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debt collectors stuaute of limitiation

nick c (Calgary)

9 months ago I had a mental breakdown, from it i lost my job and all assets and unable to pay minimum payments on my unsecured debts. I find my self currently homeless living couch to couch and still mentally unable to work and at this point do not know when Ill be able to.

I have received word that I have been served papers from several collection agencies. I have not responded. Some advice that i received was to file for bankruptcy or allow the statute of limitation to run out from the collection agencies(provided I can outlast this). My question is because i have no income or assets at all, what of these two choices would be best for me, if there is even a choice. And what would be the ramifications of either choices?

0 8 days ago

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