I separated six months ago, and all the debts are in my name (mortgage, RV, credit cards, lines of credit, loans, and student loans). I would like to file a consumer proposal because I am currently unemployed (I worked for my spouse's company). Can the student loan be included and reduced in a proposal, or only in bankruptcy? And are the children's RESPs also subject to seizure? Another question: would a second mortgage on the house be included in the proposal (it's held with the same bank as the first mortgage)?
If you stopped being a student less than 7 years ago, neither bankruptcy nor a proposal will release you from this debt.
Registered Education Savings Plans (RESPs) are subject to seizure in the event of bankruptcy.
The proposal could include an offer on the second mortgage, but since the first-lien creditor is the same, the chances of success are slim.
Registered Education Savings Plans (RESPs) are subject to seizure in the event of bankruptcy.
The proposal could include an offer on the second mortgage, but since the first-lien creditor is the same, the chances of success are slim.
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?