I lost my job a little over a month after entering into a consumer proposal agreement, under which I committed to paying $500 a month for 48 months. I am therefore about to receive Employment Insurance. Do you think it would be possible for me to renegotiate my proposal and lower my debt given my circumstances, and that this revision would be accepted by my creditors? If this revised proposal is refused, I would have no choice but to declare bankruptcy. In that event, would I be able to change trustees to handle my case, or would I be forced to work with the same one?
Your situation may qualify for a review. The best course of action is to consult your trustee to request one.
If you were forced to declare bankruptcy, you could change trustees; that's your decision.
If you were forced to declare bankruptcy, you could change trustees; that's your decision.
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)?
- 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?
- 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?