Consumer Proposals Articles - Archive: February 2012

I have filed a CP and upon reading up on it have found out the CIBC and RBC are not as willing to accept a proposal as Scotiabank. My large debts are with CIBC and RBC and am concerned that it may not get accepted. Can you shed some light on this based on your [...]

We owe 17,000.00 in unsecured credit cards and have 50,000 equity in our home but have been declined for both reconsolidation and refinancing, can we be approved for a consumer proposal? Posted from: Ontario

I submitted a CP and had 6 credit cards which I handed over to the trustee. I was told that the creditors would vote on the CP and more than 50% have to vote yes in order for it to be approved. I was however also told that the credit cards that owe the highest [...]

What happen when creditors don’t submint a claim afeter I file for CP? If Cp is pparoved docreditors who they did not submit claims come afetr me? or shall I make sure they submit or trustee will do? Posted from: Ontario

we filed for proposal and waiting for the 45 days. We want to make resevations online so we opted for a prepaid master with a bank that we never dealth with. Is there any problem doing this? Posted from: Ontario

If I do a consumer proposal, I know that I must give up all credit cards. My question is: If I have two secured credit cards with no balances on them at all and $1000 deposited at 2 differnt banks to secure them, must I give them card up? Posted from: Alberta

I have both a line of credit at 15,000 and a M/C card at 18,000 but have 15, 000 of RRSP’s backing the line of credit. So do i cash in the RRSP’s and take a tax hit to cover the Line of credit and then do a comsumer proposal towrds the M/C card or [...]

If I file a consumer proposal, what happens when my mortgage comes up for renewal? Posted from: Alberta

If I were to seek advise for my financial hardships would my sons RESP be up for grabs? Posted from: Ontario

If we were to file a consumer proposal does it affect job prospects, husband is a ca and worries employers will view him as a loser. Your comments please. Posted from: Ontario