Without naming names, one of the largest employers in Brantford is a collection agency. (Collection agents work for companies, like banks and credit card companies, to collect money from people who are behind on their bills). While many collection agencies are based in the United States or even overseas, it is not uncommon for Brantford residents to receive calls from collection agents based in Brantford.
Collection agents receive a commission for every dollar they collect, so they are persistent; they will keep calling until they collect.
There are five obvious strategies for dealing with collection agents.
First, if you have the money, pay them, or work out a plan to pay them over time. Making a budget is a good way to decide what you can afford to offer as a payment each month.
Second, try getting a debt consolidation loan to reduce the interest you pay.
Third, if you don't qualify for a debt consolidation loan, you could try a debt management plan through a not-for-profit credit counsellor; in Brantford, there is only one non-profit credit counselling organization: the Family Counselling Centre of Brant.
If your debts are too high for a debt management plan, a consumer proposal or a bankruptcy may be required.
Collection agents will not just give up, so if you are getting frequent calls from collection agents, call us in Brantford at (519) 770-4440 or e-mail us to ask a question or set up a free consultation.
budget, debt consolidation loan, credit counseling, consumer proposal, personal bankruptcy, bankruptcy Brantford, bankruptcy Ontario
posted by J. Douglas Hoyes, CA, Trustee @ 3:12 PM
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