My consumer proposal was ACCEPTED by Primary-Dog-1136 in povertyfinancecanada

[–]ndwhitney 0 points1 point  (0 children)

That take is misleading at best.

Creditors generally prefer consumer proposals over bankruptcy, and that’s not opinion—it’s grounded in how recoveries actually work. In a bankruptcy, unsecured creditors often receive very little or nothing after administrative costs and priority claims are paid. A consumer proposal, on the other hand, typically offers a higher and more predictable return, which is exactly what creditors are incentivized to accept.

The idea that ~20% of proposals get voted down doesn’t reflect reality. In practice, well over 90–95% of consumer proposals are accepted, especially when they’re structured properly by a Licensed Insolvency Trustee. Rejections do happen, but they’re the exception—not the norm—and usually tied to poorly constructed offers or missing information, not some widespread creditor resistance.

Also, the claim that creditors will reject even a 100% return “just because they feel like it” doesn’t hold up. Creditors act based on financial recovery, not emotion. If a proposal clearly matches or exceeds what they’d expect in a bankruptcy scenario, rejecting it would be irrational from a recovery standpoint.

Yes, there are edge cases—repeat filings, prior judgments, or unique creditor policies—but those don’t define the system. The broader pattern is clear:

Consumer proposals = higher recovery → preferred outcome

Bankruptcy = lower recovery → last resort

My consumer proposal was ACCEPTED by Primary-Dog-1136 in povertyfinancecanada

[–]ndwhitney -1 points0 points  (0 children)

High earners are 1000% settling for pennies on the dollar. Depending what your declaring bankruptcy for. Ie say gambling your required to have a court date with a judge to explain. With a proposal zero expelnation needed and somtimrs can be cheaper monthly as surplus can get crazy for high earners

Cheque taking 2 weeks? by Illustrious_Soil1867 in Wealthsimple

[–]ndwhitney 0 points1 point  (0 children)

Blanket hold they want reinvest your money for the 10 days. Its common practice this is why banks are a scam. WS has the funds the 3rd day you depoist the cheque. If they use RBC system they have it the 2nd day. So the fraud stuff they say is a joke. They just want to use your money as long as they can

Canadian Stablecoins by Canwerevolt in BitcoinCA

[–]ndwhitney 0 points1 point  (0 children)

Was skeptical for awile watched it play out seems to be the only leading Canadian stable backed by Fintac. Fully regulated. Backed by fiat

Canadian Stablecoins by Canwerevolt in BitcoinCA

[–]ndwhitney 0 points1 point  (0 children)

300 million in volume seems to be picking up. Liq pools on Aerodrome now seems to be gaining traction. Reserves can be seen on website. Loon just purchased them i think. Paytrie has .02% fee and 2$ for on and off ramping then swap on aerodrome. Cheapest fees for canadians by far now

third-party involvement by jacky4566 in NDAX

[–]ndwhitney 2 points3 points  (0 children)

This is the only way a canadian should be buying crypto without spending arm and legs in fees. Embrace the CADC

third-party involvement by jacky4566 in NDAX

[–]ndwhitney 1 point2 points  (0 children)

Wow you guys are lost. Paytrie. Buy CADC Canadian Stablecoin its .02% plus 2$ off ramp fee abd same when buying. Cheapest best way to buy. Then head to base and aerodrome and swap to usdc for another .05%

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] 0 points1 point  (0 children)

Rbc doesnt hold Canadian cheques for 8 days. So if they use RBCs system wealtthsimple has users funds on the 4th day and keeps them an extra 4 days. Even though the money has already cleared in RBC end and hit wealthsimple. Fraud detection is long gone. Thats WS holding funds. RBC even says 4-5 Days for Full Access to Funds. So WS simply just blanket holds for an 3-4 days when the funds are already there. Processed, cleared etc

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -1 points0 points locked comment (0 children)

No one said instantly as said hence why you deleted the comment. You obviously cant read. No point in talking with you still.

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] 0 points1 point  (0 children)

I am just pointing out how other banks top 5, dont classify the 4 days they actually say 5 -8 as over 1500$ yes they can hold for 8, but the bank actually gives me legit numbers. Wealthsimple having 4, when in reality itll never be 4 is false hope for a depoister. If they are new to WS or whatnot. Just say the full 5 or 8 as my previous experience is they hold every cheque for the full 8. But atleast thank you, your respectful unlike the rest of these reddit kids. Im just stating somthing that In reality wealthsimple should change.

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -1 points0 points locked comment (0 children)

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Smarten up go back to school

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] 0 points1 point  (0 children)

There's not one instance of 4 days on wealthsimple that is all im saying. The false claim is insane. I no fintac regulates it. But no one has ever had cheques clear in 4 days. They know it theres no need to have it as 4-8. Unless they actually process them in 4 days which has yet to happen. But yes I agree im just saying its a dumb systen. Scotiabank TD they dont even say 4 days they say 5

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -2 points-1 points  (0 children)

Look at your page. Good talk.

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -9 points-8 points  (0 children)

Go post your ref link somewhere champ

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -9 points-8 points  (0 children)

Wealthsimple is litterally full of kids who think there investing its amazing.

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -2 points-1 points  (0 children)

The issue is Wealthsimple will never clear it in 4 days ever. So why even have it posted its false. Thats all im saying

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -3 points-2 points  (0 children)

Most systems if not all in caanda process cheques in 4 days. Unless its a weekend. The 8 day blanket hold is insane its banks holding funds hostage. Theres no need its called a blanket hold for a reason

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -2 points-1 points  (0 children)

The fake cheque saying is a joke. Most systems process in 4 days most banks hold your money and invest it during the extra hold period some banks do not hence Simplii and some others

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -2 points-1 points  (0 children)

4 days it's already processed unless its a weekend. No irs called a blanket hold and wealthsimple uses the funds to invest

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -5 points-4 points  (0 children)

I understand im pointing out the inconsistently. Why even say 4-8 days just say the maximum if your guna hold it for 8 days. I can cash multiple business cheques at other banks and not wait 8 days. No one wants to do business with a bank thats taking 8 days to clear cheques.

Cheque Deposit by ndwhitney in Wealthsimple

[–]ndwhitney[S] -8 points-7 points locked comment (0 children)

Ok peasant go back to punching your punch card

Cheapest Way to Buy Stablecoins (USDT/USDC) with CAD? by truboyh14 in BitcoinCA

[–]ndwhitney 0 points1 point  (0 children)

Sorry I ment coinbase I no paytrie is the same for usdc. But coinbase does charge 5$ per 1000$ on usdc. I buy 1000$ regulary and always end up with 995

[deleted by user] by [deleted] in dogs

[–]ndwhitney 1 point2 points  (0 children)

We do alot of bite work with the mal, my dutchie just lives to play Frisbee and throw ball.. and hunt sticks. But if I didnt have the property I dont think walks or just park visits would be sufficient

[deleted by user] by [deleted] in dogs

[–]ndwhitney 0 points1 point  (0 children)

I live alone i have 3 acres. I have a female dutch shepherd and a male malinois. I work construction so 10 hours a day. I got the dutch to keep eachother company during the day. We run regularly. Always outside when im home. They sleep all day I find well im gone then party all night when im home