Do Laws Make Student Loans Difficult to Deal with in a Consumer Proposal?
Student loans are similar to all unsecured debts: they can be eliminated in a consumer proposal. However, there are special rules that apply to government guaranteed student loans. Specifically,...
View ArticleWhat Does A Consumer Proposal Cost: FAQ Video
This video explains how the cost of your consumer proposal is included as part of your monthly payment. No hidden fees. No up-front fees. Determining your monthly payments is based on several factors,...
View ArticleHow To Interview Your Consumer Proposal Administrator (or any debt advisor)
I'd like to tell you about someone who came to talk to me about filing a consumer proposal. I'll call him Paul (not his real name). What makes this an interesting story is that at his initial...
View Article4 Stages of A Consumer Proposal
If you are wondering how a consumer proposal works, our infographic makes the process easy to understand by looking at the 4 stages of a proposal: Stage 1: Assessment & Payment Plan Stage 2: Filing...
View ArticleJoint Consumer Proposal: Dealing With Joint Debt
A consumer proposal in Canada as a negotiated debt settlement arrangement made between a debtor and his creditors through a licensed Consumer Proposal Administrator under the Bankruptcy and Insolvency...
View ArticleConsumer Proposal Story: Two Sisters, Similar Debt
Five years ago I met with two sisters. I will call them Betty and Jane, although those are not their real names. What is interesting about this case study is the fact that both sisters experienced a...
View ArticleEmployment Concerns: A Toronto Case Study
Whether it's because you work under contract or your business has announced some closures, being concerned about the security of your job is stressful. Combine that with extra credit card debts and you...
View ArticleWhy Is Everyone Advertising Consumer Proposals?
Stand back – it may be time for a rant. Really. This topic tends to set me off and I will tell you why… A consumer proposal is a legal procedure that allows Canadians to repay a portion of their...
View ArticleShould I Borrow To Pay Off My Consumer Proposal Early?
I heard an ad on the radio today for a finance company offering loans to people who are in a consumer proposal. The pitch was, “use your car or house as security for a loan to pay off your consumer...
View ArticleA Consumer Proposal Is Only As Successful As Your Budget
We receive calls every day from people asking whether they qualify for a consumer proposal and how the proposal process works. There are many factors that are taken into account when filing a consumer...
View ArticleIs There Such Thing As A Typical Consumer Proposal?
Just like no two individuals' debt problems are the same, no two consumer proposals will ever be exactly the same either. However the driving forces behind how a consumer proposal is negotiated do...
View ArticleWhere To Get A Consumer Proposal Filed
When you need to file a consumer proposal, where to file depends on two factors: Who is legally able to file a consumer proposal for you; and How the Bankruptcy & Insolvency Act defines your...
View ArticleConsumer Proposals: The ONLY Canada Government Debt Relief Program
I am about to climb back on my soapbox. This spring I talked about why everyone seems to be advertising consumer proposals. Some of these companies are very subtle in their approach. They may not...
View ArticleConsumer Proposal or Bankruptcy: Decision Factors
Both bankruptcy and a consumer proposal will eliminate debt, both provide protection from creditors and stop collection calls. However not everyone should file bankruptcy and a consumer proposal won't...
View ArticleWill Consumer Debtor Protection Services or Debt Assistance get you a Better...
Now that the Ontario government has restricted debt advisors from charging up-front fees before completing a settlement with creditors, many debt relief companies are switching their business tactics....
View ArticleInsolvency Basics: How and When to File Bankruptcy or a Consumer Proposal in...
Choosing to file bankruptcy or make a proposal to your creditors is not an easy decision. Complicating matters are the many myths and misconceptions surrounding the process, the cost and the impact of...
View ArticleIs a Consumer Proposal a Good Idea?
A consumer proposal is just one option for dealing with debt. As a debt relief approach it has it's own advantages and disadvantages over other programs that help you get out of debt. For example: it...
View ArticleHow A Consumer Proposal can Improve Your Cashflow
A consumer proposal is a safe and reliable way to get out of debt but it can also be the cheapest in terms of monthly payments. This is because it combines two substantial benefits over other debt...
View ArticleConsumer Proposal Can Break the Debt Cycle
Debts don’t just appear overnight and neither does a personal debt crisis. Your debt probably started out fairly manageable. After all, most people borrow money with the full intention of repaying...
View ArticleMust A Consumer Proposal Include All My Creditors?
A consumer proposal has a lot of advantages. It offers legal protection while you make a settlement offer to your creditors. It also allows you to negotiate payments you can afford while keeping assets...
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