FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Unsecured Creditor

I have included a medical loan in my consumer proposal who is UNSECURED.

Within my contract with this company, it states that they cannot be involved in any proposal or bankruptcy but I was informed that the Bankruptcy legislation takes precedence over it.

Is that true?

Can they legally pursue me for all $ owing?

Posted from: Saskatchewan

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One Response to “Unsecured Creditor”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The information you have been given is correct. You cannot contract out of bankruptcy or consumer proposal proceedings. So the presence of this term in the contract is essentially meaningless. The advice you have been given is correct.