We are hearing from many that they are not able to deal with their debts, especially high-interest payday lenders.
The lay-offs brought about by mandatory closure of “non-essential businesses” in Ontario, due to Covid-19, have made it nearly impossible to make payment toward payday loans (and other debt as well).
Clearly the top priority should be to stay healthy and to ensure that you have a roof over your head, and food on your plate.
But take heart: Payday loans ARE dischargeable in a bankruptcy and in a consumer proposal (they ‘go-away’). Most other unsecured debts are dischargeable too (such as credit cards, charge cards, and even tax debt).
Stay healthy. We are here to help.