international collection agencies
asked November 30, 2017 by Anonymous
I am struggling to pay my debt of about 20 000 CAD (10 000 CAD on a credit line and the rest in 2 credit cards, all with Scotia Bank). I am currently away in Europe for school, and have been paying the interest using online banking. I am a student, unemployed and with no income. Since I am not physically in Canada, I cannot file bankrupcy at this moment. I do want to file in the future, when I return. I do not have any assets in Canada that can be seized. Should I stop paying the interest / monthly payments due to financial difficulties, should I worry about collection agencies coming after me in Europe?
It’s never wise to ignore your financial responsibilities. If you stop making payment, the debt could be sent to collections and they will phone all your known contacts numbers to try to speak to you. The best advice is to call your creditors and explain your situation to see what they can do for you.
answered 1 year ago by Debt.ca Staff