2014-03-14
Many people struggling from debt issues are afraid to answer the phone or open their mail. As debt issues get worse, the contact with creditors can become more frequent and more demanding. This is especially true if your debt has been transferred to a collection agency. The Ministry of Consumer Services outlines some useful information regarding collection agencies and debt collection for consumers. Here's what you need to know:
A collection agency can contact family and friends to enquire about your address or telephone number if they have been unable to reach you. Ignoring telephone calls and letters may lead the creditor to seek other ways to reach you as they attempt to collect your debt.
To get a creditor to stop calling you, you need to make a mutually agreeable payment arrangement. Once an agreement has been reached, be careful not to default on any of the scheduled payments or you could be subject to legal action. If you have multiple accounts in collection, you must make separate agreements with each agency.
If you cannot afford to pay your debt, it's time to contact MNP to discuss your options. We can help you negotiate a plan with your creditors based on what you can afford to pay each month. To put an end to harassing phone calls and debt stress, contact MNP today.
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Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.
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With rising inflation, increasing housing costs, and mounting daily expenses, many Canadians are finding that their paychecks no longer allow them to live as comfortably as they once did. Whether you're trying to pay off debt, save for a rainy day, or enjoy greater financial freedom, one option to consider is a side hustle.
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Owing the government money can be very intimidating as it's assumed the government has a limitless ability to collect the debt through any means necessary.
