Home / Blog / Consumer Proposal by Marc Rouleau Like many people, you’ve been doing research on the Internet or perhaps asking family and friends for advice. You’ve decided that a consumer proposal might be the best way to deal with your debt stress and get you back on your feet financially. Good for you! The decision …
Home / Blog / Consumer Proposal “I know I can file a bankruptcy with a Licensed Insolvency Trustee (“LIT”) but I don’t like that option. I’ve heard about a sort of consolidation an LIT can also help me file called a consumer proposal. What is that exactly?” If you are having some financial trouble and are unable …
Home / Blog / Consumer Proposal, Financial In past columns, we’ve discussed several cases where consumer proposals are a practical way to offer a fair settlement to creditors. If you are a business owner, you may be wondering what will happen to your business if you decide to file a consumer proposal. Will you lose …
What will happen to my business if I file a consumer proposal? Read More »
Home / Blog / Consumer Proposal Finances are a fluid thing subject to change for a variety of reasons—and (despite how it may seem sometimes!) not always for the worse. If you’ve filed a consumer proposal only to find that your financial situation has suddenly improved because of a pay raise, new job, or some …
Home / Blog / Consumer Proposal, Bankruptcy If you’re considering the possibility of filing a consumer proposal or declaring bankruptcy, you should be aware that assets such as vehicles are handled very differently in those two procedures. In a consumer proposal, if you own the vehicle free and clear, you simply keep it. If you …
What happens to my vehicle in a consumer proposal or bankruptcy? Read More »
Home / Blog / Consumer Proposal, Bankruptcy If you’re facing the possibility of filing for Consumer proposal or Bankruptcy, you may be concerned about privacy issues, particularly with regard to having your employer find out about your bankruptcy. While it’s true that bankruptcy and consumer proposal records are public, however (meaning they can be accessed by anyone who …
I am filing for Consumer Proposal Or Bankruptcy, Will My Employer Find Out? Read More »
Home / Blog / Bankruptcy, Consumer Proposal Bankruptcy and Consumer Proposals for High Income Earners Contrary to what you might think, financial difficulties are not limited to low or middle income earners. In fact, many professionals with high incomes find themselves in financial hot water because their high incomes blind them to the need to …
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Home / Blog / Bankruptcy, Consumer Proposal If you’re facing either bankruptcy or a consumer proposal, you may be concerned about what will happen to savings set aside for your children either by you or someone else. In the case of a proposal, the answer will most likely be ‘nothing’. As with most assets in …
How will my bankruptcy or consumer proposal affect my children’s bank accounts? Read More »
Home / Blog / Debt, Bankruptcy, Consumer Proposal It’s not uncommon for people in financial difficulty to owe taxes to Canada Revenue Agency (CRA)—sometimes a significant amount of taxes. Many of these people are under the impression that nothing can be done about it, because tax debt is different from other debt and the CRA …
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Home / Blog / Student Loans, Bankruptcy, Consumer Proposal When you declare bankruptcy or file a consumer proposal, most—but not all—of your debts are discharged at the end of your bankruptcy/consumer proposal term. This means your debts are forgiven (in bankruptcy) or considered paid in full (in a consumer proposal), and you’re no longer liable …
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