Bankruptcy Ontario Canada
What Collection agency can actually do? Bankruptcy?
I live in Ontario,Canada and have fallen on financial difficulties and one of my debts has sent me to collections,i get numerous calls a day and have been threatened to be taken to court i am at the point where i am ready to claim bankruptcy because i simply cannot afford the payments they demand..i want to know if anyone has dealt with a collection agency before and what they can actually do at this point as well as anyone who has been through bankruptcy to give me some advice. I have a small daughter at home an am currently 2 months pregnant and cannot deal with the stress any more. I have been to credit counselling and they said my best option is bankruptcy but i want to pay the debts back but need to get on my feet first. Any advice is greatly appreciated..thanks
A great resource for you would be to go to www.helpwithcollectioncalls.ca There is a how to guide at that website about how to deal with collection agencies in Canada. The guy is based in Ontario as well, so the info should be fairly relevant to your situation.
I also have a friend that works for a collection agency and most of the time they will tell you whatever it takes to get you to pay and half the time it’s BS. In order for them to take you to court it typically has to be in collections for at least a year or so. And if you feel that they are harrassing you, then you can take legal actions against them to make them stop calling. If they are calling more than 2-3 times a week (other than if you ask them to call back) that can be considered harrassment.
One other step you may be able to talk is if you have group benefits through your employers and have what’s called an Employee Assistance Program (EAP). What this is is an 800 number that people can call for all kinds of problems from work stress, to medical problems to financial problems. These people are paid on commission like debt collectors or credit counsellers or bankers, so they will give you the straight up goods on what you need to do and what your options are.
Finally, most ‘credit couselling’ places mainline of business is bankruptcy, so they will tell you bankruptcy is the way to go so they get paid. I would definately get a second opinion from an independent party. Also, keep in mind that those people that work for the collection agencies get paid on commission and are likely going through the same financial difficulties that most are going through right now. They get paid a commission to collect the debt, not to care about your well being so they will push and push and push until they get their money. They will demand huge payments becuase they get paid commission and the more you pay, the more they get paid in bonuses. You can pay as much as you can afford…they can’t deny payment. Don’t let them push you around and stress you out, becuase that won’t make your situation any better. You need to do what is best for you and your children, not some douchebag making $6/hour sitting in a crummy cubical harrassing people all day.
Keep your head up! You’ll make it through this!
Wat Lao Cambridge Ontario Canada
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