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Consumer Proposals: Negotiate with Your Creditors and Avoid Bankruptcy

Consumer Proposals are a way to negotiate with your creditors to pay off a portion of your debt, and an effective way to avoid bankruptcy. Here you can find answers to your specific questions about Consumer Proposals – the most often opted for bankruptcy alternative.

To learn more about this popular debt management solution, please choose one of the following:debtoptions

For questions on consumer proposals and related topics, you can trust the experts at Bankruptcy Canada!

Most Recent ‘Consumer Proposals’ Posts

If my ex. did a consumer proposal and tried to include our house what happens if I try a consumer proposal. His proposal was denied by the mortgage company

Is a home equity line of credit considered a secured creditor? If so, I am currently past due but have made arrangements to resolve the outstanding amount. Once I clear up the amount outstanding and file a consumer proposal, will the bank go ahead with a foreclosure even though I brought the account current?

I have two questions: 1] I understand that a consumer proposal is only available if the debt is $250,000 or less? What is available if debt exceeds $250,000? 2] If the majority of creditors do not accept the consumer proposal, is the debtor forced into bankruptcy or are there any other options?

Last year I wanted to negotiate the HST owed to revenue can from a failed business. A firm directed me to make a consumer proposal. I was not properly assessed. I informed them I had a line of credit of over 200k if it was going to be affected. They said no it secured line […]

I am listed on all my mother’s accounts, because my mum had dementia, and I pay her bills. This is not my money, and should I decide to make a consumer proposal; I don’t want the bank to take it. Also, I am executor should anything happen, so I need to be able to handle […]

I am about to receive EI and it will barely cover my living expenses. Would I qualify for Consumer Proposal?

The value of my home significantly exceeds my total debt. Would that be a problem if I was to file a consumer proposal? Can it result in creditors NIL my proposal?

My husband and I have a lot of joint debt (and he has some on his own). We have a Van Loan for $45,000, a line of credit for 20,000, a credit card for 19,000 (which we are behind on) and an RV loan. I have a 5000 credit card in my name. He has […]

I had contacted a company about debt problems concerning two credit cards. I did my homework, and this company had an excellent rating. We were told that we could settle this for $260.00 a month for 60 months and that our credit would be repaired in one year. I have the paperwork to prove this; […]

A few years ago, I co-signed a car loan, for a friend. The vehicle and insurance are in his name, and he pays everything, out of a joint bank account. ( which I have nothing to do with )I am about to make a Consumer Proposal and am worried about our friendship since I co-signed […]

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