Debt & Credit Counselling Services - Licensed Experts
Licensed Experts Providing Debt & Credit Counselling Help
In a perfect world, there would be no debt.
But we can all agree that this world is far from perfect.
Many Canadians have racked up significant personal debts, not because they lead a particularly extravagant lifestyle- but simply to keep themselves and their families afloat.
The cost of living continues to climb, yet our salaries rarely rise to meet it, making personal debt an inevitability.
If your debt has spiralled out of your control, it can be a source of great anxiety and stress in your life.
Indeed, it may seem insurmountable at times.
Fear not, however, because whatever you owe and whomever your creditors, there are always solutions.
Since 1999, we’ve been helping normal people just like you to liberate themselves from personal debt through Debt & Credit Counselling Services.
What is Debt & Credit Counselling?
We fall behind on our debts for all sorts of reasons.
Just like mental health counselling helps us to find practical ways to deal with our negative thoughts and emotions, Debt & Credit Counselling help you to find practical solutions to the problem of debt.
This doesn’t just mean finding ways to reduce or pay debts more easily.
It’s also about helping to develop a proactive attitude to personal finance and prevent the bad habits that can cause debts to spiral out of control.
How does Debt & Credit Counselling work?
Effective Debt & Credit Counselling isn’t about one-size-fits all solutions.
It’s about taking the time to get to know you and ascertain your needs based on your circumstances.
A good counselling service will provide a custom service that is tailored to your unique needs based on your earnings, your assets, how much you owe and to whom.
Rather than push just one solution on you, they will take the time to explain all the available options and encourage you to decide on the best one to suit your needs.
Why you need a Licensed Insolvency Trustee
Debt can leave you financially and emotionally vulnerable.
As such, it’s important to know whom you can trust.
Only a Licensed Insolvency Trustee can be relied upon to give you the comprehensive and impartial support that you need.
Because, unlike not-for profit debt counselling agencies, they are legally obliged to make sure that you understand all of your available debt relief options.
A not-for-profit counsellor will likely only suggest a debt management plan.
And while this certainly may be the best option for you, by no means will it be the only available solution.
It’s also important to remember that not-for-profit counselling agencies are (surprisingly to many) not subject to any government regulation or third-party oversight.
Licensed Trustees, however, are fully government licensed and regulated.
As such Licensed Trustees are the best positioned to help you find a solution to your debt situation.
Click Here to find a Licensed Trustee near you.
Know your options
A debt management solution is a useful way of making it easier to pay off the debt that you owe in full.
Your counsellor may even be able to work in some interest relief.
But this is only really the best option for those with less than $10,000 debt who can afford to pay off 100% of their debts.
But what if you are unable to do this?
What if you owe a substantially larger amount?
There are options that will allow you to write off all or some of your debt.
A Consumer Proposal is similar to a debt management plan, but far more advantageous if you owe more than $10,000.
A Trustee can act as a Proposal Administrator and work with you to negotiate a repayment plan that is fair and advantageous to you and your creditor.
This may enable you to settle your debt for less than the full amount owed.
This is not the same as bankruptcy.
We have written a post that will help to explain the difference here.
In most cases, bankruptcy will not be necessary to remove the millstone of debt from around your neck.
In some circumstances, however, Personal Bankruptcy solution should be considered in order to write off some or all of your debts.
This may be a solution if your debts eclipse what you could realistically be expected to repay.
Of course, bankruptcy is not entered into lightly, and a Licensed Insolvency Trustee can help you to make an informed decision as to whether or not this is the best option for you.
How can we help you?
For over 20 years, we’ve been helping ordinary Canadians just like you to liberate themselves from the effects of their personal debts.
If you don’t know where to turn, our licensed experts can point you in the right direction.
Call us today on (877)879-4770. Our callback service is 100% confidential, risk-free, and absolutely zero-obligation.