Comments on: debt settlement http://www.bankruptcy-canada.ca/debt-settlement/2009/11/debt-settlement-4.html Personal Bankruptcy Canada Blog Fri, 12 Mar 2010 17:22:06 +0000 http://wordpress.org/?v=2.2.1 By: Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy http://www.bankruptcy-canada.ca/debt-settlement/2009/11/debt-settlement-4.html#comment-111411 Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy Mon, 09 Nov 2009 13:59:37 +0000 http://www.bankruptcy-canada.ca/debt-settlement/2009/11/debt-settlement-4.html#comment-111411 Usually what happens is that the debt settlment company will take payment from you and then re-distribute it to your unsecured creditors. As for your credit rating, as a general rule you will have the R7 that is listed for 3 yreas from the completion of a debt settlment program. However, the challenge with answering these types of questions is that there are many forms and types of debt settlement and the specific practicies and procedures can vary substantially depending on which type we are looking at. Usually what happens is that the debt settlment company will take payment from you and then re-distribute it to your unsecured creditors.

As for your credit rating, as a general rule you will have the R7 that is listed for 3 yreas from the completion of a debt settlment program.

However, the challenge with answering these types of questions is that there are many forms and types of debt settlement and the specific practicies and procedures can vary substantially depending on which type we are looking at.

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