Although a question is always asked: “How can I buy a house after a bankruptcy?” Otherwise, you will find here information on debt consolidation in order to combine your debt contract with your housing construction loan. or get bad car credit while respecting your debt agreement. What will happen to my secured debts, such as my car loan and mortgage? Standard mortgage rates are available for borrowers with a large deposit. Contact us to find out more. No, not all creditors need to agree. The majority of the value, i.e. 50.01% of the dollar amount of creditors who choose to vote and have the right to vote, must approve your proposal. If you do not disclose all your debts or you do not indicate that the debt is a common debt, that it is secured, that it is not secured/unsecured, or even if you do not disclose the correct level of your debt, these are just a few reasons that may prompt the creditor to reject your proposal. It is not the same as going bankrupt. A debt contract is an alternative to bankruptcy, but since it falls under Part IX of the Bankruptcy Act, the proposal of a debt contract is considered an act of bankruptcy. An installation fee is levied for the compilation of the Debt Agreement Proposal and the work associated with it. This fee is $2,650 USD. However, the maximum you have to pay in advance is $850.
The balance of $1,800 is paid through the debt agreement and gets the same return as all other creditors….
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