How Serious is Bankruptcy Threat from Collections?

[harmony77]

@resjudicata The statue of limitations in Quebec is 3 years with an exception for a court judgement, which has a 10 year statue of limitations, including TAL judgements.

 

[resjudicata]

@harmony77 The likelihood of a collection agency suing you is almost zero and the likelihood of them forcing you into an “act of bankruptcy “ is 0. Court costs money and litigation costs money it’s far cheaper for them to re age the debt and leverage you into paying by calling you from different phone numbers on a daily basis

 

[nesterg]

@aaronmark Thing is any entity who chooses to pay pennies to corporations worth hundreds of billions. To then believe they have some right to attack another human being in order to make huge profit margins off their pennies. Here’s the thing. If you choose to make your living by picking up a phone and causing added stresss grief, and threats. You win the award of being granted loser human status. I’m 40 years old, and from the age of 17 have taken out multiple loans which at this point amount to just under two hundred thousand. Through the years, their were a couple issues, minor on the grand scale. So tell me why when you pay off multiple 50, 30 thousand dollar loans does that not bear any weight to your credit score. But soon as you have a credit card and are responsible with boom, your good.

 

[nesterg]

Why should the sole reality of having a credit cord hold more weight than over the corse of 20 years, paying back loans that amount to over 200 thousand

 

[nesterg]

I paid a 55 thousand dollar lone off with one missed payment over 6 years, and because some collections guy didn’t get his 200 bucks he paid 5 dollars for. The bank that gave the 55 thousand dollar lone won’t even consider looking at me. The fucking system is corrupt

 

[jaufre]

@aaronmark Well you won't be borrowing for the foreseeable future. I don't see how that can work really. It's unsecured debt. Just an empty threat. Do you own a home? Can you afford a proposal?

 

[aaronmark]

@jaufre They own a home, can’t afford any kind of legal fees.