Debt Settlement in Canada Articles - Archive: 2011

I have informed Citi-Financial that I have entered into a contract with a debt settlement firm, they stated to me they will not deal with that firm and will garnish my wages, can they garnish my wages if I have already informed them that I have entered a debt settlement program or aqre they just [...]

We currently have about $30,000 in credit card debt. We are looking at Debt Settlement (arbritation) I’m wondering how others went about finding a good Debt Arbritrator Company? there are SO many out there and most are based in the US, but claim to now do work in Canada as well. Has anyone been thru [...]

Why is there debt settlement and consumer proposals? Which is better to do? Can we do these options if one of two of us has lost their job? Posted from: Manitoba

If I am currently under bankruptcy, not yet discharged, and I have incurred personal debt to a ‘private’ individual for court proceedings unrelated to the bankruptcy, and the courts award me my court costs in settlement, does this money need to be repaid to the bankruptcy trustee??? Thx Posted from: Ontario

I have about $156,242.77 in credit card debt and included with this is a loan for some home improvements we had done which total $28,138.86 but it is in with the above total. Would I still qualify for a debt settlement? I would have about $2400 each month to contribute. Posted from: Ontario

I have about $286,120.89 in credit card debt which is not from personal spending but rather cash advances we had to put into our company to keep from going bankrupt at the time. I have about $2500.00 coming in each month to deal with this but it is not enough obviously. Do I qualify for [...]

Will CMHC settle with 20% of the owing debt. I have heard this from a few people Posted from: Alberta

im going through a divorce and could possibly end up with 46000 dollars worth of debt. i bring home 2200 a month, this debt doesnt include my car that i have monthly payments on. I’m struggling very much with with all the debt at the end of the month. i am left with approximately 900 [...]

I’m 52, pensioned off (25 years) from a major Cdn Bank. Only income is my small pension. EI exhausted. Former employer (Bank) is main creditor. Bank pension cannot be deposited to other Financial Institution. Account has O/D, at limit. Each month, within minutes of pension deposit, I move funds via EMT to other FI. Once [...]

I have no outstanding debts at present (i.e. all debts settled/paid), but have settled debts that appear on my credit report as ‘derogatory’ (R9). Does such a credit history prevent me from being ‘bondable’? Thank you. Posted from: Ontario