I will say - "never burn the bridge" unless there is no other option.

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A Delhite in Toronto

Good advice by ashedfc.

Workout small monthly payments, keep couple of thousands in the bank for paying every month and explore your opportunities in India again with out worries. In this way you get the best of both the worlds.

$35K is tooooooooo small for Bankruptcy. If you want to do that than hit at least century before doing it

Quote:

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Originally posted by ashedfc

I met a person yesterday, who had $26000 credit card debt in 2004. He moved his address, changed his cell number, & didn't paid a dime since than. Although his credit is screwed, (as its on his credit report), so he can't get access to any new credit card.
But he was approved for investment loans in 2007, & RRSP loan in 2010 & 2011.. So inspite of his credit card unpaid history, he is still eligible for these loans..
And, in 2006 he jot a job in a reputed company (this company must have done a credit check before offering the job), & very recently in Sept 2011 he changed his company & is now working for an Insurance company. This new company must have also done a credit check before offering the salaried job of Licensed Home & Auto Insurance Representative.

He is using cash/debit since than, & is very happy

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infocan

Quality of decision depends on options you can find, right information you can gather and decide keeping your situation in mind.

1. Serach on google you will definitely find some forums.
2. Go to library find book on bankruptcy law in provine.
3. Contact Personal Bankrupty expert like http://www.personalbankruptcycanada.ca/videos/what-personal-bankruptcy-canada-1
to get their opinion.
Contact atleast three professional cross check their opinion.
4. Take decision.

In my opininon running away from debt is the good decision in short term.

I think filling bankruptcy is the long term fix. Filling bankruptcy is not crime, if someone can not pay debt bank can not kill for recovery, its not ICICI India and you are not in India. As you already passed 3 years in Canada you can get Canadian Citizenship, think on this point as well, you invested time and money to be here.

As I know one known family strated business and made heavy losses and ran away after selling thier home/car. I do not think they have any problem in India.

The link I posted have some videos, do research and take decision.

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san_sai

Has Trueman already vanished ? ? left us to discuss his unpaid debt !!