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Hi there, I currently owe approximately 8000 on a cancelled credit card. I. Do not own a car or a house, and I'm a stay-at-home mom. If the bank sends my debt to a collection agency, what can the agency do? Like can they come into my house and take my things as compensation? I don't want to claim bankruptcy.



Grant Thornton Limited



Feb 03, 2016



Hi Jess, A collection agency will attempt to collect the debt on behalf of the credit card company. If the collection agency reports the debt on your credit report then it may show up as an R9 which is equivalent to a bad debt. The collection agency or the credit card company will not take your personal or household items unless you had pledged the items as terms of borrowing. Hope that answers your concern. If you would like to discuss further please contact our office at 310-8888 to speak to one of our professionals.

Susan Methuen
T 403-310-8888


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