Consumer Proposals Articles - Archive: August 2009

Firstly, thanks for the informative web site. I recently sold my home in the hopes of using the small equity towards debt repayment. After an excessive bank penalty and other fees I came out with only $6500.00. At this point I`m looking at a consumer proposal to pay 25-30% and also need to buy a [...]

I have 73000 in credit card debts. I will very soon fall behind my payments as our income has dropped. can I apply for a proposal or a settlement? Thank you! Posted from: Alberta

I am currently involved in a debt management program and have been advised to look into a consumer proposal. I owe 35,000 My husband knows nothing about how much i owe and we are currently seperated (not legally) we own several piece of property together and our home. 1. Does he have to know 2. [...]

I owe about 65k in unsecured debt. my payments are all up to date and i`ve had no late or delinquent payments. I`ve just been let go from my job i will not be able to afford to make even minimum payments … what are my options thanks Posted from: Ontario

My parents currently have quite a bit of unsecured debt between the two of them. They recently sold their home to try and use some of the equity to clear up some debt. However, even after doing this, they will still owe approximately 80K in debt. Also, my mum`s income has been reduced due to [...]

Once you have agreed to a monthly payment, can you pay off a proposal earlier? Posted from: Ontario

I`m returning my lease car in October and will be submitting a proposal in Sept for my non-secured debts. If the leasing company charges me excess `wear and tear` on the leased vehicle can that be included in a proposal/bankruptcy or would I be obliged to pay any extra fees? Posted from: Nova Scotia

I filed a Consumer Proposal in April/07, completed it in September/07 and have a clearance certificate dated February/08. Regarding my credit report, which date counts? Posted from: Nova Scotia

I did a proposal to creditors on July 2nd,2009, creditors meeting July 22, all parties agreed to proposal. I had contacted OAS to have my direct deposit changed to a cheque, June cheque came OK, July was direct deposited in my old bank in error. Is there any legal way I can get this money [...]

I am considering filing a consumer proposal but am wondering about my home equity. All of the unsecured debt my wife and I have is in my name so, only I would be filing, our mortgage is in both our names. Would I claim 1/2 of the equity in our home (because my wife is [...]