Money Management and Problems Articles - Archive: 2007 Page 2

Canadian citizen, living in the U.S., has several credit card and bank debt in Canada. If he/she stop making the the minimum payment for those debts, what will be the consequences? Can the creditor garnish wages in the U.S. if he/she works in the U.S. Please advice

Are there rules laid out for creditors that they must follow when attempting to collect debts? Are they allowed to make repeated phone calls to one\’s place of business? Thanks.

I am considering filing a consumer proposal. I am unemployed, but my husband is willing to enter into a third party agreement to pay the proposal. My concern is this, if the proposal is not accepted, am I automatically forced into bankruptcy?…or can I just continue to not answer the phone?

I have stopped using all credit and making payments for 4 months – I have lost a 6 figure job – as well – CRA has aduited me for years 04/05 – The audit took place May 3/07 – They have all my doc\’s and I have heard nothing from them – currently I owe [...]

Hi,I wanted to know what happens when I withdraw cash advances from my Credit Card and use the Cash to feed my gambling addicton. I have withdrawn over 50,000 during the past 6 months and have no way of paying the money back. I lost it all at the Casino. I plan to move to [...]

Hi, my wife and I have $90,000 in dept; most of it on credit cards. She has a stable income of $2200/month, but my self-employment income during the last few months has reduced to $2000. What proof of income will I be required to show – my last year’s statement from Revenue Canada or just [...]

Hello, Please clarify what measures credit card companies can take when a holder is behind in payments. Is it true that if you don\’t pay your bills after a few months, the credit card company can literally attach itself to any of your bank accounts and take money out of the accounts? Or does this [...]

To whom it may concern, Succinctly, what is the rule for a debtor in Ontario vis-a-vis 1) creditors and 2) collection agencies calling at work? In other words, it is my understanding that a debtor in Ontario can be called at work by the original creditor and that there is nothing one can do to [...]

Hi, I am currently in bankruptcy. I owed 30,000 on a credit card to a creditor (Scotia Bank). When I applied for this card I alone signed the paperwork but requested a supplementary card for my wife. She has never signed any paperwork nor had she ever activated the card. Scotiabank never came after her [...]

I owe student loans as well as a credit card debt that I know of. I was bringing in a very low income began missing payments. That was in 2002 after so long and many collection letters from more than one co. I got overwhelmed. About a year ago I began repaying on two of [...]