debit memo issued..

March 12th, 2009 by Questions

I am on Ontario Disability support program and currently have accumulated roughly 10 000 dollars worth of credit card debt. And I am unable to pay back this amount.My bank has already issued a debit memo and withdrew some funds from my account, without providing me notice. Which caused my rent cheque to bounce..What can I do now besides filing bankruptcy? and how much will it cost me to file bankruptcy? Thank you..

Posted from: Ontario


One Response to “debit memo issued..”

, A licensed trustee said:

Start by switching banks – contact ODSP and have them redirect your payment to the new account. If you no longer deal with the old bank they can’t take money from your account… Once you’ve done that consider whether or not you want to speak to a trustee or credit counsellor to try and deal with your debts. You’ve got a couple of options (including doing nothing at all) – in fact if you look back thorugh these postings you’ll find a few that talk about being creditor proof. Read them before you call – you might decide not to do anything.

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