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I have approx 200k in credit card dept. I also have approx 200k in equity. Can I sell my house and offer a lump sum of 100k (half of my equity). I have heard that they will increase the consumer proposal limit for a couple from 150k to 250k. Should I wait? or or can […]
I think a CP is the way to go for me but am concerned about the timing. I will be insolvent in a little over a month and am concerned that I have to renew my mortgage within the next month. Should I wait until I renew and keep my payments on my unsecured dept […]
I have a business registered under my name as a sole propreitorship and it has become necessary to file a proposal. The business still generates cash flow and has the potential to continue doing so. Currently it is my only source of income. Is it necessary to change the business name to continue operating. Is […]
My wife and I are around 70K in debt, inclucing a secured car loan for $33000. Unfortunately the vehicle is only worth around $15000. We thought about a CP, but decided… What is the usual timeline for a bank sueing, and a lien being placed? Should we file a CP before that? Posted from: British […]
i owe over 50000.00 to revenue canada from a past business can i do a consumer proposal without my husband doing it too, they have put a len on my house Posted from: Ontario
I filed a consumer proposal a month ago. Today I received a letter from my mortgage company (GMAC) stating that because I have filed a proposal, my mortgage is now `in a default condition`, and, as such, they have the right to demand payment in full immediately. They further write that they will waive this […]
Are My stocks at risk if I do a consumer Proposal? I`m sure that Stocks are considered na asset if I file for Bankruptcy. Posted from: Saskatchewan
a)Im about to go into proposal and I have a rental property. Its worth 90 000$. I have owing 80 000$ on the property. Will my creditors have access to the 10 grand of equity? b)and my main home is worth about 440 000$ I owe 520 000$ on it. So negative 80 grand equity. […]
I have $42,000 of unsecured credit card debt. In addition, I have a secured car loan of $ 35,000, a secured mortgage of $160,000 and a secured trailer loan of $42,000. I would like to make a consumer proposal, but am uncertain if the Trailer will be considered outside and secure under the terms of […]
If I transfer real estate title under compassion grounds and within a 6monts/year I file for bankruptcy or consumer proposal, what are the ramifications of this action? Posted from: Ontario
