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

"*" indicates required fields

Instagram

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*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.

This field is hidden when viewing the form

Source

How can we help you?

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.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Seniors Financial Problems

I stumbled across documents during a recent visit to my parents (80+) that suggest that they are in a position of significant debt. I found at least four credit card statements for more than $15,000, and recent payment stubs showing the use of one credit card to pay another. Although they own their own home ($200,000) in Ontario they reverse-morgaged the home more than 10 years ago. They have no other finacial assets that I am aware of and I would like to approach them on some alternatives to remove this huge debt load that will only continue to grow. Being seniors and a my father is a Canadian Vetran, they are too proud to seek assistance themselves so I am tryng to identify all available options. Perhaps there are resources for seniors that will provide this information.

Thanks,

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Seniors Financial Problems”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The best place to look would be through a trustee’s office or potentially a local credit counseling office. If looking into credit counseling I suggest beginning with the not-for-profit organizations as they typically don’t have a vested interest.