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Creditor Help

Discussion in 'Alternative Dispute Resolution' started by Aturaten, Oct 31, 2007.

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  1. Aturaten

    Aturaten Law Topic Starter New Member

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    Well, this is not directly help for me, rather my mother. Recently my grandmother passed and left my mother her only real possession: a house. It's a relatively decent house but needs a lot of work as it's also quite old. Anyways, we also found out that she racked up considerable debt with various creditors using credit cards and the like. It totalled roughly 40,000 CAD dollars however each creditor had no more than 6,000 dollars to be received.

    What I'd like to know is this: would it be financially reasonable and practical for them to each go through legal hassles in order to receive a relatively small amount? Should we simply wait until the Statute of Limitations of the debts run out? Will they pursue civil action or not? Thanks to all who reply.
     

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