Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

adding to a consumer proposal

Since starting my consumer proposal a year ago, I needed cash for an emergency so used a high interest payday loan which now has become out of hand. The interest is so high that I need to keep reborrowing. Can my trustee add this to my proposal? Posted from: Nova Scotia

Reduction in credit card balance

Where do you get the best reduction of your credit cards with a trustee or a credit counselling business? What can you expect your credit cards be reduced to in a consumer proposal? Is there a certain percentage or what does it depend on? Posted from: Ontario

Wondering about Minumum payments leading up to Proposal?

My husband and I have finally made the definite decision to file for a consumer proposal. We have about 80,000 in consumer debt mostly due to financial mis-management. We do not qualify for a consolidation loan but do have the income to pay 50%-75% or possibly more of our debt through proposal. We are planning […]

Filing Soon

Hi guys , we love your site and becaue of you we learned a lot and now we are going ahead and dealing with our debt. Because of asset we will offer around 80% of our debt in proposal. But it is only a little over 1% of what they will take if we decide […]

stop making payments

we are going ahead and filing in the next 30 to 40 days for CP. can we just stop paying creditors now? Thanks Posted from: Ontario

credit agency

some credit agencies says that they work for us debtors and trustees work for the benifits of creditors first. What are your thoughts? Posted from: Ontario

if CP is refused

Hi there, if proposal is refused (we are offering more than 75% of what owing), can we counter offer or just file for bankruptcy? Thank you Posted from: Ontario

proposal

Once proposal is accepted and lost job, can you cash out from assets to pay CP until finding work so you don’t miss the 3 payments and get in annuled? Assets were included in CP Posted from: Ontario

What if a trustee company is not recognized by BBB?

I want to go to a trustee but am now concerned that when I looked up the company on the Better business bureau they are not accredited by the BBB. How do I know that if I file a consumer proposal it will be legal and done properly if the trustee isn’t on the BBB? […]

Is a car considered surplus income?

I’m considering filling for consumer proposal. I have a car (2009) Does that count as surplus? if so, how does it work?

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