Debts
I have a question regarding the way the debts are treated – what happens if someone who has some unsecured debts in Canada as well as the mortgage just leaves the country for a longer period of time (let`s say for at least 10 years from now on) – what will happened to his debts ? Is it possible to be followed abroad for his canadian debts or is it possible that some creditors to force a bankruptcy here in Canada while he`s abroad ?
Thank you
Posted from: Quebec
If you simply left the country your creditors would still have the ability to collect from you while you are out of the country. Now obviously this would be more costly and whether or not they would go to all the trouble and cost would largely depend on the amount of the debt you have.
However, while it is technically possible for your creditors to force a bankruptcy, in a personal situation like this that is the last thing they would want to do. They would be more likely to sue you, register a judgment and then wait until you return to the country. If an when you return then they would intensify their collection attempts.