Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

Can I unlock my RRSP to avoid a Consumer Proposal?

I am in financial trouble and I am currently reviewing filing a consumer proposal. The issue is that I have the money to pay ALL of my debts but it’s locked into a RRSP that I received from a registered pension. I am not close to the age to unlock the funds. Is their anyway […]

Self employment and consumer proposals

I am considering filing for a consumer proposal if I can not successfully add a second mortgage to my home. If approved, do I have to disclose to my clients that I am “in a consumer proposal” similarly to a bankruptcy? Posted from: Ontario

failed consumer proposal

I did a failed consumer proposal in 2007. I am on cpp disability earn under 2000 and have a 17 yr old daughter in school. I have 75000 in cra debt would i be considered a first time bankruptcy or a second? Posted from: Ontario

credit card with a zero balance

If you have a credit card with a zero balance will you lose it in a Consumer Proposal or can you keep it. Posted from: Nova Scotia

Debt problems as a result of gambling

If I am in debt because of gambling, is a Consumer Proposal something that would be accepted? Or is Bankruptcy my only option? Posted from: New Brunswick

Paying my Consumer Proposal off sooner.

Are there any benefits to paying my perposal off sooner ? Will this shorten that time period that my credit rating is affected or will my credit rating still be affected for the full 7 years. Posted from: Ontario

Length of time

Ok from deciding on filing consumer proposal to the time from when you sign the documents at the trustee…..how long is the time frame between those. Posted from: Saskatchewan

Default on Consumer Proposal

I defaulted on my consumer proposal but have since sold my house and paid off all creditors involved. How should this show on my credit report? Posted from: British Columbia

Betty

We have just moved to a new province for my husbands work. I am not working now. I personally have 30K in debit but no means to make anymore than the minimum. Am I able to do a consumer Proposal even though I have excellent credit? Consolidation for us is not an option, we have […]

Car lien

I have a consolidation loan that a portion has a lien against my car, would they be able to seize it and would this loan be included in a consumer proposal? I have no CRA debt, if I file a consumer proposal would I still get any refunds due to me? Posted from: British Columbia

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