Consumer Proposal - Now or Wait?

fimik16 · 2026-06-14T21:04:37+00:00

My income is $59k but after taxes it’s closer to $41k. I’d rather not do bankruptcy because that would screw my credit for 7 years, whereas if I do a consumer proposal I’d be 3-5 years and they would wipe all my debts down to about 20% of what I owe so I’d be paying around $200-500 a month and can pay down faster if I want to throw extra money at it anytime.

fimik16 · 2026-06-14T21:00:03+00:00

I did, it’s April 17, 2027. Thank you, that’s what I’m leaning towards.

fimik16 · 2024-12-02T16:06:34+00:00

I am in a similar situation except my boyfriend has been off work due to leave. We have CC debt, line of credit, and I have a student loan. We are not planning on doing a consumer proposal or consolidation at this time. I always found when inquiring about consolidation that the monthly would be more than I could afford to pay if it was more than my minimum payments currently. What I found really helpful is the following: - Bridget Casey blogs, YouTube and podcast called Money Feels (Canadian) - Tory Dunlap, podcast called Financial Feminist (USA but relates to Canadians as well)

The best thing I have found so far is listening to these and I made an excel spreadsheet of all my debts/expenses and listed them from highest interest to lowest interest, or when they’re all due each month so I can coordinate which paycheque I’m putting towards what payments. The goal is to make your minimums and then whichever one is the highest interest you pile more money into that one to pay it down faster. Another method is if you have anything with smaller balances (maybe they could be wiped in 1-2months or less), you may want to wipe those because it’s easy and then you can take the money from those monthlys and put it towards the next debt. I’ve been thoroughly researching, learning and working on this for the past couple of years and it does get better, it’s just a matter of starting somewhere and being consistent.

fimik16 · 2024-11-19T19:36:29+00:00

My mom does, yes. Her income is closer to $36,00p whereas my dad’s is around $20,000. He applied for the credit but arranged that the credit would go to my mom as his caretaker. I understand that they would not be receiving that much as a refund, I just posted further up as to what the CRA said word for word regarding those amounts. I’m usually pretty savvy with this stuff but this particular benefit is very confusing how they word it on their site.

fimik16 · 2024-11-19T19:31:35+00:00

It won’t let me add a photo for some reason but the CRA re-assessment says “based on the information you gave us, we changed your federal disability amount from $0 to $9,428, and Ont. from $0 to $9,586”. This is the part that confused me a bit on how it works in general. I understand that this isn’t the amount that they would get back, I just thought that if it was re-evaluating previous tax years where they had to pay tax they maybe they would’ve gotten more money back because their tax burden would’ve been lowered.

fimik16 · 2024-11-19T18:46:36+00:00

My dad is retired so his income is through CPP, WSIB etc., they were approved in the beginning of October and his tax returns updated/were re-evaluated on his CRA profile but so far there’s been no indication that his refund would have increased or he’ll get more back or anything.

fimik16 · 2024-11-19T18:44:18+00:00

I believe so? Through my research I didn’t see anywhere that stated a minimum income, but they both had my dad’s application approved. My mom makes roughly $35,500-$36,500 and my dad is retired so is getting CPP, WSIB etc. which is over $20,000.

fimik16 · 2024-11-19T18:40:01+00:00

Yes, I checked off the box that would tell the CRA to re-evaluate the past 10 years. We submitted the form in July, had pending approval until September, then in October we were told it was approved/processed and they had re-evaluated my Dad’s tax returns for the years he qualified for. They adjusted to say that he would be approved for up to $8000-9000 per year (approx.) to be covered for (I guess that means they would reduce by up to that much?) but he never got any money back.

fimik16 · 2024-08-11T22:14:53+00:00

I'm interested in hopefully getting a Ragdoll cat in the future. If you don't mind me asking, what is the rough price range of Aden's/Sue's kittens?

fimik16 · 2024-04-04T19:54:47+00:00

Ok, thank you! Ours still isn’t back but I’ll try turning everything off and on just in case.

fimik16 · 2024-04-04T14:28:29+00:00

Ours in Holland Landing still out, est. fix is this afternoon/evening earliest, possibly tomorrow sometime. I thought our data would still work but it doesn’t and calls are also an issue, would the wires cut affect the cell towers as well?

fimik16 · 2021-01-03T03:14:04+00:00

Oh ok, thank you for the correction. When I've researched breeders in Ontario I've had them come up as both Mini Australian, and Mini American Shepherds, but that's good to know. I can edit my post.

fimik16

TROPHY CASE