Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

Consumer Proposal – Payment Change

Dear Sir/Madam: I am currently on Consumer Proposal. I have been paying $425 per month for 8 months and will pay off in 5 years. Yesterday, I went my Trustee Office for my 2nd Mandatory Counseling Session. There, I was told by the counselor that I will have to pay more than what I regularly […]

proposal refused

consumer proposal was refused – what fee do i have to pay the trustee? Posted from: Ontario

Consumer proposal cost

What is the average charge for a consumer proposal, I just went through the pre work and a charge of $1500.00 would need to be paid ahead of time before the trustee is contacted……is this an average fee for my area! Posted from: Ontario

Line of credit

If you file a consumer proposal I understand your credit cards have to turned in or canceled. What happens with line of credits? I am really worried about those unforeseen expenses/emergencies where you may need something. Posted from: Ontario

refusing CP

What if proposal is refused? can we declare bankrupcy right away to stop collections? Posted from: Ontario

would I qualify?

I’m on title on my moms house and my share is only 11%. My siblings and I helped her get a loan to do renovations and to pay off some personal bills. We pay some money on a monthly basis. There is equity in the house. I don’t live in the house. Would I qualify […]

Consumer Proposal purged from credit file

Can you please clarify when a fully completed consumer proposal is cleared off a credit file at Equifax and TransUnion ? I’ve done my own research because I want to apply for credit soon and have found conflicting information. Some websites report that a consumer proposal is cleared off 3 years from the date of […]

Consumer Proposal – Keeping my car and boat?

If i go forward with a consumer proposal, will this affect me keeping my house or renewing it next year. I have 15K in equity in it. do they negotiate for me in keeping my car and boat? what are the odds that i would keep them. do you lose the credit cards? Posted from: […]

mortgage free house but money running out

Can a consumer proposal help my wife and I keep our house not knowing when I will be able to find a job. We have no mortgage as the house is paid off but other debts such as credit card balances would be left outstanding. My wife has a job but does not earn enough […]

Consumer proposal

Is it possible to keep your home with a consumer proposal? For example I owe $50,000 unsecured debt & my portion of the equity in my home may be as much as $30,000. Posted from: Ontario

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