Consumer Proposals Articles - Archive: September 2009

I owed around $94,800 from different credit cards and line of credit. I`m worried now that I could not pay on time even the minimum amount due me. I`m willing to pay instead of bankcruptcy if only if my creditors will reduce the minimum amount that I could afford to pay on time. I`m working [...]

my ex has filed a consumer proposal, what happens to a judgement I have against him for arrears in child support Posted from: Quebec

I am a creditor, and I would like to oppose a bankruptcy. What are the valid reasons to oppose a bankruptcy, or reasons that may have effect on the outcome. He works under the table, but can not prove it. Posted from: Nova Scotia

I was in a consumer proposal and a third payment bounced. Now I have a creditor calling and I hav`nt received anything from my trustee. You say in another post that I will be automatically placed into bankrupcy? How does that work because the crditor is saying I just have to pay and the value [...]

In regards to defaulted student loans that are included in a consumer proposal, is it the collection agency or the original lender that votes on whether to accept the proposal? Also, is it true that student loan lenders typically vote against a consumer proposal? This is relevant to situations where more than half of a [...]

I am in a position that will very likely mean I need to do a consumer proposal in the next couple of months. My income is now a quarter of what it was so my 2 cars are far too expensive to keep but we do very much need two vehicles. My parents will give [...]

When calculating equity regarding a consumer proposal (ie. how much one would have to pay into the proposal so that if offers the creditors more than bankruptcy). How does joint equity work when only one is entering the proposal. Is the equity amount divided by 50%. (if so does this apply to to other assets [...]

If i have some equity ($40,000) in my house can i still submit a consumer proposal to my creditors & keep the equity in or out of the house. i.e. keep my house or sell it and in both scenarios keep the equity. (P.S. my & daughter have been heavily helping me financially over the [...]

My grandmother died in May and I don`t think I would get an inheritance but if I did what would happen, I plan to file tomorrow. Posted from: Ontario

I have unsecured debts at my primary bank where my mortgage (always paid on time) and my RRSPs and savings, chequeing accounts are. If I enter a CP I have to include all unsecured debts so those unsecured debts from this bank will have to be included. How would this effect my other products with [...]