Here in Ontario. They can do wage garnishment, asset seizure and legal judgment. A legal judgment basically just stay on your credit report forever even if you declare bankruptcy. You could consolidate your debt. With debt consolidation, you are basically getting a private loan from a lender or a loan from a bank (you got good credit so bank would be better on interest rate night and day). Get a loan for the amount of the debt, call up who you owe and be like I'm behind on my bills because you got cancer or something morbid like that. If your debt like $8000 (2x$4000). Be like my kids or my uncle gave me $2000 to help take care of my debt. Can we settle. Never take first offer. Ask to speak to a manager be extremely polite but presitant, keep annoying them with a sob story. They will normally settle no problem at a 75/25 and extremely cases 50/50-60/40. It also depends on how old your debt is because you know exodus 21:2 😉. Is your debt in first party collections or 3rd party collections?
If you own assets tho, typically it will show on your credit report so careful on what you say. If you say your homeless and your credit report shows you own a million dollar home. They will call you out.
Thread collapsed
