What Assets Can You Keep in a Consumer Proposal?
Did you know that if you file for a consumer proposal your assets are fully protected? We break all the information down for you, from how a proposal affects your home, vehicle and other investments.
Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
Did you know that if you file for a consumer proposal your assets are fully protected? We break all the information down for you, from how a proposal affects your home, vehicle and other investments.
Debt relief programs have an effect on your credit report, including credit counselling. In this blog post find out how, and for how long, different debt relief programs can affect your credit rating.
What makes a debt a joint debt? What are the implications of cosigning a loan with your spouse. Doug Hoyes reviews when you are responsible for your spouse's debts and what happens if they file insolvency.
Find out what debt consolidation loans and consumer proposals are, and learn the pros and cons of which debt restructing option will best help you manage, and eliminate, your debts.
Managing multiple debt payments can feel overwhelming. If you’re struggling to keep track of various credit card bills, loans, and other unsecured debts, you might be wondering if debt consolidation is the answer. While consolidating... Read more »
There are both legal and practical requirements an individual must meet to be eligible to file a consumer proposal. If you are struggling with debt repayment, find out if you should explore a consumer proposal further.
Are you worried about filing for a consumer proposal, and it not being accepted by all of your creditors? Find out how creditors vote on your proposal and what you can do if it gets rejected.
There are financial responsibilities you should meet before you retire. Here is our retirement planning guide, where we explore how much to save, what to do with debt and how to effectively prepare for it.
Did you know there is a surplus income penalty in a bankruptcy if you make more than the ‘threshold’ income? Doug Hoyes explains how to calculate this and ways you can avoid a penalty all together.
If you are considering divorce and carrying a lot of debt, it's important to be strategic with your finances. This post explains what happens to your marital assets, joint debts, and whether you should file an individual or joint bankruptcy or proposal before or after a divorce filing.
Are you delaying bankruptcy because you’re scared of what it entails or what it may change in your life? Find out what can happen if you continue to delay the process and why you don’t need to be afraid.
Are you and your partner considering a joint debt, like a credit card? It's important to know your financial and legal responsibilities here, so we created a guide on what you need to know before co-signing.
The legal ownership of funds in a joint bank account can be complex, especially when it comes to garnishment or creditors' claims. Learn more.
If you ignore a few old debts for long enough will they disappear? Doug Hoyes explains what an old debt is, how they are dealt with and which are excluded from the limitation period.
Understand the difference between the terms insolvency and bankruptcy in Canada. Learn about consumer proposals, the bankruptcy process, and how to choose the right debt relief option for your financial future.
Discover how debt consolidation affects your credit score in Canada. Learn about consolidation methods, their pros and cons, and alternative debt relief options from a Licensed Insolvency Trustee.
It is possible to buy a home and get a mortgage after a consumer proposal. Discover timelines, credit rebuilding strategies, and expert tips from Hoyes Michalos to achieve homeownership post-proposal.
Do you have 407 ETR debts piling up that you can no longer afford to make payments towards? Find out if these debts are considered secured or unsecured, and if they can be eliminated in an insolvency.
Learn how bankruptcy affects EI, CERB, Ontario Works and other government overpayments in Canada. Understand how Section 178 of the BIA affects what debts are dischargeable.
Two credit counselling sessions are mandatory if you decide to file for insolvency. Doug Hoyes explains why they are a required duty of you and what you will learn in these sessions.
Student loans have special treatment in a bankruptcy or consumer proposal. We explain the 7-year rule, what it means for your student loan to be discharged and how to find your end of study date.