Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

dischagre

I am hearing from this website that some having problems with being discharged, or with trustee- How often this happen? and how to deal with it? Posted from: Ontario

Just wondering with a consumer proposal say if out of 29,000 worth of debt you pay 24,400 back with monthly payments of 300.00 and estimated 2000.00 in expected income tax for a lump some of 10,000 over the 4 year period. Lets say the person’s income tax was more the the 2000.00 and the lump […]

Voluntary repossession vs involuntary repossession

I have a car loan, and it is going to be repossessed. However the finance company wants me to drop off the vehicle instead of having someone come and pick it up. Is dropping it off, even if I don’t sign anything considered a voluntary repossession, and can the finance company still come after me […]

Can we still be accepted even though we are not behind on any debt bills?

we are looking into a consumer proposal we are not behind on any bills yet just have a lot of debt that we can not longer afford due to my husbands job cutbacks. Can we still be accepted even though we are not behind on any debt bills?? Posted from: Ontario

Trustee Fees in consumer proposal

Consumer proposal made to hold paying total of $20,000 to creditors for about six months until home sold — then I would pay creditors back in full. Was paying $250 a month to Trustee for this period of six months. House now sold — I want to give the Trustee the $20,000 I owe but […]

Mortgage renewal.

i’m considering a consumer proposal for all my unsecured debts (credit cards) since interest and minimum payments are so high. My question is, If a proposal is accepted, when It comes time to renew my home mortgage and bank notices that I’m making payments under a proposal with all my unsecured debts, will that affect […]

Addition of children and CP

While in a consumer proposal and a child/children are born does the trustee need to be notified of change in # of family members? Posted from: Ontario

More than 50% with one creditor

We have more than 50% of our debts with one bank- What are the chances that they will not reject the proposal as we cashed out our RESP and now we deposit all our money in another bank. Please advise Posted from: Ontario

Lost my Job

I have lost my Job- we are considering proposal me and my husband who still works. My question re the amount we propose to creditors: will it depend on our situation now as we can not offer as much as if I was still working- or creditors will ask for more as there will be […]

Do I have to disclose living with someone?

If I decide to file a consumer proposal, do I have to disclose that I live with someone even though I am not legally married? Posted from: Ontario

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