Leamington
Gordon Sands Can I lose my home in a consumer proposal? This is a question that many individuals find themselves asking when they’re on the verge of filing a consumer proposal. It’s a valid concern, as your home is a significant asset and more importantly, it’s where your heart resides. Understanding Consumer Proposal A consumer proposal is … Read more
Applying for the Ontario Student Assistance Program (OSAP) while in a consumer proposal can feel like a daunting task. Yet, it’s a question that often comes up for those who are navigating their financial situations while also aiming to continue their education. This article offers a thorough exploration of this topic, shedding light on the … Read more
Consumer proposals are a common debt management solution in Canada. Those who have completed their consumer proposals often wonder, “Can I get a mortgage after my consumer proposal?”. The answer is yes, but it requires careful planning, rebuilding your credit, and finding the right lender. In this guide, we will explore how you can secure … Read more
The idea of securing a mortgage after bankruptcy might seem implausible to some. However, contrary to common misconceptions, it’s not impossible. This article aims to demystify the process of obtaining a mortgage post-bankruptcy and offer valuable insights to help you navigate this journey. Understanding Mortgage After Bankruptcy The Misconceptions Bankruptcy is often seen as a … Read more
Today, we will delve into one of the most frequently asked questions when it comes to consumer proposals – Can I get a loan to pay off my consumer proposal? This query is common, especially among those who are currently in the midst of a consumer proposal and are eager to get back on track … Read more
Navigating Consumer Proposals: Keeping Your Credit Card Intact In the world of finance, dealing with debt isn’t always a walk in the park. Sometimes, it can feel like you’re navigating through a treacherous jungle. But there’s no need to fear, as there are solutions such as the consumer proposal. A consumer proposal is a formal, … Read more
A consumer proposal is a legally binding process governed by the Bankruptcy and Insolvency Act in Canada. It offers a lifeline to individuals grappling with insurmountable debt. But one question that often pops up is: Can I get a credit card after a consumer proposal? This article provides an in-depth analysis of this query. Understanding … Read more
Understanding Consumer Proposal and Loan Cosigning: A Comprehensive Guide In this article, we delve into the complexities of financial management, particularly focusing on the question, “Can I cosign for a loan while declaring a consumer proposal?” We will dissect the concept of consumer proposals and loan cosigning, the potential pitfalls, and the best approaches to … Read more
Consumer proposals have become the go-to solution for many Canadians grappling with financial difficulties. While it provides a structured scheme to pay off debt, many wonder if they can still invest in necessities like a car during this period. The burning question is, “Can I get a car loan while in a consumer proposal?” Let’s … Read more
Understanding Consumer Proposals and Legal Implications Are you in the midst of a consumer proposal and wondering, “Can I be sued while in a consumer proposal?” It’s a common concern that many people have. But don’t worry, this article aims to provide comprehensive insights on this subject matter. Consumer proposal is a legal term that … Read more
Dealing with a consumer proposal often raises the question, “Can I apply for a loan if I have a consumer proposal?” This is a common query for individuals with consumer proposals in Canada, but the answer isn’t as straightforward as it may seem. This article will delve into the intricacies of applying for a loan … Read more
A consumer proposal is a debt management strategy employed by individuals who find it challenging to meet their financial obligations. It’s a legally binding agreement between a debtor and their creditors, facilitated by a Licensed Insolvency Trustee (LIT). As the name implies, a consumer proposal is a proposition made to creditors to modify payment terms, … Read more
A consumer proposal, a common debt repayment program in Canada, provides a lifeline for individuals grappling with high-interest unsecured debts. It’s a legal agreement formulated between a debtor and creditors, allowing the debtor to pay back a portion of their debt over a specific period, usually up to five years. One intriguing aspect of this … Read more
Safeguarding Home Equity in an Ontario Bankruptcy This piece explores recent changes to Ontario’s Bankruptcy Exemption Law, specifically focusing on how they help protect individuals’ home equity. These changes, effective from December 16, 2020, have increased the protection levels for vehicles, furniture, and houses from seizure by creditors, even when individuals file for bankruptcy. Introduction … Read more
Filing a consumer proposal is a critical step for many individuals seeking debt relief. It’s a legal process that requires the guidance of a licensed professional. But where exactly should you file a consumer proposal? This article aims to enlighten you on every aspect related to where to get a consumer proposal filed. The Basics … Read more
The Benefits of Opting for a Consumer Proposal Over Bankruptcy in British Columbia In the realm of debt management, understanding the various alternatives can be daunting, particularly when grappling with financial stress. One option that has gained traction in British Columbia is the Consumer Proposal. This legal debt management tool, often considered Canada’s top alternative … Read more
Life often throws curveballs that can land us in financial hot water. From unexpected job loss, medical emergencies, to separation or divorce, such events can lead to a mountain of debt. But when such financial turmoil strikes, what should you do when a life event leads to debt? This article provides insights to help you … Read more
A Comprehensive Guide to Becoming Debt-Free: Identifying the Hidden Factors Dealing with debt can be overwhelming. It takes more than just a well-structured plan or a handful of strategies to get out of the debt trap. Sometimes, we miss out on some crucial factors in our plan to get rid of debt and become debt-free. … Read more
Prioritizing Debts: Knowing Which Loans Can Be Set Aside If you are overwhelmed with multiple debts, understanding which loans don’t necessarily have to be paid off immediately can provide a strategic route to efficient debt management. This doesn’t imply ignoring certain debts, but rather strategically allocating resources to pay off more expensive debts first while … Read more
Navigating the complex world of bankruptcy can be overwhelming, especially when it comes to understanding the intricacies of debts not yet due. As such, the question arises – Can You File Bankruptcy on Debts Not Due? This article aims to shed some light on this subject by explaining the concepts of contingent debt, disputed debt, … Read more
