This is getting very interesting; this isn't the first time I have heard someone say the trustee wasn’t very helpful or that they didn’t make them aware of all aspects of the program.

A lot of other people have told us the same thing lately. I know bankruptcies are up about 1/3 this year but its starting to sound like these trustees in bankruptcy are operating a churn and burn operation with a "lets grow some hay while the sun shines mentality".

I am real sorry Mark but I am not a Trustee, so I can't speak to how their program works exactly and what your options are. You really need to ask them.

Our debt relief option is similar to a consumer proposal but called debt settlement, and while it isn’t for everyone, people that successfully complete our program get out of debt in 3 years for less then they owe today, and that includes our fee. Unlike some of these trustees, we also fully disclose everything about what you are getting into so there are no surprises.

I did write this article a while back on what I do know, so it may shed some light on why you seem to be feeling like they aren't working for you

Filing Bankruptcy in Canada and What You Need to Know

which option would be better for me, when i originally did the proposal, i had no assets, all was unsecured debt. I was unaware that wehn i filled for the proposal i would be treated as if i had gone bankrupt, no loans or credit cards, for the next 4 years, and then it stay on your record for another 3, so total of 7 anyway. From my understanding and reading all the posts is that if i went bankrupt, i would be discharged in 9 months and would be ablel to start over, and a much lower overall cost. I would be able to rebuild my credit much faster. I currently make 2600 after taxes monthly, single no dependats. debt total of about 55K, lease a vehicle, and rent not own.
Any advise ? what would the effect of a bankruptcy be in this case.
I dont want to loose the car, and can continue to make payments on it.
what would be the cost to go bankrupt, and what are the fees associated that i would have to pay the trustee. I find the trustees not to be very helpfull the first time around, basically when i had my intial meeting instead of explaing all the consquences to me, they just suggested proposal right away.....the propsal was for 14K, and paid of 3900 of it, prior to the missed payments.

sounds like im rambling, but i am a little frustrated and want to approach this the best way possible, and with the best knowledge.

It will probably be a few weeks before your creditors start to come after you again.

If bankruptcy is still an option, that’s a better route to go IMO. Consumer proposals and bankruptcy are viewed the same by creditors so if its open to you why not go that route?

Bankruptcy trustees are governed by the bankruptcy insolvency act so there isn’t much wiggle room for you when the government is telling them what to do and when it must be done. Their rules are fixed.

If bankruptcy isn't an option, you could also look at our company and talk to a debt consultant for a debt settlement quote. Our program offers more flexibility and can be more affordable for some people

i havent contacted my trustee about this yet, as far as i know and what i had read is that if you miss three payments the proposal becomes automatically annuald. I wouldnt be able to make a payment till the end of the month, anway, and it seems that bankruptcy would be the only option.

any suggestions?

how long before the creditors start coming after me again . . . . ?? the payments was missed just this past friday.

What options does the Trustee have for you at this point?

They must have some options for you, I know we do when people struggle with payments when they are in our debt settlement program.

Hi,
I have failed my third payment in my consumer proposal, have been in it for 16 months, of a 48 month term. What are my options? and will the creditors come after me right away? My current income after taxes is about 2500 a month, but my expenses ammount to abot 2500. This includes rent, car lease, mainiance, gas, food. I have also amounted some pay day loans in the 5000 mark, during this time. Have not been able to pay them off, settled some of them, but some of the companies have been uwilling to cooperate, and i dont thave the disposable income to do so. Any suggestions. The additional pay day loans were attained after my proposal. Original proposal debt is around 55K.

How can i get out of this hole I'm in, it's been very stressfull, but nothing seems to be working.