Comments on: Learning From My Mistakes http://www.bankruptcy-canada.ca/money-management-and-problems/2009/11/learning-from-my-mistakes.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy http://www.bankruptcy-canada.ca/money-management-and-problems/2009/11/learning-from-my-mistakes.html#comment-111879 Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy Wed, 25 Nov 2009 14:13:29 +0000 http://www.bankruptcy-canada.ca/money-management-and-problems/2009/11/learning-from-my-mistakes.html#comment-111879 The first thing you need to appreciate about your credit rating is it really is only a bulliten board. Just because a comment is made there or not made there really is meaningness in terms of wheter you are technically responsbile for the debt. So if we take the first mark that stipulates "Written off..." this doesn't mean they cannot still collect on that debt or that you are not legally responsible for it. As for the other creditors who are not on the report, there are a varity of things you can consider doing in an effort to resolve these things. The opitons include making payments as requried by the creditors in question, negotitating directly with the creditors to find a reasonable schedule for repayment, a <a HREF="http://www.bankruptcy-canada.ca/debtconsolidation/" rel="nofollow">consolidation loan</A>, <a HREF="http://www.moneyproblems.ca/credit-counselling.htm" rel="nofollow">credit counselling</A>, a <a HREF="http://www.bankruptcy-canada.ca/consumerProposals.htm" rel="nofollow">consumer proposal</A>, or even the filing of a <a HREF="http://www.bankruptcy-canada.ca/whatIsBankruptcy.htm" rel="nofollow">bankruptcy</A>. Obviously the option that is necessary will depend on the severity of a situation and if you need help determining what is the best direction given your situation you may want to conisder contacting a <a HREF="http://www.bankruptcy-canada.ca/emailUs.htm" rel="nofollow">local trustee</A>. The first thing you need to appreciate about your credit rating is it really is only a bulliten board. Just because a comment is made there or not made there really is meaningness in terms of wheter you are technically responsbile for the debt.

So if we take the first mark that stipulates “Written off…” this doesn’t mean they cannot still collect on that debt or that you are not legally responsible for it.

As for the other creditors who are not on the report, there are a varity of things you can consider doing in an effort to resolve these things. The opitons include making payments as requried by the creditors in question, negotitating directly with the creditors to find a reasonable schedule for repayment, a consolidation loan, credit counselling, a consumer proposal, or even the filing of a bankruptcy.

Obviously the option that is necessary will depend on the severity of a situation and if you need help determining what is the best direction given your situation you may want to conisder contacting a local trustee.

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