Sentences with phrase «filing consumer proposal»

As a legal proceeding under the Bankruptcy & Insolvency Act, filing a consumer proposal provides you with the same protections you would receive in a bankruptcy,... Read more»

Doug Hoyes: And that's why the success rate on consumer proposal is so high; if the creditors know they're going to get more money in a consumer proposal than they're going to get in a bankruptcy, and the person who owes the money is filing the consumer proposal because they want to avoid bankruptcy, they want to pay back at least a portion of their debts.

At Hoyes, Michalos & Associates we have helped roughly 40,000 people in Ontario find relief from their debt by declaring bankruptcy or filing a consumer proposal.

In the interim, if you have received letters like this after filing a consumer proposal, and if your student loans were older than 7 years when you filed the proposal, speak to your proposal administrator.

Filing a consumer proposal is done after you determine your proposal terms.

Therefore, before declaring bankruptcy or filing a consumer proposal, you should consult with a bankruptcy trustee to assess the chances that the government may object to your discharge, and to confirm that you have in fact acted in good faith and would suffer hardship if you were required to repay the student loan.

Second, you meet with a licensed bankruptcy trustee to review your options, which may also include filing a consumer proposal as an alternative to bankruptcy in Canada (in the U.S. you would need to consider a Chapter 13 Wage Earner Plan).

There are many factors to take into account when filing a consumer proposal.

Filing a consumer proposal may not be an option if you do not have a steady or sufficient income to support your proposal payments.

If your bank account has been frozen, this too can be addressed by filing a consumer proposal or bankruptcy.

If you are thinking about filing a consumer proposal there are 5 things you should know.

Filing a consumer proposal also provides protection from your creditors.

She, like most people, did not know very much about her options — but our team was able to help her fully understand not only bankruptcy, but her other options, such as filing a consumer proposal, which allows a debtor to keep their assets and can give a fresh start while avoiding bankruptcy.

By filing a consumer proposal, your monthly payment may be lower, and you know exactly what you are required to pay, which accounts in part for the increase in consumer proposal filings in Canada.

Giving a voice, and emotions to a person who achieved a financial fresh start through filing a Consumer Proposal.

Filing a consumer proposal has given her the peace of mind that someone is available to help her at a time when she feels financially vulnerable.

Comparing some key differences between filing a Consumer Proposal and using traditional credit counselling.

Basically, filing a consumer proposal or personal bankruptcy will not stop your obligation to pay child support or alimony.

Filing a consumer proposal or bankruptcy protects you from unsecured creditors but not secured creditors.

My husband and I are considering filing a consumer proposal.

Our New Westminster bankruptcy and debt consolidation service team can support you in a range of solutions; whether you are interested in learning more about how personal bankruptcy works in BC, or in consolidating debts by filing a Consumer Proposal.

If you are getting a raise, an inheritance, or a performance bonus, you may want to think of filing a consumer proposal as an alternative to bankruptcy.

Obviously most of the stuff that we post is about debt so we get lots of people commenting on how to avoid paying debt without going bankrupt or filing a consumer proposal.

We can help you avoid bankruptcy by filing a consumer proposal, which allows you to keep your assets.

The good news is you can build a 5 - year debt repayment plan by filing a consumer proposal.

If I am filing a consumer proposal, do I have to disclose non-taxable pension that I receive from the Department of Veteran Affairs?

Filing a consumer proposal is supposed to help you solve your financial problems — if you don't fully understand what you are signing, please take the time to ask questions.

You have decided to on filing consumer proposal in order to obtain relief from your financial difficulties, you have verified that you are eligible, and your proposal terms have been worked out.

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.

Access to credit will be limited after filing a consumer proposal.

Now having said that, if you do actually have an appreciable amount of equity in your property then we're going to suggest that we consider filing a consumer proposal; making an offer to the creditors to pay back part of what you owe but protecting the property as part of the deal.

In the Vaughan and Woodbridge area, almost 7 in 10 people who file insolvency avoid bankruptcy by filing a consumer proposal.

The average person filing a consumer proposal with our firm owes approximately $ 52,000 in unsecured debts including credit card debt, bank & financing loans such as unsecured lines of credit, tax debts and payday loans.

However, there are benefits to filing a consumer proposal as a way to deal with your debt, and many (about 50 % in Ontario) choose this route to get debt relief.

A common concern is if you are permitted to be self - employed after filing a consumer proposal.

All of a sudden there was a significant financial benefit, in terms of monthly costs, to consider filing a consumer proposal.

Even if you have not ceased being a student at least 7 years ago, you may still find relief from student loan debt by filing a consumer proposal because:

Rebuilding your credit is critical after filing a consumer proposal and we highly recommend looking at credit products such as a secured credit card or secured GIC after your proposal to begin the rebuilding process.

Alternatively, when filing a consumer proposal, you have an option to keep any credit cards that have a nil balance.

If you find yourself completely buried in debt and you don't think you have any choice but to file for bankruptcy, you may be able to avoid bankruptcy by filing a consumer proposal.

The main reason most people consider filing a consumer proposal is that they want to stop the companies they owe money to (their creditors) from calling.

Filing a consumer proposal or bankruptcy creates an automatic «stay of proceedings» under federal law.

One is by coming in to talk to us about filing a consumer proposal.

You want to eliminate your debts by filing a consumer proposal, but you are afraid that your credit score will be harmed, and you will never be able to borrow again.

Your debt solution may involve bankruptcy, but it could include filing a consumer proposal as an alternative to bankruptcy.

I'd like to tell you about someone who came to talk to me about filing a consumer proposal.

During your free confidential meeting with us, we will discuss all options available to you, including debt consolidation, filing a Consumer Proposal, considering personal bankruptcy, or simply sound advice on household budgeting.

This means that is you're having your wages garnisheed, or receiving collection calls, those stop after filing your consumer proposal.

After this 7 year «waiting period» however, if you still haven't been able to earn enough income to repay your student loans, personal bankruptcy or filing a consumer proposal can be a good option.

Whenever I met with to discuss filing a consumer proposal one of the questions I ask is «do you bank where you owe».