Tisha
August 24th, 2011 by Questions
I have been living in Canada for 5 years as a refugee, i have always had a good job and my credit was being built. I had a 5000 line of credit, 500 overdraft and other credit cards. 3 years ago i was asked to leave Canada, leaving an lump some of debts. Befor i left canada i had lost my job but made whatever little payments i could.
What i would like to know is, im returning to canada by next year as a permanent residence, how will this debt affect me? What options do i have to get it cleared from my name?
Posted from: Ontario
One Response to “Tisha”
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August 24, 2011 at 8:35 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
More than likely this debt will affect you when you return. So you will have to look at options to try and resolve things. The options that exist really depend on the type of work you will have and your living costs, but ultimately you could look at things like a consolidation loan, credit counselling, a consumer proposal, or even a bankruptcy. Which option will suit you best is difficult to say without more information, but what you can do is when you return to Canada you can contact a local trustee and they will help you determine that.