Can my spouse and I submit a proposal at the same time? We have approximately $115,000 in debt. Can we also include our line of credit and credit facilities in this proposal? My mortgage renewal is due next year: could the financial institution refuse me?
Yes, you can make a joint proposal and include all your debts.
As for renewing your mortgage, you might encounter difficulties, although experience suggests this is not usually the case.
As for renewing your mortgage, you might encounter difficulties, although experience suggests this is not usually the case.
Questions reliées
- A few months ago, I bought a new car, financed by the bank. My partner signed the loan agreement, and I was the co-buyer. If I sign a consumer proposal, what impact will it have on the loan? I don't want my partner to be disadvantaged.
- Can I consider the consumer proposal even if I am receiving unemployment insurance benefits (I have the maximum benefits)?
- Does making a consumer proposal impact our job prospects? To work for the government, applicants are required to sign an authorization to check references, criminal record, and credit before being hired.
- For the past few years, the provincial government has been garnishing my wages. After all this time, I'm at my wit's end. However, I'm indebted to friends and family. I also owe Hydro-Québec, Mastercard, and now the federal government is demanding over $4,000, which will result in another wage garnishment. I'm in debt and I couldn't pay my rent this month. Can I include my unpaid rent in my consumer proposal since my landlord has gone to the Régie du logement (Quebec Rental Board) and the next month is coming up and I won't be able to pay it?
- For the past three to four years, I've stopped making payments on my loans; the remaining amount is around $20,000 (personal loans). Following a workplace accident, I lost my job, and the CSST (Quebec's workers' compensation board) will cut off my benefits within two months. If someone I know can lend me up to $4,000, and I want to settle the debt completely instead of declaring bankruptcy and simultaneously receiving last-resort financial assistance (which I'll be forced to do in two months), is there any chance the collection agency would agree to pay 20% (or slightly less) of the total debt?