Archive for the 'Consumer Proposals' Category

Unfortunately I had to file for bankruptcy in 1997. While things were good for a while, conditions have arose and I am now in a bad financial position once again. In total I owe around around 115k.
The problem is that I want to do a Consumer Proposal, although I realize I am currently over […]

Hello, I want to file a proposal but I am over limit. I was going to try to refinance my home, but I simply can`t get enough out of it to pay my debt, but was thinking if I took out a second mortgage I could pay off one of my credit cards, then […]

Hello, I first want to thank you for all the information you provide on this site. I have just finished filing a consumer proposal largely based on your advice and last week our proposal was accepted by our creditors. My proposal covered about $49k of debt, but I just realized I forgot to […]

I part way through paying off my consumer proposal and have just found out that I have a fairly significant inheritance that will be coming due shortly. Am i required to inform my trustee? Will I be able to use this money to pay off my proposal?

If I have a consultation with a Trustee does it affect my credit?
I have been reading a lot about a consumer proposal and was wondering if it would cover all or part of my debts? The reason I ask this is that I need to keep my car so I can get to work […]

Right now I lease a car and am planning on filing a proposal within the next month. The car I lease is far to expensive, guzzles way to much gas and I simply cannot afford to keep the vehicle. Can I return the car? If I return the car what will happen and if I […]

Hello,
I owe $65,000 in credit card debt, $15,000 in student loan debt. I have very few assets, I make $2424 net per month and my living expenses come to approximately $1,700 per month, not including my debt servicing costs. Since I have $a decent amount of surplus, would a trustee prefer I do a proposal? […]

I think I read somewhere that if you are going to file a consumer proposal you can`t have more thank $75K in debt. Is this right?
If so, is there a possibility that the limit be raised soon and if it is going to be changed do you have any idea when that may happen?

My wife and I are having difficulties. Between us we make $120,000 per year but our debt simply is not maneagable and we don`t know what to do. Right now we have approximately $45,000 in lines of credit which have been fully drawn on. We have mountains of credit card debt (a total of roughly […]

Both my wife and I have debts. I have cosigned on some of hers and she has cosigned on some of mine. We live together, have been married for 10 years, and have 2 children. We both work. My question is can the both of us file a consumer proposal togher. I have read your […]