What debts can be included in a consumer proposal?

The following are some common types of debts that can be included in your consumer proposal:

• Credit Card
• CRA Income tax debt
• Student loans
• Line of Credit
• Unsecured Loans
• Payday Loans

The following are common examples of debts that CANNOT be included in your consumer proposal:

• Court fines (such as parking tickets, speeding tickets, etc.)
• Spousal Support
• Child Support

Spousal support and child support are not a dischargeable debt in a consumer proposal The support must be payable from a court order or a signed marital separation agreement that occurred before the date of filing a consumer proposal. This would include all arrears and future payments under the support agreement.

Student loans are not discharged if you haven’t been out of school for 7 years on the date you filed a consumer proposal. If you have been out of school for 7 year when you file a consumer proposal the student loans will be included.

Any court fines, such as parking tickets, speeding tickets, etc. will not be included.

Your debts will be legally cancelled when you receive you certificate of completion of your consumer proposal.

Your Licensed Insolvency Trustee at Risman Zysman will complete an in-depth review of the debts that you owe and explain what happens which each one!