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Do I Need to Meet My Creditors?

Posted on Feb 26, 2015 in Credit, Creditor Negotiation, Finances | 0 comments

The last people you want to meet when going through a bankruptcy in Ontario is your creditors, right? You know, the people who have been sending you notices, phoning you non-stop, garnisheeing your wages and generally making your life difficult. What are the chances you will have to get face to face with people who definitely aren’t part of your fan club? The chances are very small. In our experience at Richard Killen & Associates,...

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Informal Arrangements Need Full Agreement

Posted on Jun 16, 2014 in Credit, Creditor Negotiation, Debt | 0 comments

One of the options in dealing with a debt crisis is an informal arrangement. This is essentially reorganizing the debts that you have with the creditors you owe the money to. We’re not talking here about a consolidation loan. That’s different because you end up with only one creditor if can consolidate your debts. An informal arrangement involves renegotiating the debts you have with the creditors themselves. You still end up with the same...

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What Are the Alternatives in Coping With a Debt Crisis?

Posted on Jun 16, 2014 in Credit, Creditor Negotiation, Debt, Debt Counseling | 0 comments

No one wants to go bankrupt. It is the last resort when faced with insurmountable financial problems. But even if your payments are in arrears and you are getting collection calls, there are other options besides a bankruptcy, which we at Richard Killen & Associates are glad to explain. These include: Getting a Consolidation Loan If you can qualify for a consolidation loan, you can bundle all your debts into a single package and make a...

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Stop Harassment by Creditors

Posted on Jun 16, 2014 in Credit, Creditor Negotiation, Debt | 0 comments

Debt collectors can be, uh, zealous in their pursuit of money owed. Stories of daily phone calls, threats, bothering friends and relatives, and late-night contacts abound. In some cases debt collectors have aggressively pursued ridiculously small amounts of money, and even gone after people who owe nothing at all. The point is, there are limits to what these agencies can do to collect cash. In Ontario, the Collections Agencies Act lays out the...

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