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

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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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Credit Record

My parents have an outstanding bill that they have been unable to pay it was around $2000. Since they are unable to pay it the interest keeps rising at 29%. They are both seniors with very bad health and have creditors calling them all the time at their home, how long will this remain on their credit record, or can it be written off due to their bad health (my father has Althizimers). They cannot pay this debt due to other expenses such as the drugs they both require.

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One Response to “Credit Record”

A licensed trustee said...

The debt may remain on your parents’ credit report as long the people that they owe want to keep it there. You may want to try communicating with the creditor directly yourself – explain your parent’s situation and then make an offer to settle the debt. You’ll have to offer to pay something, but you might be surprised at what they will agree to accept in order to close the account.