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Consumer Proposals: Negotiate with Your Creditors and Avoid Bankruptcy

Consumer Proposals are a way to negotiate with your creditors to pay off a portion of your debt, and an effective way to avoid bankruptcy. Here you can find answers to your specific questions about Consumer Proposals – the most often opted for bankruptcy alternative.

To learn more about this popular debt management solution, please choose one of the following:debtoptions

For questions on consumer proposals and related topics, you can trust the experts at Bankruptcy Canada!

Most Recent ‘Consumer Proposals’ Posts

I am thinking that I may need to either fiel bankruptcy or a credit proposal. My wife`s business is in big trouble from teh economic meltdown. She will likely have to go bankrupt and we have many shared debts. I owe total about $60k that includes joint with her. B/c she has lost her income […]

I`m one year into a Consumer Proposal. I have to admit I`m happier than I was a year ago. The down side is working only in cash limits my ability to make any transactions via the net or phone – all companies require a credit card. Even small purchases like books online require a credit […]

If i am thinking about bankruptcy or a consumer proposal and i continue to use my credit cards before seeing a trustee, when i do go to file a proposal or bankruptcy-how does this factor in. Are consumer proposals rejected based on using credit cards before. I m really using my cards to purchase gas, […]

I have a good income but a very high debt load which now i am onlly able to make minimum payments to my credit cards and i find myself every month using what i can and maxing them out again. I often have taken cash advances such as 100 to 300 dollars. i have heard […]

I just want to clarify something… One of my debts was co-signed by my father. Is there any hope of getting this in a consumer proposal or is the bank able to get out of this and collect from my father (even if over 75% of creditors agree with the proposal)? Thanks Posted from: British […]

I have a Consumer Proposal and have been paying it for 33/36 finishes in 3 months $425.00 When filing it was for 335 for 36 months payable for 12,060. I call my trustee to confirm that my file will be finished in 3 months (File was sold to another trustee) I found out the the […]

I owe $22,000 and have no assets that I can offer to pay back my debts. I quit my job. One of my freinds recomended a proposal or a bankruptcy when I asked him for a loan. Can I offer to pay $500/month for one year only (it will amount to 27% of total debt) […]

Can I opt out of a consumer proposal & change to banruptcy after the proposal has been accapted Posted from: Ontario

Is there any idea of when the $250 000 debt limit for consumer proposals will come into effect. Will the problems with parliament happening right now postpone the date even further into the future? My husband and i currently owe about $160 000 in unsecured debt and I am also wonderering how often is division […]

My ex-wife did a consumer proposal on our joint credit card debt, totallying $8000, together with her personal debt. The total consumer proposal that she did is 17500, paying 350 per month over the period of 5 years. However, because the 2 credit card debt`s were joint, the creditors are asking for me to pay […]

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