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

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Bankruptcy and Sold Debt

I had this weird conversation with a creditor a few days back. I was telling him that I plan to declare bankruptcy and move out of the country (if he wasn`t prepared to negotiate the debt). He told me that the debt will follow me wherever I go because he will simply sell the debt to a collection agency in the country I go to. Is that possible or is he bluffing?

Posted from: Ontario

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One Response to “Bankruptcy and Sold Debt”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you declare bankruptcy and live up to your obligations then you will receive a discharge. This will legally clear you of the debt (with a few exceptions: see debts that are not released by bankruptcy) and regardless where you go, no one has the right to collect on that debt.