Consumer Proposals Articles - Archive: 2009 Page 2

We are about $90,000 in debts. Three year ago I transferred our property to my daughter as she paid all our debts at the time (over 80,000) and also paid the remaing mortgage aprox 26,000, the market value of the house at that time being $129,000. My husbund being retired and disable, and me loosing [...]

I want to file a consumer proposal for unsecured credit card debts and foreclosure deficit. Everything is only in my name, and i have a good job to afford monthly payments so whose income would be considered to determine monthly payments. My spouse does not want to get involved in any of this. Can my [...]

MY TRUSTEE IS MAKING A CONSUMER PROPOSAL TO MY 5 CREDITORS. THE OFFER IS 60 CENTS ON THE DOLLAR WHICH WILL BE AROUND $21,000 IF EXCEPTED. THE TRUSTEE HAS ASK ME FOR $2,500 TO WRITE UP THE PROPOSAL. IS $2,500 A FARE PRICE TO PAY FOR A PROPOSAL. Posted from: Ontario

What does the trustee need to have when you go for your first meeting? and why? Posted from: Ontario

if i recieve an inheritance during a consumer perposal do keep the money or tell my trustee about it Posted from: Ontario

If a CP is finally rejected, and one doesn`t wish to go bankrupt, what options are there? I keep hearing `the creditors will come after you`. Have you heard of debtors pay their arrears so their accounts are up to date and then continuing to pay them as previously? Can you sign up for a [...]

After the 45-day passage, and prior to the creditors meeting (which is being held due to the CP not passing), what goes on behind the scenes with the trustee and creditor. 1.Do they negotiate a new deal back and forth and then present it to the debtor at the meeting? 2. Does the creditor simply [...]

If I have 6,500 in a mutual fund type of RRSP personally and as a government employee, we are automatically enrolled in government pension and deferred savings plan, how are these accounts handled when we file for bankruptcy or make a consumer proposal? Posted from: British Columbia

My family and I have about $90 K in unsecured debt. We rent and have one vehicle secured against Nissan Canada. We have about $13 K in RESP for children. We are in a jam cause of loss of job and spouse`s income not enough to survive. If we file bankruptcy, the only amount the [...]

I owe a significant amount to CRA. The money owed is payroll withholding taxes. I am considering winding down the business, assuming personal responsibility for the CRA debt and then making a personal proposal. I transferred full ownership of our house to my spouse after most of the CRA debt was incurred. Is there a [...]