Bankruptcy?

T

TheAllAchiever

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Hey guys, just got finished my CFSC and am writing up my PAL to send off to the CFP in miramichi. I can't find anything online about this, I declared bankruptcy and was released from it in November 2025, around then I also lost my job but will have another by next month. I am on EI now. I know because of this I have to check off the box next to bankruptcy/job loss with "yes" but I couldn't find anything about how that will go with my references. I dont really want my references knowing I declared bankruptcy. They know I lost my job and will have another one but will the CFO call my references and ask them questions about my bankruptcy?

Thanks in advance!
 
45C said:
What’s the difference
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A consumer proposal lets you repay a portion of your debt over time (up to 5 years) while keeping assets like your home/car, with less credit impact than bankruptcy; bankruptcy eliminates most debt but requires surrendering non-essential assets and has a bigger credit hit, though it's faster (9-21 months) and has no debt limit (unlike a proposal's $250k limit).
 
I was asked to be a reference a few months tha back, and I seem to remember I could see most of the applicants application, I am not sure about the bankruptcy question though. Better to have the conversation early with them.
 
1ABNDT said:
A consumer proposal lets you repay a portion of your debt over time (up to 5 years) while keeping assets like your home/car, with less credit impact than bankruptcy; bankruptcy eliminates most debt but requires surrendering non-essential assets and has a bigger credit hit, though it's faster (9-21 months) and has no debt limit (unlike a proposal's $250k limit).
Click to expand...
An acquaintance did a consumer proposal, but not all are created equal.

They shopped their situation around to a couple of different firms and the difference was astonishing.

All in all they ended up paying back 12% of their masssive overall debt over 48 months with little impact to their credit score.
 
This extreme overreach by government agencies.
Would you also earnestly answer when they want to know how often per week you seek carnal knowledge of your g-a-y lover?
😞
 
Update for everyone, no reference checks and I wasn't called. PAL paper form received February 2nd, and says issued as of March 4th.
 
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