Consumer Proposal Archives - Fresh Start Now Bankruptcy & Consumer Proposal Tue, 20 May 2025 16:42:06 +0000 en-CA hourly 1 Credit counseling vs. consumer proposal: What’s the difference? https://freshstartnow.ca/faq-items/credit-counseling-vs-consumer-proposal-whats-the-difference/ https://freshstartnow.ca/faq-items/credit-counseling-vs-consumer-proposal-whats-the-difference/#respond Tue, 20 May 2025 16:42:06 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5131 Credit counseling is an informal debt repayment plan where you repay the full amount over time, usually with reduced or no interest. A consumer proposal is a legally binding agreement where you typically negotiate to pay a reduced amount of the total debt

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]]> Credit counseling is an informal debt repayment plan where you repay the full amount over time, usually with reduced or no interest. A consumer proposal is a legally binding agreement where you typically negotiate to pay a reduced amount of the total debt

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]]> https://freshstartnow.ca/faq-items/credit-counseling-vs-consumer-proposal-whats-the-difference/feed/ 0 How long does a consumer proposal affect your credit in Canada? https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-affect-your-credit-in-canada/ https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-affect-your-credit-in-canada/#respond Tue, 20 May 2025 16:33:16 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5125 A consumer proposal affects your credit for up to six years from the filing date or three years after completion, whichever is sooner.

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]]> A consumer proposal affects your credit for up to six years from the filing date or three years after completion, whichever is sooner.

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]]> https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-affect-your-credit-in-canada/feed/ 0 Can credit card companies garnish your wages in Canada? https://freshstartnow.ca/faq-items/can-credit-card-companies-garnish-your-wages-in-canada/ https://freshstartnow.ca/faq-items/can-credit-card-companies-garnish-your-wages-in-canada/#respond Tue, 20 May 2025 16:32:22 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5123 Yes, but only after obtaining a Court judgment against you.

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]]> Yes, but only after obtaining a Court judgment against you.

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]]> https://freshstartnow.ca/faq-items/can-credit-card-companies-garnish-your-wages-in-canada/feed/ 0 Can CRA Freeze Your Bank Account? https://freshstartnow.ca/faq-items/can-cra-freeze-your-bank-account/ https://freshstartnow.ca/faq-items/can-cra-freeze-your-bank-account/#respond Tue, 20 May 2025 16:30:15 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5119 Yes, the CRA can freeze your account without a Court order if you have outstanding tax debts. The freeze will remain in place until the debt is resolved, a payment arrangement is made or you file an assignment in bankruptcy or consumer proposal.

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]]> Yes, the CRA can freeze your account without a Court order if you have outstanding tax debts. The freeze will remain in place until the debt is resolved, a payment arrangement is made or you file an assignment in bankruptcy or consumer proposal.

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]]> https://freshstartnow.ca/faq-items/can-cra-freeze-your-bank-account/feed/ 0 How to qualify for a consumer proposal in Canada https://freshstartnow.ca/faq-items/how-to-qualify-for-a-consumer-proposal-in-canada/ https://freshstartnow.ca/faq-items/how-to-qualify-for-a-consumer-proposal-in-canada/#respond Tue, 20 May 2025 16:06:16 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5117 You must owe between $1,000 and $250,000 (excluding your mortgage) and be unable to repay your debts in full. A Licensed Insolvency Trustee will assess your financial situation to determine eligibility.

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]]> You must owe between $1,000 and $250,000 (excluding your mortgage) and be unable to repay your debts in full. A Licensed Insolvency Trustee will assess your financial situation to determine eligibility.

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]]> https://freshstartnow.ca/faq-items/how-to-qualify-for-a-consumer-proposal-in-canada/feed/ 0 What happens 45 days after filing a consumer proposal? https://freshstartnow.ca/faq-items/19-what-happens-45-days-after-filing-a-consumer-proposal/ https://freshstartnow.ca/faq-items/19-what-happens-45-days-after-filing-a-consumer-proposal/#respond Tue, 20 May 2025 15:59:54 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5114 Creditors have 45 days to review and vote on the proposal. If the majority accept it, the proposal becomes legally binding, and you begin making payments under the agreed terms.

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]]> Creditors have 45 days to review and vote on the proposal. If the majority accept it, the proposal becomes legally binding, and you begin making payments under the agreed terms.

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]]> https://freshstartnow.ca/faq-items/19-what-happens-45-days-after-filing-a-consumer-proposal/feed/ 0 How long does a consumer proposal stay on your record in Canada? https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-stay-on-your-record-in-canada/ https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-stay-on-your-record-in-canada/#respond Tue, 20 May 2025 15:57:28 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5110 A consumer proposal remains on your credit record for three years after completion or six years from the filing date, whichever comes first.

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]]> A consumer proposal remains on your credit record for three years after completion or six years from the filing date, whichever comes first.

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]]> https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-stay-on-your-record-in-canada/feed/ 0 Who can put a lien on your house in Ontario? https://freshstartnow.ca/faq-items/who-can-put-a-lien-on-your-house-in-ontario/ https://freshstartnow.ca/faq-items/who-can-put-a-lien-on-your-house-in-ontario/#respond Tue, 20 May 2025 14:53:45 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5108 Creditors, the CRA, secured lenders, and contractors who have completed work on your home can place a lien on your house if debts remain unpaid. A lien can prevent the sale or refinancing of the property until the debt is settled.

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]]> Creditors, the CRA, secured lenders, and contractors who have completed work on your home can place a lien on your house if debts remain unpaid. A lien can prevent the sale or refinancing of the property until the debt is settled.

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]]> https://freshstartnow.ca/faq-items/who-can-put-a-lien-on-your-house-in-ontario/feed/ 0 How long does a consumer proposal take to complete? https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-take-to-complete/ https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-take-to-complete/#respond Fri, 16 May 2025 13:51:47 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5104 A consumer proposal typically takes five years to complete, depending on the terms negotiated with creditors. You may be able to pay it off sooner if you make larger payments.

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]]> A consumer proposal typically takes five years to complete, depending on the terms negotiated with creditors. You may be able to pay it off sooner if you make larger payments.

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]]> https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-take-to-complete/feed/ 0 How long does a consumer proposal last? https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-last/ https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-last/#respond Fri, 09 May 2025 20:41:54 +0000 https://freshstartnow.ca/?post_type=avada_faq&p=5076 A consumer proposal can last up to five years, but the exact duration depends on the repayment agreement reached with creditors. Some proposals may be paid off sooner if the debtor is able to make larger payments.

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]]> A consumer proposal can last up to five years, but the exact duration depends on the repayment agreement reached with creditors. Some proposals may be paid off sooner if the debtor is able to make larger payments.

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]]> https://freshstartnow.ca/faq-items/how-long-does-a-consumer-proposal-last/feed/ 0