Sentences with phrase «number of consumer proposal»

What is surprising is that the number of consumer proposal filings has increased.

Not exact matches

The proposal met with a record number of comments, with a number of health insurance groups expressing concern that the short - term plans will undermine the health exchanges by siphoning off younger, healthier consumers who will no longer face a penalty if they enroll in non-compliant plans in 2019.

To put that number in perspective, it's also important to understand that, in Canada, student loan debt can not be discharged in a bankruptcy or consumer proposal unless the debtor has been out of school at least seven years.

The numbers are even higher in Ontario where more than half of all insolvencies are consumer proposals.

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.

And 13 % is actually a pretty big number because in Canada a student loan only automatically gets discharged or goes away in a bankruptcy or a consumer proposal if you've been out of school for more than seven years.

We're doing an increasing number of bankruptcies and consumer proposals for people over the age of 60 who have debt and are carrying debt into retirement.

Consumer Proposals are the number one alternative to filing personal bankruptcy in Canada and this specialized debt consolidation tool can only be done with the help of a Licensed Insolvency Trustee.

As we can see in the chart below, proposals have become significantly more popular since that time and by 2015, almost half of all insolvency filings in Canada are now consumer proposals, and this number is 55 % in Ontario.

Consumer Proposal will negatively affect your credit rating for a number of years.

Ted explains how filing bankruptcy or a consumer proposal stops the wage garnishment as soon as your trustee gets your file number from the government (which is instantaneous) through a Stay of Proceedings.

In a consumer proposal your payments will average around 30 % of your total debts, although that number can be higher or lower, based on your individual circumstances.

In regards to increasing the number of sessions to one for each year of either bankruptcy or a consumer proposal, my reasoning is two-fold.

So, when we look at our numbers about 9 % of our clients are self - employed at the time they file their consumer proposal or bankruptcy and many of them were self - employed prior to that.

The results of the 2012 BC Consumer Debt Study show that an equal number of males and females and those between the ages 40 - 54 comprised the largest number of bankruptcy or consumer proposal filings in B.C. — with typical debt loads reaching between $ 25,000 to $Consumer Debt Study show that an equal number of males and females and those between the ages 40 - 54 comprised the largest number of bankruptcy or consumer proposal filings in B.C. — with typical debt loads reaching between $ 25,000 to $consumer proposal filings in B.C. — with typical debt loads reaching between $ 25,000 to $ 49,000.

An increasing number of countries are adopting proposals to allow class actions, further burdening businesses in a difficult global economy while creating little, if any, real value for consumers.

As discussed in the section - by - section analysis of § 1026.37 (d) above, the Bureau is responding to comments and the results of consumer testing the Bureau conducted after issuance of the proposal that indicate that negative numbers are confusing for consumers.

Based on this feedback, the Bureau sought comment on whether the use of line numbers would lower software - related costs on industry and the exact amount of the savings given the rest of the changes in the integrated Closing Disclosure contemplated by the proposal, while also improving consumer understanding of the loan terms and costs at the consummation of the credit transaction and the closing of the real estate transaction.

During testing conducted prior to the proposal, consumers tended to use the «Calculating Cash To Close» table in conjunction with the «Closing Cost Details» tables showing itemized charges and subtotals on the Closing Disclosure, to identify the differences between the estimated and actual cash to close amount and its critical components and to gain a better understanding of the numbers underlying the cash to close amount.

As stated in the proposal, the Bureau believes, based on its extensive consumer testing, that rounded disclosures allow consumers to digest the information on the Loan Estimate faster and more easily than disclosure of non-rounded numbers.

Accordingly, in its qualitative testing before issuance of the proposal, the Bureau tested prototypes with a two - digit line numbering system, which performed better with both consumer and industry participants at the Bureau's testing, with some industry participants at the Bureau's testing preferring it over the system of the current RESPA settlement statement.

Based on this feedback, the Bureau sought comment on whether the use of line numbers will lower software - related costs on industry, and the exact amount of the savings given the rest of the changes contemplated by this proposal, while also improving consumer understanding of the loan terms and costs at the consummation of the credit transaction and the closing of the real estate transaction.

Both consumer and industry participants at the Bureau's qualitative testing before issuance of the proposal stated that line numbers would be useful to facilitate conversations between consumers, creditors, and other participants in the credit transaction and underlying real estate transaction.