Until you accomplish something, the very idea of it can feel impossible.
If you’ve ever trained for an athletic competition, whether it be running a 5K or a marathon or performing a backflip at a gymnasium, some days likely made you question why you were working towards the goal.
After all, wasn’t it impossible?
And yet, when you accomplished that goal, something probably clicked, making you realize the impossible was no more than a goal that you’d reached.
The next “impossible” dream was on the horizon, and well within reach by working diligently towards it.
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If every month you’re barely making the minimum payments on your credit cards, skrimping together every penny to pay your mortgage, or wondering when you’re ever going to be able to save enough money to breathe easy, getting ahead of debt may very well feel impossible.
You can do it, like every other thing you’ve accomplished that felt impossible at one point.
The debt cycle
The biggest problem when you’re trying to cut back your debt is the fact you’re already in debt.
What does that mean?
Well, if you’re trying to pay back your credit card loans, you’re likely falling into the trap of only paying back interest and very little principal.
This causes you to fall further and further into debt, especially when you realize that instead of putting money towards assets or retirement, you’re paying back money towards something you’ve owned for a long time, whether it be clothing, food, or other amenities.
So, how do you get out of debt rather than chasing circles after it?
It’s time to seek help
Credit counseling and debt experts may be exactly what you need to help you create a budget you can stick to.
In addition, you may be missing some key ways to pay down your debt, such as debt consolidation.
Sometimes, you can even negotiate your rates with credit card companies so that when you make monthly payments, you’re paying more of the principal of your unsecured loan which leads to having a smaller payment each month.
Slowly but surely, you can crest that debt hill instead of sliding backward.
It may feel impossible, but you can do it.
You don’t have to go it alone
We at Bankruptcy Canada don’t simply provide bankruptcy counseling; we’re here to help you understand you real options, and help you get your finances in order so you can breathe easy.
When you’re ready for a no-obligation consultation with one of our credit counselors, contact us to set up a judgment-free meeting.
If you’re not sure what kind of help you need, we’ll review your finances, see if there are places you can put a budget into place, and set up a plan for you.
Our services can help you with debt consolidation, consumer proposals, credit counseling, discuss debt restructuring, and find other debt solutions.
Reach out today and begin doing the impossible: conquering your debt.