Leaving Canada with debt.

[WraithTalk]

Good day folks. I just need a bit of advice on what really I should be doing given that I'm leaving the country on the 21st on this month because I've got a job back in my hometown

Long story short. I've been in Canada for a while now. I finished uni and tried to find a job in my field but with no luck. So I worked a few dead end jobs and did what I could to help pay off the entirety of my student loans and the money I've borrowed from from other people who were kind enough to help me out has been paid back as well, I've also made payments on my car, my rent among other things. The only thing I've left is a credit card debt of 1100 dollars. Not a big amount I know, but by paying the other things I've literally got 134 dollars in my account (I'm not kidding) to show as savings after all these year ( I tried to make a life here, didn't work out but that's for another time.) I'm pretty sure I would need that to go to the airport and whatever is left of the 100 odd dollars I would pay the bank.

Now I know I can pay back this money from my country slowly if I start earning but my new job is such that, they want me to train for 10 months straight with a very minimal amount which I will have to put towards my house rent and basic needs like food and all that. My pay goes up only after a year, post which I will start paying back the bank, so, I can't really start paying anytime soon. Now in that one year or one and a half years will I be tracked down by the bank or be sued.Can they send people to my country to get me to pay. Or, Is there a way I can ask the bank for two years time before I can start paying back the amount, or, do I declare bankruptcy or Do I just not pay? I know there will be charges but I'm just at a point in my life where I can't borrow money from anybody and I'm trying to make a living.

Please advice!

 

[scylla]

Good day folks. I just need a bit of advice on what really I should be doing given that I'm leaving the country on the 21st on this month because I've got a job back in my hometown

Long story short. I've been in Canada for a while now. I finished uni and tried to find a job in my field but with no luck. So I worked a few dead end jobs and did what I could to help pay off the entirety of my student loans and the money I've borrowed from from other people who were kind enough to help me out has been paid back as well, I've also made payments on my car, my rent among other things. The only thing I've left is a credit card debt of 1100 dollars. Not a big amount I know, but by paying the other things I've literally got 134 dollars in my account (I'm not kidding) to show as savings after all these year ( I tried to make a life here, didn't work out but that's for another time.) I'm pretty sure I would need that to go to the airport and whatever is left of the 100 odd dollars I would pay the bank.

Now I know I can pay back this money from my country slowly if I start earning but my new job is such that, they want me to train for 10 months straight with a very minimal amount which I will have to put towards my house rent and basic needs like food and all that. My pay goes up only after a year, post which I will start paying back the bank, so, I can't really start paying anytime soon. Now in that one year or one and a half years will I be tracked down by the bank or be sued.Can they send people to my country to get me to pay. Or, Is there a way I can ask the bank for two years time before I can start paying back the amount, or, do I declare bankruptcy or Do I just not pay? I know there will be charges but I'm just at a point in my life where I can't borrow money from anybody and I'm trying to make a living.

Please advice!

You'll need to speak witn your bank to see what your options are.

They won't go after you in your home country. However this will ruin your credit score in Canada. So if you ever plan to return, this can create issues in getting a credit card, line of credit, morgtage, getting a place to rent, and in some cases can also impact employment (depending on the job).

 

[Copingwithlife]

Concur with Scylla, in some cases a poor credit score can be detrimental to employment. Friend applied at a job, she passed testing, interview, everything, all up till they did a credit check. Then it was no thank you, clean up your credit, then get back to us

 

[WraithTalk]

You'll need to speak witn your bank to see what your options are.

They won't go after you in your home country. However this will ruin your credit score in Canada. So if you ever plan to return, this can create issues in getting a credit card, line of credit, morgtage, getting a place to rent, and in some cases can also impact employment (depending on the job).

Thanks for the prompt reply. I don't think I'll ever come back again for certain. I'll try reaching out to the bank to see if they can give me two years time even though I think it's highly unlikely.

