| Author: |
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Oscar |
| Date: |
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September 23, 2002 |
| Question: |
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I am 23 years old and in trouble with collectors and creditors. I roughly owe about $6,000 dollars in credit card debts. I've gone to several banks in need of possible help. Each time I was told that I could not get a consolidation loan because I had no collateral. I bought a car which I have no problem paying for. It's just it takes up a good percentage of my salary. What can you suggest I can do about my current situation?
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From: |
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Ann Clarke, Collins Barrow Limited |
| Date: |
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September 24, 2002 |
| Answer: |
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With only $6,000 in debts the Orderly Payment of Debt program offered by Credit Counselling Services of Alberta may be a good option for you. It allows you to pay all your unsecured debts over 4 years at a reduced interest rate. You can reach them in Alberta at 1-888-294-0076 or check their website at www.creditcounselling.com. If you can't qualify for that program then bankruptcy may be another option for you. You'd need to speak to a Trustee about bankruptcy.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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