You learn something new every day...
Well, it IS true. I learned something new today. I learned what a "consumer proposal" is today:
Consumer Proposals are intended to help reduce the number of bankruptcy filings by allowing the consumers who owe less than $75,000 (excluding mortgages on their principal residences), to negotiate with their creditors for the reduction of their debt and/or for an extension of the time for payments of their debts.
aka. it's the last ditch effort to save your hide before you declare bankruptcy. This is a hint that you're not so good at managing your money.
I also have a new question, after applying for credit for a person and getting the response "The customer cannot aquire credit due to an impending consumer proposal" (and wondering "what the crap does that mean", which lead to my research, aquisition of data and final step in the learning process; the discovery of the answer to the question! Learning is FUN!). The question is:
WHY THE HECK ARE YOU SHOPPING FOR A COMPUTER (and applying for MORE credit) IF YOU ARE 1 STEP AWAY FROM BANKRUPTCY?
This is proof that you're not so good at managing your money. The mind of man is an eternal struggle between various battling insanities. Until Next Time,
The Armchair Consumer Proposal
Consumer Proposals are intended to help reduce the number of bankruptcy filings by allowing the consumers who owe less than $75,000 (excluding mortgages on their principal residences), to negotiate with their creditors for the reduction of their debt and/or for an extension of the time for payments of their debts.
aka. it's the last ditch effort to save your hide before you declare bankruptcy. This is a hint that you're not so good at managing your money.
I also have a new question, after applying for credit for a person and getting the response "The customer cannot aquire credit due to an impending consumer proposal" (and wondering "what the crap does that mean", which lead to my research, aquisition of data and final step in the learning process; the discovery of the answer to the question! Learning is FUN!). The question is:
WHY THE HECK ARE YOU SHOPPING FOR A COMPUTER (and applying for MORE credit) IF YOU ARE 1 STEP AWAY FROM BANKRUPTCY?
This is proof that you're not so good at managing your money. The mind of man is an eternal struggle between various battling insanities. Until Next Time,
The Armchair Consumer Proposal
posted by The Armchair Geek at
10:52 AM
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