I have some old debts – how do I deal with this situation?
June 23rd, 2014 by Questions
I have 5 debts all over 3 years old including one government debt over 17 years old incurred through overpayment in another province. I am gainfully employed but I am a sole support mother trying to get out of old debts so I can get on with my life. How do I deal with this situation. I have not addressed my debt situation.
Posted from: Ontario
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June 23, 2014 at 8:02 am, Doug Stuive, CA | Trustee | CIRP said:
It is difficult to know the best way to deal with your debt situation without some more information about the amount of the debt, your income level and your monthly expenses. Depending on whether or not the debt is being actively collected your creditors may not be in a position to take legal action any longer, but they can still pursue collections through mail and telephone. The debts may also still be showing on your credit bureau report.
I would recommend coming in to meet with a trustee for a free consultation. They will look at your budget and determine what you can afford to pay after meeting your monthly household expenses. From there it will be clear what options are available to you and they can take the time to explain the process and requirements of each option. Debt issues never really go away so a consultation is a good first step.