Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

Renewal of Mortgage while under Consumer Proposal

My husband and I are thinking about doing a consumer proposal. If it is accepted and our current mortgage is up for renewal in 4 years, will we still be able to get a mortgage rate? Will it be higher than what we currently have? How does this affect us? Posted from: Ontario

credit cards

Two iv my credit cards are with Scotiabank. One is a LOC visa and the other is just a visa. They are a part of the total equity Step program with Scotia bank and are held with my morgage against the house. Mt understanding is they would not be included in a consumer proposal. Is […]

sounds too good

All debt calculators calculate consumer proposal at 30%. Will big banks like TD, Scotia and RBC accept only 30% Posted from: Ontario

wife income

I know in bankruptcy my wife can refuse info. does it work the same in a proposal? Posted from: Ontario

confused

I have approximately 19000 in debt to RBC and a student loan worth about 10000. If I file a proposal would RBC (who has more than 50%) be the deciding factor or is there a mechanism for the national student loan center to object? Thanks Posted from: Ontario

secured loan

If I have a Bank Loan for 30,000.00 secured by my vehicle which is only worth 8,000.00. Will any of this debt be considered in the consumer proposal Posted from: Alberta

joint account

I am joint on my moms bank account at TD. This was done so I could do her banking if she needed me to. If I go through with a consumer proposal or debt settlement and two of my debts are a TdDvisa and TD LOC. can they touch her account or try to count […]

50% with one creditor

Hi there, We have more than 50% with TD canada. We want to file for proposal but we are worried that they will force us to bankrupcy? Can trustee help us in this situation? Thank you for your help Posted from: Ontario

Mortgage

Will my mortgage bank know about CP? I have no other debts with them? Posted from: Ontario

Trustee

How do you deal with a trustee that has not fullfilled their obligations? Wage garnishments were used to pay for debts and trustee was to communicate when payments towards debts should start. NO communication was given even after phone calls were made to ask when payments should start. No debt management was given either. Actually […]

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