Hi, we are from Manitoba, Canada.
We own our home (mortgaged) we are in credit card debt with 9 cards ($52,000). I(wife) have been unemployed since April do to health reasons. I have exhausted all employment benefits and medical benefits no longer on two wages. My husband works full time. With husbands wage we are getting farther and farther behind as the only things we can pay are the mortgage and vehicle plus the insurance on them and barely anything for groceries and medications never mind credit card payments. HELP. Don't know what to do. Can they sue us or what can we do. We have tried getting loans and we are unable to, rejected. Credit score has rapidly gone into the toilet. Before April the score was pretty good. I am not even worried really about the credit score, I am just worried about losing everything.

We have been in contact with all the credit card companies and explained the situation, some have been working with us. One has gone to collections and threatening with a lawyer. The highest cards is $12, 000. What would you suggest.

Thank you in advance.

caldon

I don't like giving you "consult with an Attorney" advice but I think that's the best option for you - an Attorney who specializes in Bankruptcy.

Your creditors have the option of working with you (and that can include obtaining Judgments but not enforcing them) or refusing to work with you. The Canadian Statute of Limitations changed a couple of years ago - when was the last time you used each credit card, including making a payment on it?

You certainly are not alone in this in this terrible economy but you need to consult with someone experienced in these matters in Canada.