Hi folks
what is the best option for brankruptcy in ontario
if the person is unable to pay his credit card bills

it is better to file for bankruptcy or it involves also a lot of money

if someone has gone thru this process plz inform

thanks

wow u want to file for bankrupcy for 18K credit.

It is going to screw ur credit history for next 7 years..

Some companies do a credit check before they give u a job..

Your best option is to pay off ur credit card if ur credit currently is good

Try to renegotiate ur credit card interest rate with the bank that holds ur card..

Well said dudewheresmycar....

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Best regards

Lali

Geez Louis Man.... How did you get into this problem! I thought it is mostly local folks who borrow beyond their means and end up in all these situations. As somebody said above, if you can negotiate interest rate, it is the best option. But if there is no solution to it, I guess bankruptcy is the only way out. I am beside myself when recently-landed folks inquire about credit lines and all that. Credit card debt is a killer! If you have a close relative who is well set, ask them to pay off your debt and pay them installments at lower interest rates (comparable to what they might make if they had their stash in GICs). I know this takes a lot of trust and usually money kills friendships and relations if one does not keep trust.