Sentences with phrase «in a consumer proposal no»

Payments in a consumer proposal are negotiated up front.

In a consumer proposal, you may make payments for up to 5 years or 60 months.

The duties required in a consumer proposal are much less than those in a bankruptcy.

You can not modify the terms of secured debt in a consumer proposal.

You're still paying that whether you're bankrupt or not, whether you're in a consumer proposal or not, it's not going to affect it.

For example there is no requirement to report your income and expenses monthly in a consumer proposal.

In a consumer proposal, that means your student loan lender can receive a share of the proceeds, and your student loans will be eliminated when you are done.

Even in your student loans do not meet the 7 year rule for forgiveness, the student loan lender can not force collections while someone is in a consumer proposal or bankruptcy.

Obviously, an R7 rating in a consumer proposal is much worse than a perfect R1 credit rating, so that is an obvious disadvantage of a consumer proposal.

While in a consumer proposal you can still get a secured credit card through select financial institutions.

Jason Quinney: Well, if you fall three months in arrears, so if you fall three months behind in payments in a consumer proposal, then the proposal's automatically annulled.

In your consumer proposal, you may be making payments to the administrator of $ 400 per month for 50 months, for a total of $ 20,000.

In a consumer proposal you repay a portion of your debts.

The Bankruptcy & Insolvency Act sets the debt limit in a consumer proposal to $ 250,000 in debt, excluding the mortgage on your principal residence.

This is a more onerous requirement than the simple majority of creditors required in a consumer proposal.

→ In your consumer proposal, you agree to pay $ 1 for every $ 10 owed, so your mortgage lender ends up getting approximately $ 25,000 from you, meaning the lender now has a loss of $ 225,000.

In a consumer proposal you offer a payment plan to your creditors to repay a portion of the debts.

During your bankruptcy, it is an offence under the Bankruptcy and Insolvency Act to obtain credit without disclosing the fact that you are an undischarged bankrupt or in a consumer proposal.

Ross Taylor: Yeah this time last year he came to me and he was in a consumer proposal.

In a Consumer Proposal, most unsecured debts can be included.

In a Consumer Proposal, you will make one reasonable monthly payment and will pay only a portion of your overall debt.

And I guess the upside in a consumer proposal is the payday loan person isn't the one who's going to decide it.

If your mortgage payments are current and on - time, you should be able to renew your mortgage with your existing lender while you are in a consumer proposal filing.

However in a proposal creditors have a say up front, so the need to go to court doesn't usually happen in a consumer proposal.

In a consumer proposal, you work with your Hoyes Michalos consumer proposal administrator to propose a fair settlement to your creditors.

If they expect to get 10 cents on the dollar in a bankruptcy but you only offer them five cents on the dollar in a consumer proposal, there's not much chance that they'd go for that deal.

In a consumer proposal you make an offer to pay your creditors a portion of your debts.

Ted Michalos: That's right and in a consumer proposal you have the ability to repay part of your debt and you're offering a deal.

Ted also explains that there is usually no court hearing in a consumer proposal and it is rare in a bankruptcy, unless you fail to complete your duties.

Doug Hoyes: And I think it's the creditor component that's the big difference»cause in a consumer proposal the creditors have their say upfront.

In a consumer proposal your income does not affect the amount that you pay or the length of your proposal.

So, the whole concept then in a consumer proposal is, you take what I would have had to pay in bankruptcy, offer a little bit more because we need the creditors to say yes to it; but I can stretch those payments out over a longer period of time then what would happen in a bankruptcy.

In a consumer proposal, Mary and Joe could offer $ 20,000 which is more than the $ 15,000 in a bankruptcy.

If you have been unable to negotiate a reasonable repayment of your student loans on your own, it may be difficult to find a monthly payment in a consumer proposal that your creditors will accept and that you can afford.

To reiterate: A former student's student loans, if less than seven years old, will only be discharged in a consumer proposal if the student lender specifically votes in favour of the proposal.

In a consumer proposal no - one seizes anything.

In a consumer proposal, you do not necessarily repay all of your debts in full.

Student loans are similar to all unsecured debts: they can be eliminated in a consumer proposal.

In a consumer proposal you can offer your creditors a low monthly payment over a period of up to five years.

In a consumer proposal, your payment is fixed.

In a consumer proposal, you make the monthly payment to your trustee.

In a consumer proposal you are paying a set amount, so if you pay it faster, the proposal ends sooner.

However, you can begin to rebuild your credit rating with in a consumer proposal.

In a consumer proposal, you make a deal with your creditors to settle your debts for a portion of what you owe.

In a consumer proposal you will be required to file all tax returns, both up to and after the date of filing and all tax refunds are yours to keep.

In a consumer proposal you keep all your assets.

This article will explain which debts can be included in a consumer proposal and any limitations on what debts can...

They can properly assess your situation and let you know how each of your debts are treated in a consumer proposal.

The amount you will be required to pay in a consumer proposal is based on many factors.

In a consumer proposal you can repay that equity over a period of up to 5 years.