Campbell, Saunders Ltd. provides help in creating a financial plan for you to deal with insolvency, debt payments, and bankruptcy. We have a team of experienced professionals that have answers to all your questions regarding consumer proposals, proposal to creditors, and how to manage finance during bankruptcy. On this page, you will find answers to some of the frequently asked questions. Contact us for more information.
Consumer Proposals – FAQ
How Do I Know If I Qualify for a Consumer Proposal?
If your debt is at least $1,000, but less than $250,000 (excluding your mortgage) and you haven’t filed another consumer proposal recently (or a Division I Proposal/Notice of Intention) you should qualify. If your debt is more than $250,000 you may consider filing a Division I proposal.
What Do I Need to Do to File?
How Long Does It Take?
What Happens If I Can’t Make My Payments?
Can I Keep My Home? What about My Car?
What Happens to My Spouse If I File a Consumer Proposal?
What Does a Consumer Proposal Cost?
What Happens If My Creditors Don’t Accept My Consumer Proposal?
What Happens to My Credit Rating?
Can I Keep My Credit Cards?
How Do I Rebuild My Credit?
The Legal Stuff
Is the Trustee My Lawyer?
No. Trustees are not lawyers; they are impartial officers of the court with a duty to administer the bankruptcy and proposal system fairly and honestly. We are regulated by the Office of the Superintendent of Bankruptcy.
Do I Need a Lawyer?
Are My Discussions with My Trustee Confidential?
What Legal Aspects of Bankruptcy or Proposals Do I Need to Understand?
Proposal to Creditors – FAQ
Can Filing a Proposal Stop Garnishment of My Wages?
Yes, filing a consumer proposal will stop garnishments, with the exception of garnishments for child and spousal support.
Upon filing, we will immediately inform all garnishing creditors.
When Will Creditors Stop Collection Calls?
Can I Keep My Home? What about My Car?
If I File a Proposal, Will My Spouse Be Obligated to Pay My Debts?
What Does a Consumer Proposal Cost?
Can Personal Income Tax Debts Be Included in a Proposal?
How Long Can a Proposal Last For?
What Happens If My Creditors Don’t Accept My Consumer Proposal?
What Happens to My Credit Rating?
Can I Keep My Credit Cards?
Is the Licensed Insolvency Trustee My Lawyer?
Are My Discussions with My Licensed Insolvency Trustee Confidential?
Bankruptcy – FAQ
Are My RRSPs Protected?
Only RRSP contributions within the twelve (12) month period prior to your date of bankruptcy are not protected. Should your RRSP be part of a Life Insurance contract, it may be protected depending on who the beneficiaries are.
Can Filing an Assignment in Bankruptcy Stop the Garnishment of My Wages?
When Will Creditors Stop Collection Calls?
If I Go Bankrupt Will My Spouse Be Obligated To Pay My Debts?
Will I Lose My Car?
Will I Lose My House?
Can Personal Income Tax Debts Be Included in My Bankruptcy?
Will My Credit Report Be Affected?
Can I Keep My Credit Cards?
Is the Licensed Insolvency Trustee My Lawyer?
Are My Discussions with My Trustee Confidential?