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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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question about credit card in collections

I was just woindering , my ex has 3 credit cards, that I am pretty sure are all in collections…can he still get a loan debt consolidation to pay these off? or is it to late?

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One Response to “question about credit card in collections”

A licensed trustee said...

It is probably too late to get a loan from a major Canadian bank. That means he may be looking at second and third ier lenders (ie finance companies). If it is at possible, he should try and bring the accounts current as if he ends up with a finance company the interest rates will be as high (or higher) than the credt cards.

He might want to consider credit counselling or even a proposal to creditors. Use the links on this page to find a professional in your area to discuss your spouse’s options.