Empower Yourself with Knowledge for a Debt-Free Future
In the complex world of debt, questions abound. We understand that navigating the unknown can be difficult; we’re here to guide you through it. Let’s dive into the most common debt questions, providing answers and empowering insights to shape your financial outcome.
1. Can a US creditor garnish my Canadian wages?
Answer: Yes, it’s possible, but the process is complex and depends on various factors. Seek professional advice to understand your specific situation and potential wage garnishment risks.
2. What should I do if a debt collector contacts me about a debt that isn’t mine?
Answer: Stand your ground. Clearly communicate that the debt isn’t yours. Request proof from the collector and be aware of your rights. If harassment continues, report them to your province’s collection practices authority.
3. Am I responsible for their debts when my parents pass away?
Answer: Generally, no. Debts are typically settled from the deceased’s estate. Seek legal advice to understand the complexities, especially if you co-sign debts or co-own assets.
4. Am I responsible for my spouse’s credit card debts?
Answer: No. Not unless you’re a co-signer. Legal advice is recommended, especially with evolving family law considerations.Laws are constantly changing, so be careful.
5. If my spouse passes away, do I have to sell our home to pay off their credit cards?
Answer: No, if the home is in Joint Tenancy and the passing of 30 days, it should automatically pass to you, the survivor. Consult a lawyer for confirmation and protection.
6. How can I break free from the payday loan cycle?
Answer: Solutions Credit Counselling can help. Call 1-877-588-9491 for a confidential consultation. From budget adjustments to payment schedules, we tailor solutions to your needs.
7. I have significant debt and can’t find work in my field. What can I do?
Answer: Call us to discuss your situation. We’ll explore all your solutions, considering your current circumstances, income, expenses, and types of debt.
8. I’ve been harassed for an old debt. How long until it is statute-barred, and what should I do?
Answer: The statute of limitations varies by province and type of debt. Get legal advice to understand your situation. Ensure your credit reports reflect the accurate debt status.
9. Is there a time limit for creditors to apply for debt repayment from an estate after someone dies?
Answer: Check your province’s Limitation Act for specific details.
Empower yourself with knowledge and take control of your financial destiny. Call Solutions Credit Counselling at 1-877-588-9491 or fill out our Get Your Debt Freedom Action Plan FORM. Break free from the complex world of debt and step into a brighter financial future today.
