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Posts from the 'Debt Collection' category

Consumer Proposal Rejections and RBC

2014-07-21 21:27:27

Generally a consumer proposal is accepted by creditors because it makes good financial sense. If you can show that your creditors will receive substantially more through a proposal than they would if you filed for bankruptcy then your proposal should get approval. Though it will be over a longer time period the creditors will be able to recoup more of their losses so they tend to look upon consumer proposals favourably.   However one of the biggest banks in Canada does not seem to fall in line with this logic. Royal Bank of Canada (RBC) routinely rejects proposals that all other...[more]