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New Immigrant with Bad Credit Issues

Posted in Canada forum 09 Dec 2009, 08:38

Hello People,

I need some advise, I really don't know what to do. So any advise will be appreciated.

I came to Canada on a student visa and stayed here for 2 years during this time I had a SIN no starting from 9. I also had credit cards from TD, MBNA, RBC, Zellers, Futureshop, and an over draft from TD. 

I filed my PR and went back to my home country as my visa expired. I was in my country for 2 years and now I have received my PR and I am back..

The most foolish thing I did was I stopped paying my bills when I left the country, another reason I did that was I was out of money.

 I also had a FIDO contract and a rental lease

Now I am back not only with Bad credit but also with no clue whom should I call to make the payments as no collection agency has my no or my address.

On my credit report it says "bad debts" against all cards and accounts.

So I have 3 main questions, 

1. what is the best way to pay off these debts, and how should I go about it.

2. Once I pay my debt to the collection agency what effect does that have on my credit history. I mean the banks have already written it as bad debts.

3. What's are the Do's and Don'ts in my case, that any one can recommend.

I am trying to settle in this new country with an extremely bad credit. :(   

  •  

    bad credit issues

    posted by  Bogdan S. in Canada forum 23 May 2010, 00:30

    Hi Joa Mon,
    Im not sure if you've resolved the debt issues. There are few options available. Please email me at […] and Ill explain some of the options.

    Thanks

  •  

    hello Joa Mon

    posted by  richelle M in Canada forum 16 Jun 2010, 17:49

    thats really unfortunate. you can try to make an appeal and explain your side to the various banks you have bad debts with. after you clear your bad credits then you can check the available visa rewards credit cards in Canada. hope this helps!

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