Sentences with phrase «end of the consumer proposal»

At the end of the consumer proposal, all debts are discharged, even if you have not repaid them in full.

Not exact matches

As of the end of July, there were nearly 123,000 consumer proposals and personal bankruptcies filed by Canadians this year, a decline of 1.2 per cent from the same period last year.

→ 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.

My consumer proposal estimated our debt at around $ 33,000, which included an estimate of what we'd end up owing once our house sold.

I'm a Licensed Insolvency Trustee and my firm, Hoyes, Michalos & Associates does thousands of consumer proposals and bankruptcies for people who turn to debt to make ends meet and eventually found themselves in deeper trouble.

After making all payments as agreed, we will issue you a Certificate of Completion that ends the Consumer Proposal process.

In the end, Frank & Susan filed a consumer proposal (owning their own home, and with both having a good pension the cost of filing bankruptcy was too high) while Karen & Bill, with 3 dependents, found bankruptcy to be the better solution.

Doug Hoyes: Yeah and I think that's the key point because of all the people who contact us, at most about a third of them are going to end up filing a consumer proposal or a personal bankruptcy which means okay two thirds or more are going somewhere else.

Among other changes, the Board's proposal would improve the disclosure of the annual percentage rate on closed - end mortgages and require lenders to show consumers how much their monthly payments might increase for adjustable - rate mortgages.

Yes, might encounter major problems where the consumer proposal is filed less than seven years from the date of end of debtor?s education

A person making a consumer proposal more than seven years after the end of their education is entitled to an automatic discharge or forgiveness of their student loan debt on the date they pay all monies owing under their consumer proposal.

Most entities that provide student loans take the position that, where a person makes a consumer proposal less than seven years from the date of the end of their education then their student loan indebtedness is unaffected by any potential discharge?which normally takes place on the date of the last payment under the consumer proposal.

If you filed for personal bankruptcy or made a consumer proposal and you did so less than seven years after the end of your post-secondary education then you are not entitled to an automatic discharge or forgiveness of your student loan debts.

In fact, of all the people who call us, only 1 in 5 will end up filing bankruptcy or a consumer proposal.

That's really where the similarities end so give me a quick overview, give me the 10 second overview of what a consumer proposal is.

In the Bureau's 2012 RESPA Mortgage Servicing Proposal, the Bureau proposed to limit the scope of the servicing disclosure statement to closed - end reverse mortgage transactions to conform § 1024.33 (a) to the comprehensive amendments to consumer mortgage disclosures proposed by the Bureau in the TILA - RESPA Proposal.

As noted in the proposal, certain closed - end consumer credit transactions are subject to the requirements of proposed § 1026.19 (e) but do not fall within the Regulation X definition of «federally related mortgage loan.»