Debt Settlement in Canada Articles - Archive: November 2009

I entered into a voluntary repossession agreement with the leasing company of my vehicle. I was told by the leasor that the vehicle would be accepted back, it would be sold, and then I could be liable for any loss. Is this true? In BC the law is sieze or sue is it not? If [...]

I seen a similar question to mine but have something to add. I recently had my jeep removed because they decided to seize not sue I was a few payments behind and the interest and payments were very high. Now I just received a letter saying I might have to pay a disposition or may [...]

Can cra keep taking my income tax? It has been 11 years since this debt and cmhc has never contacted me, only a credit agency[ CBCL] Has the SOL not run out on this several times over? Thanks Posted from: Ontario

IN 2003 I FILED FOR BANKRUPTCY WITH A TRUSTEE, IT`S NOW OVER 6 YEARS (2009) I HAVE NOT BEEN DISCHARGED FROM BANKRUPTCY. IN 2004 I HIRED A LAWYER TO DEAL WITH THE TRUSTEE TO HANDLE THE COURT PROCEEDINGS ETC. BUT THE LAWYER COULD NOT DEAL WITH THE TRUSTEE AS THE TRUSTEE WOULD NOT CORRESPOND TO [...]

I have some credit card debt around 5000. I have not paid any payments for about 6 years. how does it reflect on my credit and what should I do in this case if it is still on my credit report. Thanks. Posted from: Ontario

are you charged interest when your wages are being garnished? Posted from: Manitoba

I haven`t paid my credit cards in the last 5 years. I know I owe $15,000 to $20,000. I stopped paying because I wasn`t working and when I did, I wasn`t making enough to pay back. I have a good job now and I`m ready to pay back and fix my credit. What should my [...]

I filed a CP in Ontario a few weeks ago. If it`s rejected, can I apply for a Debt Settlement program? I was never told of this by my credit counsellor. I owe approximately $35,000 in loans/cards. Also, where would I go to do this? Posted from: Ontario

That is hired to do the debt settlement charge a fee during the `initial phase`? And how is your credit affected during this phase? as well can the institutions still carnish your wages if the feel it necessary? Posted from: Ontario

I have credit card and line of credit debt totaling $40000. I have a job. I heard different things about debt settlements is it like consumer proposal affect your credit rating R7 or debt settlement company pay on my behalf to creditors after settlement and than I pay debt settlement company over 36 months? Or [...]