Frequently Asked Questions
Debt Collection Calls
Question Debt Collectors are calling me ALL THE TIME and as late as 8.30 at night. They even called me at work. Can they do that? Answer Unfortunately it doesn’t sound like the debt collectors have done anything illegal. While their behaviour isn’t pleasant (that’s what they’re paid to be like) and it isn’t banned. When can debt collectors call you? From 7.30 am to 9.00pm weekdays and 9am to 9pm on weekends How often can they contact you? They can contact you 3 times a week or 10 times a month. That includes letters, calls and emails. If you don’t answer your phone and they leave a message on your answering machine, that...
Read MoreGuarantor Question
Question My Dad went guarantor on my car loan. I’ve lost my job and I can’t afford to make the payments on the car; it’s still my debt right? What’s going to happen? Answer If you can’t make the payments on the loan, they will pursue your father for payments. They will generally pursue both you AND your father for the money, under the logic that this increases their chances of receiving some money. If both you and your father are unable to make payments, options for enforcing the debt include foreclosing on property (the car, other vehicles, houses, shares, etc), garnishing wages (obtaining a court order to take a percentage of your wage), and bankruptcy. If...
Read MoreJoint Debts
Question Hi, I’m having some problems with my debts; one of them is a loan I took out with my ex-girlfriend to buy some furniture when we moved in together, but now we’ve broken up. I’ll only have to pay half of that debt back, right? Answer A Joint Loan is something we get a lot of questions about. While you might think that when taking out a joint loan you are each liable for half the debt, you’re not. You’re actually both liable for the FULL amount. This is done to ensure that if one of you defaults on the loan, the creditor will still get their money because the other is still liable. If the other party isn’t paying the...
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