due to a labour dispute with my employer. So basically I have no income other than [...]

My father recently passed away and I`ve received a modest inheritance of $6000 to be used for school and to help my mother if she needs it. If I file a consumer proposal will I need to forfeit it the same way I would if I filed a bankruptcy? Also if there is a chance [...]

Hi, I understand that this question is very broad-based and that the actual answer would depend on specific circumstances and ultimately the position of each respective creditors – but this is the question…… What is considered a reasonable or standard range of settlement when making an offer to creditors in terms of percentage of debt [...]