0001 - Debt Related Queston: Bankruptcy Question # 0001

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QUESTION #0001:

I am overwhelmed by debt and worried about my privacy. I don't want my friends and family to know about my situation, yet I need someone to talk to. What can I do?



ANSWER:

Free consultations are completely confidential, and provide un-biased advice for debt solutions. Your friends and family only know your financial situation if you choose to tell them. However, if any of the debts are joint debts, or were co-signed, non-payment will result in the creditors attempting to collect from the joint debtor or co-signer. It is inappropriate for creditors to disclose financial information to anyone other than the individual they are collecting from. For more details on collections practices log on to the Business Practice & Consumer Protection Authority of BC at http://www.bpcpa.ca. If you choose to file a formal repayment plan (Consumer Proposal), or assign into Bankruptcy, the trustee is obligated to provide specific information to your creditors and our regulatory body (Industry Canada). Your estate is not open for discussion with friends or relatives, or former-spouses.