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I have a couple of credit cards and a line of credit that currently have favorable interest rates. I only have one that is at 22% and the rest are 1.99%, 4%, 10-12%. If my consumer proposal were to get rejected by my creditors, what happens to these interest rates? Will the creditors consider me […]
I have done a consumer proposal and own a house with my husband. We are separating and selling the house. We have only been in the house 3 years so there isn’t that much equity. Was the equity already included in our proposals? And if any extra money we make from the sale would it […]
I am considering a consumer proposal for my $23000 of debt (more than half is a credit card debt). I have virtually no assets (no car, house or anything ”sellable”) and I am single. My parents pay an insurance policy on me that has a cash surrender value. Can the creditors take that money even […]
so i filed a Consumer proposal in may 2010 and its in good standing..Im trying to re finance my mortage and the lawyer has advised theres a judgement against me filed on the 9dec2009 and its active and unless i pay it off he cant continue with the refinancing. This is with RBC and if […]
I began making monthly payments for a consumer proposal in January 2013.Now it is only April and my circumstances have changed in a big way.I am no longer able to work as I planned on doing for a long while.Now I am only going to be living on OAS ans CPP–will I be able to […]
Hello, My home was foreclosed on in Oct. 2012 as a result of a marital separation and the mortgage insurance company is now taking steps to collect the $40K deficiency. I also have additional unsecured debt totaling $40K. Throughout the separation and prior to the foreclosure (4yrs) I have continued to make the minimum payments […]
Can a consumer proposal be amended to include a new debt after it has been filed ? Posted from: Ontario
I am in a Proposal right now, my question is can I cash in an RRSP to buy a car? Thanks Posted from: Ontario
It is my understanding that the fees a trustee will earn from administering a CP is based (as a percentage) on the total amount of settlement paid out to creditors in the proposal. It seems to me this would encourage the trustee to push for a larger settlement amount, so in essence they would be […]
I’m wondering if there would be extra adminstrative costs if I annuled a Bankruptcy to a Consumer Proposal. Also, if I annul a bankruptcy do I still have answer yes to the, “have you ever been bankrupt question?” Thank you! Posted from: British Columbia
