5 Things You Should Know When Talking to Collectors
Debt collectors are very cunning people and if you do not have the correct set of knowledge when dealing with them this can literally unleash a world of stress. What we all need to know is that when dealing with a debt collector we have been granted a number of rights.
How do Loan Collection Departments Work?
In any case, you have missed making your loan installments, the following process is followed by the loan collecting companies in Canada. Although the regulations vary with the province you are located at, the general process followed is explained below. Continue reading!
How to Talk to Collectors?
When you have debts that are overdue, collectors will chase you all day long. They are persistent but you cannot afford to pay the debts. This situation is quite stressful. Even if you are working on something to overcome the debts, this constant stress will disrupt your plans.
How Bankruptcy Will Affect My Life?
When you see your debts mounting and there is no way to get rid of them, bankruptcy may seem like the only option. However, it is important to understand how this will affect your life. With that knowledge in hand, you may consider another option and will be prepared better to face the consequences if you do go through with bankruptcy.
6 Tips to Avoid Bankruptcy
One of the worst financial situations you can have in life is bankruptcy. For many, it may be the only option left but it totally ruins the credit score. Of course, there are methods to improve the credit afterward but it means building it from scratch again.
How to Repair Your Credit Score After Bankruptcy
There are two major things you need to understand after bankruptcy. Firstly, you need to become responsible for your money. Secondly, you should know about methods to improve the credit score. Remember that without financial discipline in life, your credit score will always be at risk of becoming poor again.
How to Get Out of Bankruptcy
Filing a bankruptcy definitely gets you a fresh financial start. However, this is not the time to relax over the fact that most of your debts have been cleared. In fact, you should use it to ensure that you can avoid future debt problems.
Top 5 Things You Need to Know About Bankruptcy
Bankruptcy is an unfortunate event nobody wants to fall into. However, learning about bankruptcy is essential. The right knowledge may be very helpful if you ever find yourself in this unwanted situation. In the following article, we discuss 5 things that must be understood about bankruptcy.
What is Bankruptcy?
Bankruptcy allows a person to get a fresh start when he/she is burdened hopelessly by debt. The idea in Canada that powers personal bankruptcy is that a person surrenders everything they own to a Licensed Insolvency Trustee. In return, all of the person’s debts are eliminated.