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I am thinking about filing a consumer proposal to my creditors when doing so do I offer them all the same amount eg 30% over so many years or can I offer them different amounts. I make 1600.00 a month take home pay and I get 665.00 a month ctb and 200.00 a month for […]
I fell behind in my mortgage payments but before the mortgagee took my house under Power of Sale and before I declared bankruptcy, I sold it. The sale was approved by the mortgagee knowing that there will be a shortfall. After the sale became unconditional but before it actually closed, I met with the trustee […]
Would a seasoned trustee have a good idea, and share their wisdom of how different institutions may practice their voting during my consultation. For example how the big banks would react compared to a smaller trust company or lending institution? Of course this is business to them all, but would some take losses more harshly […]
We are considering delaring personal bankruptcy. Can trustees seize assets belonging to our children if the children are over 18?? ie – we have 2 children over the age of 18 – they each own a horse and a computer – would these items be seized?? Also We own and operate a hobby farm that […]
If one is in financial distress and has only one unsecured shared joint debt, can the co-signor pay off that balance before a bankruptcy or proposal is made by the other person to preserve the good status of their own credit rating?
About three month’s ago my husband left disappeared I have been left without a job car money unable to retain legal aid.I have talked to a company to consolidate.We own a home with both signatures so my hands are tied in regards to consolidate or sell .So I guess my guestion is what happens to […]
I see that, in a previous answer, you said one CANNOT be sued for debts settled in a consumer proposal. And in another post, I see that one CAN be sued and/or their discharge opposed in a consumer proposal. If a Division 1 proposal is rejected and you are made bankrupt automatically, a creditor is […]
Is there a set minimum percentage of the debt a division proposal must meet, and is the cause of financial difficulty a determining factor? Do creditors ever opt in favour of imposing a bankruptcy for retribution or because they would get their money faster, even if they were offered more money over 60 months in […]
Hello, Once I have completed my consumer proposal can any of the debtors listed in the proposal sue me over any outstanding balances?? I just worry that creditors can come back and try to get my more money once the proposal has been paid off and completed. What normally happens once a proposal is completed??
can someone claim a bankruptcy if they are currently not working
