Question: If you are a single parent trying to make ends meet but not able to pay your debts, what happens? Are you taken to credit bureau and have 7 years for it to be placed and or are you taken to court and have a judgment placed against you?
Answer: If you get behind in your debt payments, the creditors will start by telephoning you and sending you letters. If you don't respond, it is possible that they will then take you to court. If they do, they may get a judgment against you, and then they have the ability to garnishee your wages.
Obviously the best answer is to attempt to repay your debts on your own, or make payment arrangements with your creditors. If you can't do that, it may be necessary to consider a consumer proposal or personal bankruptcy. A licensed trustee in Ontario will provide you with a free consultation so that you can review your options and make your decision.
Answer: If you get behind in your debt payments, the creditors will start by telephoning you and sending you letters. If you don't respond, it is possible that they will then take you to court. If they do, they may get a judgment against you, and then they have the ability to garnishee your wages.
Obviously the best answer is to attempt to repay your debts on your own, or make payment arrangements with your creditors. If you can't do that, it may be necessary to consider a consumer proposal or personal bankruptcy. A licensed trustee in Ontario will provide you with a free consultation so that you can review your options and make your decision.
Labels: bankruptcy Ontario, bankruptcy trustee, consumer proposal
posted by Questions @ 2:50 PM
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