From the category archives:

consumer proposal

Do Consumer Proposals Make You Feel Better?

by Moneyproblems TipsWed Oct 12, 2011 consumer proposal

Guest Commentary by Susan Jung, MBA
When people arrive at my St. Catharines, Ontario, bankruptcy and consumer proposal office, they are feeling low.  They are getting collection calls, and they are worried.  When I explain how a consumer proposal can help, they instantly feel better.  Here are the top three reasons why a consumer proposal makes [...]

Tagged as: consumer proposal St. Catharines

Read the full article →

I Don’t Want to Go Bankrupt

by Moneyproblems TipsTue Oct 11, 2011 consumer proposal

Guest Commentary by Brian McIlmoyle B.Sc., Client Service Specialist, Mississauga, Ontario
In my experience, many people choose the consumer proposal option to deal with their debts because they don’t want to go bankrupt.  Here are other top consumer proposal advantages, based on my experience in Mississauga, Ontario:

You pay back your debts, as much as you can [...]

Tagged as: consumer proposal Mississauga

Read the full article →

Four Advantages of a Consumer Proposal

by Douglas HoyesMon Oct 10, 2011 consumer proposal

Guest Commentary by Ian Martin, CA, Consumer Proposal Administrator, Kitchener, Ontario.
I recently met with a couple who wanted to know why a consumer proposal was a good option for them to deal with their debts.  You can read more about them in my article on what is a consumer proposal, but here were the top [...]

Tagged as: consumer proposal Kitchener

Read the full article →

Consumer Proposal: A Real Life Example

by Moneyproblems TipsFri Oct 07, 2011 consumer proposal

This week we have discussed the advantages of a consumer proposal.  Today we present a real life example, courtesy of Scott Schaefer, CA, Bankruptcy Trustee and Consumer Proposal Administrator in Kitchener, Ontario.  You can read the full story in his article on What is a Consumer Proposal? for more information.  Here’s the example:

Joe and Jane [...]

Tagged as: consumer propsoal

Read the full article →

So What’s so great about a Consumer Proposal?

by Moneyproblems TipsThu Oct 06, 2011 consumer proposal

Guest Commentary by Wendy Young, Consumer Proposal Administrator, Hamilton, Ontario.
I meet with many people each day in m y Hamilton consumer proposal and bankruptcy office, and they want to avoid bankruptcy, but they aren’t sure why a consumer proposal is often a better alternative.  Here are some of the advantages I list for them:

You’ve done [...]

Tagged as: consumer proposal

Read the full article →

How to decide between a bankruptcy or consumer proposal?

by Moneyproblems TipsWed Oct 05, 2011 consumer proposal

Guest commentary by Rebecca Martyn, bankruptcy trustee, consumer proposal administrator, and Angela Marquis, Chatham, Ontario.
If your debts are overwhelming, how can you decide between filing a bankruptcy or a consumer proposal? Here are some factors to consider:
You might choose to file personal bankruptcy in Canada if:

You have low income
You have no assets to lose
You have [...]

Tagged as: consumer proposal vs. bankruptcy

Read the full article →

Consumer Proposal - Pay a Portion of your Debts

by Moneyproblems TipsTue Oct 04, 2011 consumer proposal

A consumer proposal is a deal you make with your creditors to pay a portion of your debts.  The payment terms can last for up to a period of 5 years at a monthly payment that you can afford.  The proposal must be fair and reasonable to both you, and to the people you owe [...]

Tagged as: avoid bankruptcy, consumer proposal

Read the full article →

Advantages of Filing a Consumer Proposal - A Month Long Series

by Moneyproblems TipsMon Oct 03, 2011 consumer proposal

When you have debts, a consumer proposal is often a viable solution.  This month we will explore consumer proposals, and their advantages an disadvantages.
A consumer proposal is a negotiated settlement that becomes legally binding on your creditors.  You can use our debt options calculator to evaluate your different debt management options.
You start by contacting a [...]

Tagged as: consumer proposal, consumer proposal administrator

Read the full article →

The Disadvantages of Filing Bankruptcy

by Moneyproblems TipsWed Oct 06, 2010 bankruptcy Canada

Some of the disadvantages of filing bankruptcy are:

It has a negative impact on your credit rating (You will have to work hard to rebuild your credit after being discharged from bankruptcy; it is like starting all over again)
You may be required to surrender some of your assets to the trustee (see our article [...]

Tagged as: bankruptcy, bankruptcy trustee, consumer proposal

Read the full article →

When it hits the wall who gets splattered?

by Moneyproblems TipsFri Oct 01, 2010 bankruptcy Canada

A lot of people are afraid to take action to resolve their debt because they are worried about who will be affected. It’s important to understand that only the debt that you  sign for can directly affect you.
Even if you are married your spouse can not be made responsible for your debt unless they agreed [...]

Tagged as: bankruptcy, consumer proposal, spouse

Read the full article →

← Previous Entries

Next Entries →

© 2012 Moneyproblems.ca Inc. All Rights Reserved.  Terms of use