 

[suriben]

Good day folks. I just need a bit of advice on what really I should be doing given that I'm leaving the country on the 21st on this month because I've got a job back in my hometown

Long story short. I've been in Canada for a while now. I finished uni and tried to find a job in my field but with no luck. So I worked a few dead end jobs and did what I could to help pay off the entirety of my student loans and the money I've borrowed from from other people who were kind enough to help me out has been paid back as well, I've also made payments on my car, my rent among other things. The only thing I've left is a credit card debt of 1100 dollars. Not a big amount I know, but by paying the other things I've literally got 134 dollars in my account (I'm not kidding) to show as savings after all these year ( I tried to make a life here, didn't work out but that's for another time.) I'm pretty sure I would need that to go to the airport and whatever is left of the 100 odd dollars I would pay the bank.

Now I know I can pay back this money from my country slowly if I start earning but my new job is such that, they want me to train for 10 months straight with a very minimal amount which I will have to put towards my house rent and basic needs like food and all that. My pay goes up only after a year, post which I will start paying back the bank, so, I can't really start paying anytime soon. Now in that one year or one and a half years will I be tracked down by the bank or be sued.Can they send people to my country to get me to pay. Or, Is there a way I can ask the bank for two years time before I can start paying back the amount, or, do I declare bankruptcy or Do I just not pay? I know there will be charges but I'm just at a point in my life where I can't borrow money from anybody and I'm trying to make a living.

Please advice!

Talk to your bank.Its not hopeless.you could get a job in Canada last minute. You are Canadian educated so you may come back. BUT Because you took off
Judgement will go on your credit file if bank sues and get judgement.
If you return to canada the bank can ask court to garnish wages.bank can ask court to do an examination hearing for you to explain your financial situation.assets.debts.income..court can order forensic financial audit on you..you MUST attend court or its *contempt of court* if you dont show up.Penalty is you can be jailed or fined.

 

[suriben]

Good day folks. I just need a bit of advice on what really I should be doing given that I'm leaving the country on the 21st on this month because I've got a job back in my hometown

".The only thing I've left is a credit card debt of 1100 dollars. Not a big amount I know, but by paying the other things I've literally got 134 dollars in my account.."

".. Now in that one year or one and a half years will I be tracked down by the bank or be sued.Can they send people to my country to get me to pay. Or, Is there a way I can ask the bank for two years time before I can start paying back the amount, or, do I declare bankruptcy or Do I just not pay? I know there will be charges but I'm just at a point in my life where I can't borrow money from anybody and I'm trying to make a living.

Please advice!

i did some more digging and found out that suing someone who has left Canada is possible.It depends on the country. Permission maybe require by a judge. It has to be a enormous sum of money.to make sense..dont worry i dont think 1100 dollars counts as a large sum of money for that hassle. Sometimes there are Canadian lawyers who know other lawyers in the defendants country and can work with them to get the money owed by the plantiff.
Also In Canada If you declare bankruptcy you cannot sponsor for 7years.

 

[kurisuvincent]

Good day folks. I just need a bit of advice on what really I should be doing given that I'm leaving the country on the 21st on this month because I've got a job back in my hometown

Long story short. I've been in Canada for a while now. I finished uni and tried to find a job in my field but with no luck. So I worked a few dead end jobs and did what I could to help pay off the entirety of my student loans and the money I've borrowed from from other people who were kind enough to help me out has been paid back as well, I've also made payments on my car, my rent among other things. The only thing I've left is a credit card debt of 1100 dollars. Not a big amount I know, but by paying the other things I've literally got 134 dollars in my account (I'm not kidding) to show as savings after all these year ( I tried to make a life here, didn't work out but that's for another time.) I'm pretty sure I would need that to go to the airport and whatever is left of the 100 odd dollars I would pay the bank.

Now I know I can pay back this money from my country slowly if I start earning but my new job is such that, they want me to train for 10 months straight with a very minimal amount which I will have to put towards my house rent and basic needs like food and all that. My pay goes up only after a year, post which I will start paying back the bank, so, I can't really start paying anytime soon. Now in that one year or one and a half years will I be tracked down by the bank or be sued.Can they send people to my country to get me to pay. Or, Is there a way I can ask the bank for two years time before I can start paying back the amount, or, do I declare bankruptcy or Do I just not pay? I know there will be charges but I'm just at a point in my life where I can't borrow money from anybody and I'm trying to make a living.

Please advice!

What happened to you now? My friend here is in the same boat. Don't know that to say to him