The process of personal bankruptcy in Canada discharges most debt that is unsecured including payday advances.
You are considering claiming bankruptcy, here are the issues to consider if you have payday loans and:
Have you got other debts? The typical cash advance is normally $1,000 or less, therefore if your only debts are 1 or 2 pay day loans, bankruptcy is almost certainly not your option that is best. A far better approach could be to sort out re payment arrangements aided by the pay day lender, in which you pay them over a period of time. Read more