Consumer Proposals Archives - Page 3 of 4

Debt Management Program and Car Q&As

Consumer Proposals, COVID Debt Help, Knowledge Blog

February 19, 2013

When I start a DMP, can I keep my car? Yes.

In order to qualify for our special Debt Management Program (DMP) there is no obligation to sell your car. Unlike bankruptcy, you are not required to forfeit your non-exempt assets in order to consolidate your debts.

Can I put my car loan on the program? Maybe.

If you have an auto loan and you still own that vehicle, it is considered a secured debt and cannot be added to a DMP. Only unsecured debts qualify for debt consolidation. However, if you no longer possess the vehicle, or the value of the vehicle is so low compared to the amount owing on the loan, then the auto loan may be actually unsecured and it is possible to be added to your debt repayment program.

How Can I Get Debt Relief?

Bankruptcy, Consumer Proposals, Debt Relief

Struggling to make only your minimum payments, or not being able to make any payments and having your debt in collections can add a lot of stress to your life.…

Debt Management Program vs Bankruptcy: How do they Stack Up?

Bankruptcy, Consumer Proposals, Credit Counselling, Debt Repayment Agency, Knowledge Blog

Debt Management Program versus Bankruptcy – what’s the difference? Which is better? Compare the details, the lifestyle and the result with this infographic.

Debt Repayment Options

Bankruptcy, Consumer Proposals, Credit Counselling, Financial Literacy, Knowledge Blog

June 28, 2012

Are You Confused About the Difference Between Various Debt Repayment Options?

Financial hardship can happen to anyone and it is often unexpected. A loss of employment, medical emergency or a change in personal circumstances, such as a divorce, can quickly put somebody behind on their bills. With personal consumer debt becoming an increasing concern for Canadians, Consumer Protection BC (CPBC) has noticed a growing number of new businesses entering the marketplace offering a variety of debt repayment or “debt solution” options.

Consumer Proposals and Bankruptcy

Debt Relief, Bankruptcy, Consumer Proposals, COVID Debt Help, Debt Help, Knowledge Blog

What It All Means Coming to terms with insolvency is emotionally draining for people and the stress can be overwhelming. Constant calls from creditors/debt collectors at home and even at…