The entire process of a bankruptcy proceeding in Canada discharges most personal debt, including pay day loans.
You are considering claiming bankruptcy, here are the issues to consider if you have payday loans and:
Have you got other debts? The common pay day loan is generally $1,000 or less, therefore if your only debts are a couple of payday advances, bankruptcy may not be your option that is best. A far better approach could be to work through payment plans because of the pay loan company, where you pay them over a period of time day. (more…)Read More