Admitting financial difficulties isn’t easy. We hear from people every day how hard it was to pick up the phone and ask for help. They are embarrassed, scared and fearful of what other people think of them. In short, they don’t want anyone else to know they are in trouble.
Privacy Issues with Bankruptcy and Consumer Proposals
Debt is a private matter. Unfortunately, depending on how it’s handled, it doesn’t stay private.
Any legal process, such as bankruptcy or a consumer proposal, is part of the public record. With a little searching online, the details of the agreement can be found by anyone: a friend, a spouse, an employer or worse, a potential employer.
In the case of either legal process, the creditor is being asked to accept only a portion of the outstanding debt, so they want the world to know that you haven’t paid them in full. It’s not fair (in the creditor’s eyes) that you can buy from someone else when you can’t afford to pay what you owe to them.
How to Protect & Guard Your Privacy When Dealing with Debt Issues
Credit counselling isn’t a legal process, so there is no public notice of your debts. The only people who know about what you are going through are you, your Counsellor, a small number of people who support your repayment program and your creditors. No one else.
Not only is the counselling process entirely confidential, we’ll help you become debt free, for good. We’ll help you organize your debts into a single payment, contact your creditors to arrange to pay your balances and work with you to better budget your money now, and into the future. Your debt-free future.
Every situation if different and unique. Sometimes, declaring bankruptcy or entering into a consumer proposal is the best way to deal with debt. In some cases, it’s the only option but comes with consequences. Non-profit credit counselling organizations can provide free, confidential and effective advice on your situation, and point you in the right direction.
Keep your financial challenges private by working with an accredited, trusted, non-profit credit counselling organization. Credit Counselling Canada represents the most trusted non-profit credit counselling agencies in Canada, and a list of their members is available on their website. Speak with one of them or speak with us. We all offer non-profit, free, confidential, and non-judgmental help. Call today.