I owe a large CIBC Visa bill, in which they have cancelled me collections and I sent CIBC 6 post dated cheques for $250.00@ for the 15th of each month. I am unemployeed and have other debts as well. I received Unemployment insurance and when I explained this to the collection agency they advised that he was going to seize my property,unless I come up with $9,500.00 now and he was not interested in a payment plan and if I did not come up with the funds now then he was going to garnish my assets and take me to court. I explained that it was impossible due to I have another debt with CIBC and he said he would take my house and called me a looser and told me to go out and prostitute myself to get the money or else. I understand I owe the money and I am trying to pay back everyone,I am not renaging on my debts nor do I intend to take a settlement as I feel I owe the Money, I used the card and finance and fairs fair,why should everyone else pay my debt through high interest rates. However what are my rights. I cannot come up with that amount of money, nor should I feel threaten by this man. Please help and advise.

Regarding your legal options I would suggest you try to locate a legal aide office in your area. They will be able to give you valid advice for your state. I do not believe they can take your house, but you may have to declare bankruptcy to protect it.

Regarding the abuse contact your phone company. They will assist you in the proper course of action.

You need to speak with a bankruptcy lawyer about chapter 7 before Congress completely changes the law.

Debt collectors threaten like crazy but the reality is that it takes a very long time to obtain a judgment and even longer to garnish wages or grab your property in other proceedings.