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:
- What is a consumer proposal?
- How does the process work?
- How does it affect my credit rating?
- Consumer Proposal vs. Bankruptcy
- How much does it cost?
- Post your question, anonymously, to our blog and get a quick response from an expert
- Get a Free Consultation with a trustee near you
- Or, to learn more please visit www.consumerproposals.com.
For questions on consumer proposals and related topics, you can trust the experts at Bankruptcy Canada!
Most Recent ‘Consumer Proposals’ Posts
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 […]
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 […]