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

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Debt repayment questions

I’m embarrassed to say that I’m a 22-year-old that has fallen into quite some money problems that I’ve been hiding from my family, and I don’t want to struggle with this anymore. I have a few things in collections right now. One credit card at about 3,000 and probably another $600 for various things. I also have a delinquent account with my bank worth 5,000 which I’m working on since the bank automatically keeps taking money (which has screwed me over because they take way too much, but also helps to pay down my bill.) I don’t know where to start to get my life back on track. I have a full-time job, but probably bring in about 1500 a month, but my expenses eat up a fair amount of that. I don’t know who to talk to, but I don’t want to live this life anymore. Thanks for any advice you may have for me.

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One Response to “Debt repayment questions”

Desmond West-Chow, CIRP, Trustee said...

The best advice I can give you would be to talk to a trustee. When sitting down with a trustee for the first time, they will simply go over your financial situation in detail and discuss your options with you. These meetings should be free-of-charge, confidential and have no obligation. Once you get the information from the trustee you’ll have a better idea of options that may exist for you.