Posts tagged as:

consumer proposal

How to Deal With Overwhelming Credit Card Debts

by Moneyproblems TipsFri Feb 19, 2010 Debt Consolidation Loan

This week we have discussed the truth about credit card costs, and how to pay off your credit cards.  But what can you do if you are carrying an overwhelming amount of credit card debt?
You probably didn’t expect to have this much debt, but perhaps you got sick, or lost your job and had to [...]

Tagged as: bankruptcy, consumer proposal, credit card

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Why a Creditor Would Reject a Consumer Proposal, and What You Can Do About It

by Moneyproblems TipsThu Feb 11, 2010 consumer proposal

A consumer proposal is a great way for some people to deal with their debts.  The concept is simple: your consumer proposal administrator calculates what the creditors would receive if they were to reject your proposal and you were to go bankrupt, and you offer the creditors more.  For example, if the cost of bankruptcy [...]

Tagged as: consumer proposal

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Credit Card Companies May Not Be Evil, But Be Careful

by Douglas HoyesWed Feb 10, 2010 Money Saving Tips

It is now common practice for credit card companies to raise interest rates at the first sign of trouble.  They were eager to increase your limit when times were good, but during a recession, even with low market interest rates, they do not hesitate to raise your interest rate if they sense that you may [...]

Tagged as: consumer proposal, credit card

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Save Your House and Your Marriage

by Moneyproblems TipsTue Feb 09, 2010 Money Saving Tips

The largest expense most of us pay each month is our mortgage payment.  We don’t mind making this payment when real estate values are increasing, but during times of recession as house prices are falling, it’s hard to justify making a huge mortgage payment.  The stress can become unbearable when you fall behind on your [...]

Tagged as: consumer proposal, house, marriage

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Make a Plan to Deal With Your Debts

by Moneyproblems TipsFri Jan 22, 2010 Budgeting

Today’s Tip: Make a plan to deal with your debts.
If you have more debt than you can handle, you need a plan. That plan will start with a household budget, so you know what you have to spend each month. You should then explore your other debt management options, including getting a debt consolidation [...]

Tagged as: bankruptcy, budget, consumer proposal

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The final bankruptcy alternative: a consumer proposal

by Moneyproblems TipsFri Nov 13, 2009 bankruptcy Canada

All week we have discussed ways to avoid bankruptcy.  We have discussed working through your problems on your own, getting a debt consolidation loan, doing a debt management plan, and doing a debt settlement.  If you can afford these options, stop reading.  If not, the final bankruptcy alternative is a consumer proposal.
(NOTE: Consumer proposals are [...]

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Debt Consolidation Loans: What to Do When The Bank Says “No”

by Moneyproblems TipsFri Nov 06, 2009 Debt Consolidation Loan

All of our tips this week have discussed debt consolidation loans.  They are a great option for many people with money problems, but what can you do when the bank says no?  If you have bad credit, or too much debt, it is likely that the bank will reject your application for a debt consolidation [...]

Tagged as: consumer proposal, Debt Consolidation Loan, debt consolidation loan calculator

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Keep your car if you go bankrupt

by Douglas HoyesWed Sep 23, 2009 bankruptcy Canada

This week we are reviewing the new bankruptcy rules in Canada. Yesterday I gave a detailed overview of the new rule allowing for greater debts to be included in consumer proposals, and as a result a consumer proposal may be a good solution to debt problems.
Today’s tip is more good news from the new rules: [...]

Tagged as: car, consumer proposal

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A consumer proposal may be the solution to your debt problems

by Douglas HoyesTue Sep 22, 2009 bankruptcy Canada

All week I’ll be highlighting some of the new bankruptcy rules that came into force on September 18, 2009.
Today’s Tip: Understand how the new consumer proposal rules can help you deal with your debts.
A consumer proposal is a negotiated settlement with your creditors, and is a great alternative to bankruptcy.  Here’s a simple example:
You owe [...]

Tagged as: consumer proposal, new bankruptcy rules

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