Sentences with phrase «filing of the consumer proposal»

The filing of a consumer proposal puts a stop to these calls and letters.

If you can not negotiate any reduction on these payments directly with the credit card company the only way to do this would be through the filing of a consumer proposal.

You may want to contact a licensed trustee and look at the filing of a consumer proposals.

In some cases this may require the filing of a consumer proposal before you retire to eliminate your debts.

A Stay of Proceedings is a powerful benefit as a result of the filing of a consumer proposal or a personal bankruptcy.

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.

The firm has offices across Ontario and in 2011, roughly one - third of the firm's clients owned a home when they filed for bankruptcy or a consumer proposal.

That is why 99 % of consumer proposals filed with us are accepted.

If you have filed bankruptcy already you can talk to your trustee about the possibility of filing a Consumer Proposal even while bankrupt.

Our information is an analysis of individuals that filed either personal bankruptcy or a consumer proposal in 2015 and 2016 with our firm.

If you're considering filing bankruptcy or a consumer proposal, the best source of information is an expert in personal insolvency....

A consumer proposal is a legal procedure that allows Canadians to repay a portion of their debts, instead of filing an assignment in bankruptcy.

Providing many of the same benefits as filing bankruptcy, including creditor protection and elimination of overwhelming debts, by choosing a consumer proposal, people with severe debt problems gain several advantages over other forms of debt relief the most significant of which is dramatically lower monthly payments and avoiding bankruptcy.

Filing a Consumer Proposal: Your total debt can not exceed $ 250,000 (excluding a mortgage) and you must be able to afford to repay a portion of your debts.

When you file a Consumer Proposal, you agree to pay a portion of what you owe, and the creditors forgive the balance.

One way to keep your tax refund is to file a consumer proposal instead of personal bankruptcy.

In fact in the Kitchener — Waterloo — Wellington area 60 % of the files we do are consumer proposals.

When you file a consumer proposal, you consent to pay a portion of what you owe and your creditors consent to forgive the balance, take a hair cut.

An individual's value to his creditors at time of filing a consumer proposal comprises his assets valued at liquidation (auction) pricing (that may be a garage sale for your furniture and household goods, the wholesale cash buyer for your car, or the pawnbroker for your jewellery) after deducting exemption in prescribed, legislated amount (s) for car, household goods, clothing, tools of the trade, medical aids, home, life insurance, pensions, RRSP, etc., which amounts to little or nothing for the large majority of us, less than our debt in any case.

The decision to file a consumer proposal or bankruptcy should be based on whether you need relief from your debts and comparing the cost and impact of each option on your budget and assets.

If you have been out of school for less than 7 years, you can still file a consumer proposal but things get more complicated.

When you file a consumer proposal you offer to repay part of what you owe.

When you file a consumer proposal you are telling all of your creditors you can no longer pay them the amount you borrowed.

When my firm, Hoyes, Michalos & Associates, did a study of people who filed a bankruptcy or consumer proposal with us, we found that the average senior debtor owed almost $ 70,000 in unsecured debt, which was the second highest among all age groups.

It is also important that you select a trustee that handles enough consumer proposals to be familiar with all of the nuances associated with filing.

Not only can a consumer proposal be reviewed with you, but they'll also go over the merits and consequences of filing bankruptcy.

He goes on to say that filing a joint consumer proposal would be around half of that cost because you're only dealing with the debt once.

When considering filing a consumer proposal, you will want to talk to a Licensed Insolvency Trustee — make sure that proposal payment terms are on your list of items to discuss with the Trustee.

The amount of seniors (60 +) that file a bankruptcy or consumer proposal with our firm has increased from 10 % to 12 % over the past two studies.

One of the duties and responsibilities of filing for either bankruptcy or a consumer proposal is the requirement to attend two financial counselling sessions.

Adler looked at the Wolffs» finances, and suggested that instead of filing for bankruptcy, they do a consumer proposal.

Of course, if you're budget is absolutely stretched and you can't afford to pay anything back, you can always opt to file a consumer proposal or bankruptcy for your wife.

Prior to the new legislation, consumers with significant unsecured debt could safeguard their home equity by filing a consumer proposal and offering the equivalent «value» to their creditors as part of their settlement terms.

We've analyzed the numbers for our clients across Ontario, and we've found that almost one third of my clients, people who have so much debt that they have no choice but to file a consumer proposal or bankruptcy, owe almost $ 3,500 on not just one but over 3 payday loans when they file with us.

A consumer proposal is for people who are unable to repay the full amount of their debts, but don't want to file personal bankruptcy.

For people who are simply unable to pay back all of their debts, the decision often comes down to filing a consumer proposal or personal bankruptcy.

In fact, prior to these changes, 42 % of all homeowners who filed a consumer proposal had no equity in their home.

So I'm in a room and there's a hundred people in there, more than 10 of them at some point are going to be in such financial difficulty that they're going to have file a bankruptcy or consumer proposal.

In Ted's view, it's a chilling fact that 31 % of our clients have payday loans when they file a bankruptcy or consumer proposal.

Consumer proposals may be filed jointly by more than one person as long as all or substantially all of their debts are similar.

So, of our clients who have filed either a consumer proposal or a bankruptcy, what can you tell us about the level of student loan, student debt that they're carrying?

Is having debt or filing a consumer proposal or bankruptcy an admission of defeat?

Those who file bankruptcy or a consumer proposal with the highest amount of student debt are between 30 and 39 years of age and have been out of school for more than seven years.

By filing a consumer proposal or personal bankruptcy, you are protected from your creditors, will eliminate all or most of your debts and be permitted to keep your investments (minus contributions made in the last 12 months).

60 % of those who file a bankruptcy or consumer proposal with student debt are female and have 20 % higher debt loads than their male counterparts; namely $ 15,000 vs. $ 12,000.

Did you know that three out of four debtors who own a home choose to file a Consumer Proposal rather than declare bankruptcy?

If the Consumer Proposal has been successfully filed, accepted by your creditors, and then paid through completion, a certificate is given indicating the full performance of the proposal to you and the Official RProposal has been successfully filed, accepted by your creditors, and then paid through completion, a certificate is given indicating the full performance of the proposal to you and the Official Rproposal to you and the Official Receiver.

In our recent look at debtors in Ontario, 56 % of debtors filed a Consumer Proposal, compared to just 44 % who filed bankruptcy.

Once an individual reaches this point of financial insecurity, they pursue one of two options: filing a consumer proposal or declaring bankruptcy.

Fred filed a consumer proposal, and the creditors accepted his offer of $ 300 per month for 60 months, or $ 18,000 in total.