Tag Archives: collection agency calls

What Happens To Debt In A Consumer Proposal?

 09 Feb 2018

A common question that trustees receive is, “what happens to debts after filing a bankruptcy or consumer proposal?” The legal status of the debt is very simple in a bankruptcy, however, slightly more complicated during a consumer proposal because of its length. When filing a consumer proposal, you are effectively making an…

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What To Do When You Receive a Collection Call

 06 Feb 2017
when-creditors-call

Collection calls start when a debt is not being paid. It may be a first missed payment, or a forgotten debt that has now been passed off to a third party collector. Regardless of why you’re getting collection calls, it’s time to stop and take action. Understand the impact of collection…

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5 Facts About Wage Garnishment

 19 May 2014
stop wage garnishment in Canada

Creditors can garnish your wages if you have stopped making payments towards your debt. In most cases they must obtain a wage garnishment order from the court and depending on the province can garnish up to 50% of your wages. If you are facing a a garnishee, read our tip…

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Dealing With Creditors After Your Bankruptcy Is Finished

 19 Feb 2014
dealing with creditors after bankruptcy

There are many periods during which you, and your trustee, will need to talk to your creditors about your bankruptcy. Before filing, you may be receiving collection calls and need to take advantage of the Stay of Proceedings offered by filing bankruptcy. Once you have filed bankruptcy or a consumer…

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Can Collection Agencies Call My Work or Employer?

 15 Jan 2014
collection calls to employer

Yes, if you owe money, a collection agent is permitted to call your work, or call your employer. Collection agencies are provincially regulated, so the rules are slightly different in each province in Canada.  For example, you can read the Collection Agencies Act of Ontario here. However the legislation is…

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5 Personal Bankruptcy Warning Signs

 18 Dec 2013
Warning signs bankruptcy

It may seem easier to juggle payments around each month, hoping your financial situation improves so you can get out from under the burden of dealing with debt payments. Unfortunately, things tend to accumulate and eventually this can lead to bankruptcy. So, here are the top 5 personal bankruptcy warning…

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Being Sued or Threatened Over A Debt? Should You Consider Bankruptcy?

 16 Dec 2013
being sued and bankruptcy

Suing you is the final “threat” that a collection company makes when they are trying to pressure someone to make payments towards an overdue debt.  In reality, very few people are ever sued, but the threat certainly gets your attention. Before discussing how filing for bankruptcy or a consumer proposal…

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Why Get A Debt Evaluation From A Bankruptcy Trustee?

 04 Dec 2013
debt evaluation experts | bankruptcy trustee

The idea for this article was taken from an anonymous e-mail someone sent to one of the public chats that I write responses on. My first reaction, was to compare a debt evaluation from a bankruptcy trustee to a visit to the dentist’s office when you have a sore tooth….

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Severe Debt Is A Financial Disability. Find a Good Debt Doctor.

 30 Oct 2013
debt doctor bankruptcy

Obviously debt is not a medical condition, but as a bankruptcy trustee I can say from experience that severe debt can be a financial disability, with significant negative consequences.  If you are sick you see a doctor.  If you have excessive debt, you need to see a debt doctor, such…

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Declaring Bankruptcy In Canada – A Last Resort

 25 Sep 2013
bankruptcy is last resort

As a bankruptcy trustee, I follow one simple philosophy that I discuss with every person I meet who is in financial trouble: Declaring bankruptcy in Canada is a last resort. How true is this? So much so that only 1 in 5 people who contact our firm for help end…

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