How to End Harassing Debt Collection For Good
It’s no secret that debt collection companies will work extremely hard to collect the money that is owed to their clients.
Each dollar they can squeeze out of you will be money in their own pocket, and this gives them a good reason to chase you up.
Of course, though, what will start with the odd polite phone call or email will quickly become something more akin to harassment than professional communication.
This can put a huge amount of pressure on normal people, making it hard to live a normal life, and often causing a lot of stress.
Thankfully, though, you have the power to escape debt collection calls.
Let’s take a look at your options and rights as you go through this process, and the support Bankruptcy Canada can offer throughout the process.
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How To Stop Debt Collection Calls in Canada
Debt collectors have to follow extremely strict rules in Canada.
They will work hard to make sure that they follow the law, though this may mean pushing the limits so that they can work towards getting what they want.
The Bankruptcy & Insolvency Act in Canada provides several protections to debtors in this situation, but you need to take the right steps to access this sort of support.
There are three main ways to stop debt collection calls in Canada, and each of them will make more sense for some than others, making it worth exploring these ideas to ensure that you choose the right one for you.
The friendly team at Bankruptcy Canada will be happy to help you as you go through this process.
Talk To Your Collection Agent
Collection agents will often be willing to be flexible with those who are willing to work with them, and this can make it surprisingly easy to work out your own arrangement with them.
You won’t be able to reduce your debt like this, but you will have an opportunity to arrange terms that work for you and stop the calls you keep getting.
It’s important that you don’t ignore calls from your collection agent if you want to go down this route.
If you simply ignore them and aim to work out a plan for yourself, you could find yourself facing issues like wage garnishment, but this could be avoided if you’re direct with them.
You need to make promises that will make your credit agents happy, while also ensuring that you can stick to the commitments you make.
Working with a financial company will never be easy, and a lot of people find themselves struggling as they go through this process.
It’s common for people to end up making arrangements that aren’t much better than their current situation, but the team at Bankruptcy Canada has the experience required to successfully negotiate with companies like this.
File A Consumer Proposal
A consumer proposal works very similarly to working out your own arrangement, and it will be used to negotiate the way that you settle your debt.
Unlike an unofficial arrangement, though, filing a consumer proposal will initiate a stay of proceedings, halting lawsuits in their tracks and making it illegal for your collection agency to continue chasing you up.
You can file a consumer proposal if you have more than $10,000 in debt, and this sort of arrangement can often reduce the overall debt you’ll have to pay.
Of course, though, it will be tricky to handle something like this if you don’t have any experience.
Bankruptcy Canada can help you to file a consumer proposal, giving you everything you need to make the process stress-free.
File For Bankruptcy
Many people find themselves being harassed by collection agencies on a daily basis, but simply can’t afford to work out an arrangement that will satisfy them.
In this instance, filing for bankruptcy can often be your best option.
Like a consumer proposal, this will provide the benefit of a stay of proceedings, but will also make it much easier to eliminate your debts.
You will be considered bankrupt until you’re able to pay off the money you owe, but you may not have to pay everything you’ve borrowed.
Bankruptcy Canada has worked with countless cases of bankruptcy, and can help you to decide whether or not this is the right route for you.
We understand that this is a big decision, and will always explore the alternatives with you before suggesting that you take this step.
Working to eliminate your debt will always be the best way to stop calls from collection agencies.
They make money from the debt you pay back, but they won’t have any reason to call you if you don’t owe anything in the first place.
We can help you to work out the best options when you’re trying to pay large amounts of debt, providing you with support when it comes to making budgets and getting better at saving.
The Rules Collection Agencies Must Follow in Canada
Like any type of financial business, debt collection agencies have to follow very strict rules that govern the way that they do business.
They must be registered with the local government, they must send written notices before they can call you, and they can’t contact you more than 3 times in a 7-day stretch.
There will also be heavy restrictions in place surrounding the times that they will call you.
Here at Bankruptcy Canada, we’ve spent almost 20 years working with clients in this sort of situation.
Receiving relentless calls and emails can feel very stressful, while also making it hard to live a normal life, and many people want to escape this sort of trap.
Of course, though, you will need to work hard to achieve this goal, and we’re here to help you out.
We encourage anyone who is looking to settle their debts to give our friendly team a call at 1-877-879-4770 for confidential and obligation-free advice.
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