Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

amending a proposal for payout

I entered into a 5-year proposal in Sept/11 and have been paying $750 p/mo on $45,000, so am down to under $40,000 now. Unexpectedly I’ve come into some money ($50,000) and am wondering if I can now offer my creditors a lump-sum payout?? If so, would it have to be for the whole balance remaining […]

Repayment

The Trustee I spoke with said the Consumer proposal would be 80% of my cash assets however I see many instances of around 30%. What is the average cash settlement for proposals to creditors that is accepted. Posted from: Prince Edward Island

Settlement agreement

I have a settlement agreement with a company that I did business with and have now filed a consumer proposal. they are telling me that I still have to pay the settlement agreement as it was done so they would stop suing me. Is this true? Posted from: British Columbia

Can you file a Consumer Proposal if your debt is in Collections?

Hello if you owe for a credit card and they have out you into collections with a lawyer can you still file a consumer proposal? Posted from: Ontario

Response to calls or letters

I am filing my consumer proposal in a few weeks. I have missed credit card payments for the past month. If I receive calls from the creditors during this time, “Is it best to respond and should I tell them about filing. Posted from: Ontario

More month at the end of my money

My ex wife and I made a CP and I have been paying on it for just over a year. I am finding with all my other bills and support, etc. I have a lot of month left at the end of my money! Is there a way to change the monthly amount I pay […]

switching

Once a consumer proposal has been accepted can a debtor switche trustee companies? Posted from: Ontario

Credit Card

I filed a consumer proposal in February and was wondering if after filing I received a credit card from another bank that I deal with. Does this need to be turned over to the trustee as it was obtained after the proposal was filed? Posted from: Ontario

Mortgage

If I undertook a consumer proposal I understand my credit rating would be affected Would it hurt or make me in eligible at mortgage renewal time? Because of the change in rating Posted from: Ontario

Mr. James Thomson

I owe the government approximately $48,000. I am doing a proposal at this time but I cannot keep up with the payments. I would like to go bankrupt if it is possible. I am retired at this time. This is deeply depressing me please help. Thankyou Posted from: Ontario

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