Consumer Proposals Articles - Archive: 2010

If I go for consumer proposal and in 2 years time I will have to renew the mortgage, what is my chance being on R7 to have my house remortgage at a higher amount? Or it is not possible because of my credit score? Posted from: Manitoba

I was wondering after the Consumer proposal is finished and during that time had a mortgage and or car payment and kept all this upto date, does this help with your credit rating after the proposal term? Posted from: Ontario

For the consumer proposal my trustee will pay my creditors every 6 months. So what happens with this money that I am paying in during that time. Is it sitting in some account? Is it invested? Do the lower amount creditors get paid off sooner than the others or are the payments divided and everyone [...]

How long will a consumer proposal be retained in the publicly accessible Bankruptcy and Insolvency Records of the Office of the Superintendent of Bankruptcy Canada. If the answer is indefinitely, is there a mechanism to have the record expunged after a certain period of time? Posted from: Ontario

Is a Consumer Proposal considered the SAME AS BANKRUPTCY when trying to re-establish credit, ie when applying one of the conditions states \”Have not filed for Bankruptcy in the past 7 years.\” Our proposal was for 3 years, was completed and discharghed in early 2009 Posted from: Ontario

I was thinking about doing a consumer proposal (I owe 26000 not including income tax) and I owe 2600 in income tax. Apparently my second careers counted as income and put me in the higher tax bracket when I was in school for two years. Would I be able to include the full 2600 in [...]

In BC can an employer fire you after you file a consumer proposal? Employee at a bank was fired after she did a proposal instead of filing for bankruptcy because her employer told her she would lose her job if she filed for bankruptcy. Posted from: British Columbia

Hi my husband went through a consumer proposal a couple months ago -I thought we both should have filed since my name is on most loans as well as his(my trustee said i have no income so no point) now the problem is that the Creditors are calling everyday demanding that I make payments that [...]

Hi, approx. 3 weeks ago I entered a credit councelling program with Shield Credit. Not all of the creditors have signed on and since I\’ve seen my payments go up 200.00 dollars per month. I cannot afford the payments. If I was to cancel out would my creditors still accept a consumer proposal? Or should [...]

I have had extra hours for the past 5 years which is more than double my income to aprox 150,ooo. But with the extra income came extra dept not thinking that the extara hours would just stop.Now I am back to my normal wage.And my wife lost her job to boot and my kids are [...]