Yearly Archives: 2008

Question: About 6 months ago I was discharged from a bankruptcy and haven’t done anything yet to re-establish my credit. I’ve also moved (renting as usual) and changed jobs (different industry) in the last month, so I have no job or residence stability. My bank won’t offer me any sort… Read more

Question: I owe $70,000 in unsecured credit card and bank debt. I have a good credit rating and I don’t want to go bankrupt but want to eliminate my unsecured debt. I would like to go the Consumer Proposal route. I only have one creditor. My situation is that I… Read more

Question: I paid off a credit card in 2000 after it had been deactivated. A couple of months ago, I started receiving calls from a collection agency about that card. I requested the provide me with information about the account and received nothing. They are now threatening me with small… Read more

Question: I was recently discharged from a bankruptcy in Ontario. All debts that were included were discharged – none of them were opposed. Now I’m starting to get collection companies contacting me to collect on these debts! I don’t want new collection efforts reported on my credit file and I… Read more

Question: I recently closed a business and there was an outstanding amount of $50,000 owed to a bank. We had tried to negotiate a debt settlement payment schedule with them, as we have excellent credit and did not want anything to tarnish this. We had agreed to a payment schedule,… Read more

Question: I have the following unsecured debts in my name and desperately need an answer as I have not missed any payments yet but I will shortly if I don’t get some help fast. My debts include: $30,000 credit card debt$10,000 credit line through Canadian Tire Bank (it was through… Read more

Question: I have a question about Canada student loan forgiveness rules. According to changes to the Bankruptcy & Insolvency Act, a bankrupt person who has been out of school for five or more years may apply to a court to be discharged from their student loans. I am a Canadian… Read more

Question: I am currently paying on my consumer proposal. I kept my car, which is leased, and have been making the payments on my car and on my proposal on time, not missing any payments. The lease on my car is due next spring and I will still have about… Read more

Question: My husband & I own a house jointly. The house is worth $570,000 and the mortgage  is $420,00. While my husband and I each  have $75,000 equity, I owe $69,000 and my husband owes $63,000 in credit card debt. We make a combined income of $80,000.  If we file… Read more

Question: I have a huge $22,000 debt on one credit card.  Since I retired I have been paying the minimum payment, $250 per month.  That only covers the interest. I have another credit card with a smaller debt of about $3,000. I have two pensions, one from work $1,400 per… Read more