Hello, We are in a bind. We have recently reviewed our financial situation and had no idea how out of control our credit cards have gotten. We have about $75,000 in credit card debt. We had been planning on paying these one-by-one on our own but it is too overwhelming! We each making about $100,000/year […]
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
Can I do my 2 counselling appointments over the phone or Skype ?
I spoke with a debt relief specialist. She works for a fee but says she can negotiate better arrangements than if going to a Licensed Insolvency Trustee alone. Will the Licensed Insolvency Trustee have my best interest at heart? How does one ensure they have negotiated the fairest consumer proposal available?
I have about 75,000 in debt, filing for a consumer proposal. I will continue to pay for my vehicle which is book valued 5000, and last payment is September 2015, my question is, I am living with my son and pay only 500, but my son and his wife will be moving out in October […]
I am currently using my investment savings to pay all our monthly expenses. I am looking for a job, my husband is self-employed and has not earned income for several months however this money is dwindling and I am looking to the possibility of filing a consumer proposal. What will be the requirement be with […]
Will interest on a secured line of credit increase after CP? I am considering a consumer proposal because I cannot afford more than the interest payments on my unsecured debt. I also have a secured line of credit but was told that the bank may increase my interest rates or my minimum monthly payments on […]
I am currently on EI, laid off because of low oil prices, but will be called back to work eventually (not permanent). Even when working full time, I found it difficult to keep up with payments. I have used up almost all my savings in just keeping up with the payments along with the EI […]
I am planning to file a consumer proposal next week for five years. Once I’ve completed it, how long will it take to rebuild my credit after the consumer proposal? />Posted from: Ontario
Hello, I was told to see if a judgement was filed and if so, then go ahead and file a consumer proposal, or wait for the SOL to run out. Just wondering how to know if a judgement is filed against you? I haven’t gotten and communication to date in the 18 months since my […]
Hi there, if I am interested in a consumer proposal can my boyfriend and I do a joint application? Combined we have about 23000 in debt, we both have vehicles and are just overwhelmed. Combined we make $80,000 and do not have a problem with pay our creditors but the interest is killing us with […]