Most consumer proposals are structured as monthly payments overtime at less than the full payout.
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July 2017 -Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.7% and consumer proposal filings were up 3.4% as compared to the 12-months ended July 31, 2016. New Brunswick – Personal bankruptcies were down 5.9% and consumer proposal filings were up 20.5% as compared to the 12-months ended July 31, 2016.
June 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.9% and consumer proposal filings were up 2.4% as compared to the 12-months ended June 30, 2016. New Brunswick – Personal bankruptcies were down 7.1% and consumer proposal filings were up 14.4% as compared to the 12-months ended June 30, 2016.
May 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 4.9% and consumer proposal filings were up 4.1% as compared to the 12-months ended May 31, 2016.
New Brunswick – Personal bankruptcies were down 6.2% and consumer proposal filings were up 13.8% as compared to the 12-months ended May 31, 2016.
April 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 3.7% and consumer proposal filings were up 5.1% as compared to the 12-months ended April 30, 2016.
New Brunswick – Personal bankruptcies were down 2.9% and consumer proposal filings were up 9.4% as compared to the 12-months ended April 30, 2016.
March 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 2.0% and consumer proposal filings were up 6.7% as compared to the 12-months ended March 2016.
New Brunswick – Personal bankruptcies were down 0.1% and consumer proposal filings were up 7.7% as compared to the 12-months ended March 2016.
The New Debtor Prison
We have found that a new form of debtor prison exists and this is due to excessive phone calls, emails, text messages and mail from creditors and collection agencies. These tactics can leave a person feeling afraid to answer their own phone and for some, it can cause undue stress and anxiety which can negatively affect their everyday life and ability to function at work.
Budgeting 101 – Part 4 of 5
Lumpy expenses, as I call them, are expenses that we know (or should know) are coming down the track and will have to be incurred but only happen once in a lifetime or only once every couple, few, 5, 10 or 15 years (or so). Lumpy expenses can cause significant stress if you have not prepared for them.
October 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were up 0.5% and consumer proposal filings were up 8.7% as compared to the 12-months ended October 31, 2015. New Brunswick – Personal bankruptcies were down 1% and consumer proposal filings were up 1.3% as compared to the 12-months ended October 31, 2015.
Bankruptcy: My Name is Still On My Ex-Spouse’s Home
To get your name off of the mortgage, your ex-spouse will have to qualify for the mortgage, on his or her own name, when the mortgage comes up for renewal. Whether or not they qualify is up to their financial institution.