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I own a small business and ran into some complications a few years ago from a fire. we are holding our own in the business but the credit that we racked up is mind boggling. The interest is killing us. We have unsecured loans of about 100,000. We are capable of paying them off over […]
my wife and I jointly have about $145000 in unsecured debt, are we still eligible to apply for a CP Posted from: Ontario
Who do I send a consumer proposal to when dealing with citifinancial. I sent one to the branch but the account manager is not willing to work with me. I would like to send it to the person or office that will take the time to read it over and to work with me. I […]
I have filed a CP and upon reading up on it have found out the CIBC and RBC are not as willing to accept a proposal as Scotiabank. My large debts are with CIBC and RBC and am concerned that it may not get accepted. Can you shed some light on this based on your […]
We owe 17,000.00 in unsecured credit cards and have 50,000 equity in our home but have been declined for both reconsolidation and refinancing, can we be approved for a consumer proposal? Posted from: Ontario
I submitted a CP and had 6 credit cards which I handed over to the trustee. I was told that the creditors would vote on the CP and more than 50% have to vote yes in order for it to be approved. I was however also told that the credit cards that owe the highest […]
What happen when creditors don’t submint a claim afeter I file for CP? If Cp is pparoved docreditors who they did not submit claims come afetr me? or shall I make sure they submit or trustee will do? Posted from: Ontario
we filed for proposal and waiting for the 45 days. We want to make resevations online so we opted for a prepaid master with a bank that we never dealth with. Is there any problem doing this? Posted from: Ontario
If I do a consumer proposal, I know that I must give up all credit cards. My question is: If I have two secured credit cards with no balances on them at all and $1000 deposited at 2 differnt banks to secure them, must I give them card up? Posted from: Alberta
I have both a line of credit at 15,000 and a M/C card at 18,000 but have 15, 000 of RRSP’s backing the line of credit. So do i cash in the RRSP’s and take a tax hit to cover the Line of credit and then do a comsumer proposal towrds the M/C card or […]
