How Long Can You Run From Your Debt?

A recent survey suggested that two in five Canadians believe they will never be free from debt.
The vast majority of people owe money, but there are very different levels of borrowing, and people react differently to being in a potentially sticky financial situation.

There is no universal solution for getting out of debt, but often, running away is not the answer.

In this guide, we’ll discuss how long you can run from debt, and whether burying your head in the sand is really the best or only option.

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What is the straw that breaks the camel’s back?


Every human being is unique, and we react to situations and scenarios in different ways.

People respond differently to being in debt, and some will decide to confront the problem and seek help long before others.

The straw that breaks the camel’s back can vary from one household to another.

For some people, usually those who are careful with money and like to keep a close eye on their finances, missing a single payment can cause them to take action.

In other cases, people can miss several payments without thinking about getting help.

If this scenario sounds familiar, the next step might be the proverbial straw.

If you get a call from a debt collector or threats of legal action, this is a warning sign many choose not to ignore.

The final step, which might urge those in debt to stop running, is wage garnishment.

If you’re already struggling to pay bills, the last thing you want is for your income to decrease and for creditors to start taking money from your wage packet.


Is it really possible to run from money worries?


In the vast majority of cases, doing nothing about debt problems, particularly mounting issues, will only cause the situation to get worse.

If you run from debt, it will eventually catch up with you, and you could end up paying a lot more than you would have by tackling the issue head-on earlier in the proceedings.

The only circumstances in which it’s possible to benefit from taking no action involve not having a job.

If you don’t work, there is no way of a creditor accessing your wages through garnishment.

There is a threat of legal action, but if you have no money to pay off your debts, creditors are limited in terms of what they can do.

It is worth noting that in this case, your debts will not vanish into thin air.

If you do start working and earning a wage, you will be required to make payments.

The same rules apply to a statute of limitations.

If your debts are outside of the limitation period, you won’t lose a court battle, but your debts will remain.

If you’re in debt, and you’ve missed payments, your credit report will contain information about outstanding debts and your rating will be low.


What are the alternatives to running from debt?


In almost all cases, there are alternatives that are preferable to running from debt.

Money worries are among the most common sources of anxiety among Canadian adults, but there is help out there.

According to a poll by Scotiabank, the average Canadian spends two hours per day worrying about their financial situation.

The good news is that there are ways to get back into the black.

Most people don’t want to run away or feel uneasy or on edge every time the phone rings or a letter sails through the mailbox.

If you want to sort out your finances and start working towards a debt-free future, it’s incredibly beneficial to seek expert advice.

An experienced debt and bankruptcy advisor can evaluate your individual situation and provide tailored advice to help you prioritize your debts, set up a payment schedule and improve your credit rating.




Millions of Canadian households are in debt.

If you’re finding it difficult to cover payments and pay bills on time, there is an alternative to running away and hoping the dust settles.

While it may be tempting to ignore phone calls and final demands, your debt won’t disappear.

Taking prompt action can save you a lot of money and stress in the long-term.

If you want to improve your financial situation and put money worries to bed, we’re here to help.

Call (877) 879-4770 for advice and guidance.

Our phone lines are open 24-hours-a-day.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Consumer Proposal Eligibility
How to Amend a Consumer Proposal

Canadian Bankruptcies

How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?

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