Not paying your debts, even for a little while, is serious. It can hurt you for years, damage your credit rating , affect your ability to get credit, stop you from getting a mortgage, and interfere with your enjoyment of life.
If you are being contacted by Collection Agencies and are in the Greater Toronto Area – it may be time for you to consult with the experts at David Sklar & Associates – call 416-498-9200 for a Free Consultation to explore your options.
Missing even one payment to your creditors can result in damage to your credit rating.
When you are dealing with your creditors – your attitude can make a major difference!
Establish a good rapport with your creditors by paying your bills on time – all the time.
If you are legitimately unable to make your full payments (ie job loss, injury, etc):
If a creditor feels that their efforts to collect your debt have not been successful – they may turn your debt over to a Collection Agency. Your creditor will send you a letter of notification telling you how much of your debt has been turned over to which collection agency. From that point on – you will be dealing with the agency and not the creditor (unless there is a dispute about the bill itself – or if you believe, you have paid the bill).
When your account is handed to a Collection Agency, your credit rating has been seriously damaged.
If you honestly do not think you can pay the Collection Agency what you owe in a reasonable timeframe, your best option may be to speak with the experts at one of David Sklar & Associates’ six Greater Toronto offices. Book a Free, no obligation consultation – find out how we can help – 416-498-9200.
When you are dealing with a Collection Agency – your attitude can make a difference. However, you must remember that Collection Agencies tend to play hardball. Remember:
To protect your rights – Collection Agencies in Ontario are governed by a number of Acts – most notably the “Collection Agencies Act”.
The following are just some of the Ontario rules for Collection Agencies – for exact guidelines and legislation – please visit the Ontario Ministry of Consumer Services website.
For more information on Collection Agency guidelines in Ontario visit the Ontario Ministry of Consumer Services online.
If you are unable to pay your debts and are being contacted by Collection Agencies – it is time to contact the experts at David Sklar & Associates for a Free Consultation. With six convenient offices in the Greater Toronto Area, we can help you sort out your best options for recovering your financial future.
Call Us Today For a Confidential & Free Initial Consultation Call 416-498-9200