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Adult Daughter has a Judgment Removed from her Mother’s Bank Account by Filing a Consumer Proposal

I recently helped an elderly woman in Barrie stop the seizure of her bank account, through the filing of a consumer proposal.

I met with the elderly woman’s daughter, who had Power of Attorney for both property and health issues regarding her mother’s affairs. The daughter had received documents from the bank where her mother had her account, that they were seizing her mother’s bank account for an outstanding credit card debt with them. The bank account included pension funds deposited into the bank account to pay for her mother’s living expenses at the nursing home where she now resides. As you can imagine this was a highly stressful situation for the mother and daughter.
Attempts were made by the daughter to try and negotiate a payment plan with the bank but as a creditor, but the representatives were not willing to accept a reasonable amount.

It was recommended to the daughter that she contact a bankruptcy firm to discuss the options available to her mother. After reviewing her mother’s situation, the daughter and I determined that a consumer proposal was the best option. In the past, the daughter and mother had jointly owned a house, but they had sold it and lived off the proceeds over the years, making minimal payments to the creditors. By now the money had run out so we decided that a consumer proposal was the right thing to do. It would also lift the freeze on the mother’s bank account.

We were able to help the elderly woman with the filing of a consumer proposal and the lifting of the judgment from her bank account.