do you have to be in collections

July 15th, 2010 by Questions

Hello,I have been paying my debts for years tried not to get behind leaving pay check to pay check going without everything,I don`t seem to be getting anywhere the bank won`t help the credit cards and the loan have very high interest rates. I went to see about orderly payment of debt and they said I`m paying out more than i taken in . They suggested to talk to a trustee. I guess my queston is do you have to be in collections before going bankrupt?

Posted from: Nova Scotia


One Response to “do you have to be in collections”

, A licensed trustee said:

No you do not. In fact, a large percentage of people that file consumer proposals are current with their payments when they file. It is more likely that you’ll be in collections already if you are thinking about bankruptcy, but that’s simply becuase most people will try everything else before they file.

If an Orderly Payment of Debts won’t work for you then the next step is to speak to a trustee – use the links on this site to find one in your area and good luck sorting things out.

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