Co-signed loans
A family member has co-signed a loan for me. If I claim bankruptcy or do the Consumer Proposal program what are the ramifications for this family member? Are they stuck with the remainder of the loan? Posted from: Ontario
Consumer Proposals: Answers to Questions
Most Recent ‘Consumer Proposals’ Posts
Consumer proposal after debt arbitration
We are currently 6 months into a debt arbitration. It is costing us over half of what we would be paying in cc bills and there is no guarantee that all our creditors will approve the arbitration. We have settled one small account but have a lot left owing, 100K. My question is would a […]
BMO/CRA
2 questions. i owe 60k to BMO, do they generally accept CP’s? also, if i owe cra, i don’t recall actually seeing them on the creditors list, only as a secured creditor but there is an amount owing above and beyond the lien. should that amount not be included in the “proposed” payment plan OR […]
unsecured credit
We are now 3 months into a consumor proposal,we switched banks like our trustie told us to do,all our debt was at the bank we left,we were at this new bank 8 years ago and when we got our chequeing and savings accounts we still had an active line of credit still there after all […]
n0 job , big debit
As I have no job , no social assistance , my children sporting me but I have a big debit , can I apply for Consumer Proposal ? Posted from: Quebec
size of debt
the figure i see the most is paying 1/3 of your debt through a consumer proposal. does this 1/3 stay the same no matter the size of debt? what if its smaller like 10k in debt. would i still be paying 1/3? also, i read that the offer must be good enough for creditors to […]
On EI & insurance for loan soon to run out.thinking of consumer proposal
I lost my job in May 2012. It is now Oct 2012. I still havent found a job. I have approximately $65000 in debt. One of my debt CIBC for $40,000 had insurance for loss of work. If I dont find a job by dec the insurance will run out. Should I file for consumer […]
Will any Trustee let us file for a joint consumer proposal if we are certain we don’t owe CRA in 2011?
Will any Trustee let us file for a joint consumer proposal if we are certain we don’t owe the CRA in 2011? This is one important criterion because we will be filing our 2009/2010 tax returns soon but the 2011 will need a bit more time to work out. Thank you. Posted from: Ontario
Mortgage renewal
Does my existing mortgage company will increase my interest once i file for consumer proposal before the renewal is up? Posted from: Ontario
Shane Allard
I have a major debt with CRA, They have Garnished my wages, put a lien on my home. This has prevented me to aquiring a new mortgage, and to borrow any money. Would a consumer proposal help me ? Posted from: Ontario