If you would like some more information on how to handle your debt then read the following booklet published by Industry Canada called Dealing with Debt – A Consumer’s Guide. The information is meant for individuals only and does not apply to corporations. Here is a section on how to recognize the danger signals… Read More
Formal Debt Settlements through a Bankruptcy Trustee in Ontario
July 21, 2011 – 3:14 pm
Usually a debtor seeks out a licensed Administrator when they have exhausted all other avenues of dealing with their debt load.
If you have tried at your local bank to consolidate your debt into one loan and have been denied. If you have attempted to approach your friends or family to obtain a short term loan to help you get through and have been disappointed. If you have tried to discuss with your creditors a lower interest rate or a suitable payment plan to retire your debt and have been rejected or misunderstood, then you should contact an Administrator who can help you with a formal debt settlement with your creditors. Read More
How do I stop a wage garnishee in Ontario?
May 17, 2011 – 1:44 pm
Wages can be garnisheed when a creditor has successfully filed a claim against you in the Superior Court of Justice and obtained Judgment against you. There are certain creditors such as Canada Revenue Agency that have the power to garnishee income by legislation. Read More
How to deal with collection agencies
May 17, 2011 – 1:41 pm
What is a Collection Agency?
A collection agency is a business that pursues payment of debts owed by individuals or businesses. Collection agencies are often paid a commission to collect a debt on behalf of a creditor. It is not unusual for a collection agency to purchase an outstanding account from a creditor and then pursue the debtor (you) for payment. Read More
How do I get a free copy of my credit report in Ontario?
April 18, 2011 – 9:52 pm
Credit bureaus sell information, but by law you are entitled to obtain your own credit report for free. There are two main Credit Bureaus in Canada. They are as follows: Read More