Recent Posts

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Consumer Proposals / Re: Is a mortgage possible during CP
« Last post by Jennykk on October 20, 2017, 08:59:14 PM »
The new regulations make it more difficult to qualify for a mortgage. :(

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Consumer Proposals / Re: Is a mortgage possible during CP
« Last post by undersc0re on October 20, 2017, 08:36:12 PM »
I did not get pre approval for mortgage, due to many restrictions on mobile home mortgages It is a no go. I did not know getting a mortgage on an older mobile was so complicated, they want cmhc no matter how much you put down, and a few other details.
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Consumer Proposals / Re: Secured credit card and proposal
« Last post by LT on October 17, 2017, 07:58:37 PM »
Unless they were a part of your CP, try Capital One. You are pretty much guaranteed that they will give you a secured credit card. They is no downside for them, they have your deposit.  I got a secured CC from Capital One for $300 (I could have increased my deposit, but didn't).  After about 6 months, they increased my limit to $2300, 6 months after that, they returned my $300 deposit and kept my limit at $2300.  All of this with my credit score in the low 500's.
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Consumer Proposals / Re: Secured credit card and proposal
« Last post by Wetcoaster on October 17, 2017, 07:46:44 PM »
Secured card should be no problem to get.  Keep in mind you are putting down the deposit.  I have a People's Trust secured card.  If I keep it for 5 years I get the deposit back which was put into a GIC.

Depends who is on your CP.

 Capital One is good but they were on our CP.
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Consumer Proposals / Secured credit card and with a current CP
« Last post by Trae on October 17, 2017, 11:59:00 AM »
Hello,

I'm currently 10mths into my CP......I tried to get a Honda with a very strong co-signer, however I was declined. Folks are telling me to apply for a secured CC, is it too soon to do this? if not , which one do I have a better chance of getting. Also, seeing I was just denied for the car, should I wait a few months before applying for the secured card? if so , how long should I wait.

Thank you

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During Bankruptcy / Re: Surplus Income AFTER 7th month average is calculated
« Last post by RMac on October 15, 2017, 05:34:45 PM »
Update:

Spoke to my trustee about this and he has informed me that as long as our average surplus is under the guideline when its calculated at the end of this month, the last two months of our bankruptcy will not matter. Therefore, I can earn as much as I can without it affecting the length of our bankruptcy. Woot!
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Consumer Proposals / Re: Is a mortgage possible during CP
« Last post by pchouinard187 on October 13, 2017, 11:25:47 AM »
I can't say anything about foreclosure, but during a CP you can speak to a Mortgage Broker. I had briefly looked into getting a mortgage after the two year mark of my CP and basically my Broker looked into a "bad credit" mortgage but the conditions would be having to put at least 20% down and expecting a higher interest rate and the mortgage would likely be provided through a private investor.  Ultimately I decided against it.   
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During Bankruptcy / Surplus Income AFTER 7th month average is calculated
« Last post by RMac on October 11, 2017, 05:44:44 PM »
I'm wondering if anyone has experienced this or has any comments on it...

Our average surplus income is going to be calculated at the end of this month (7th month) and will be under the threshold which should have us as a 9 month bankruptcy.
What I'm wondering is, if I happen to make a large enough amount of money during the last two months of our bankruptcy, will this be calculated by our trustee and then impact our overall surplus income average (thus putting us into a 21 month scenario)? Or, is the average calculated at month 7 and not really looked at after that?

Any help would be appreciated.
Thanks
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Consumer Proposals / Reviews for DRC
« Last post by Kay on October 11, 2017, 01:57:50 AM »
Hello
Has anyone here filed CP through DRC? Please I need reviews about it. That's the only organisation which tells me that I can file CP while being out of Canada.
Moreover, please also let me know that does judgement proof mean that we can not file CP? Does it mean that bankruptcy is the only option?
Please help ...I have to make a decision asap
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Consumer Proposals / Re: Difference between insolvency trustee and consultant
« Last post by Kay on October 07, 2017, 09:57:49 PM »
Are you talking about a debt management consultant?

Not sure.... one of the personnel replied me via email and in the end her designationnwas written as insolvency consultant ....
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