Settling Your Debts
Being in a substantial amount of debt isn’t the best feeling.
Especially if you find yourself in a situation where you are struggling to pay back what you owe.
The good news is that there are strategies you can use to your advantage.
In fact, one of the most promising is to agree with your debtors to pay back a portion of what you owe, rather than the entire amount.
Something you can do with a lump sum to significantly reduce the financial pressure you are under.
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In fact, this is common practice in the finance world.
Although agreements will vary depending on the provider and the individual involved.
However, some people can expect to pay only 80% – 50% of what they owe.
In some very special cases, debt settlement providers have been known to negotiate down to only 20% of the original debt.
Something that obviously makes this choice an attractive one for those that find themselves in dire financial straits.
The main issue with paying off a lump sum at a reduced rate to your creditor is that it can be hard to come by.
Particularly if you already find yourself struggling to meet your money payments.
The good news is that raising the lump sum on your own is not the only option to consider.
In fact, our compassionate experts are well versed in the range of options on offer, such as Consumer Proposals and Debt Management Programs.
Therefore, if you’d like to know what choices are open to you, call us on 1-877-879-4770 for a free chat about your options.
Our debt settlement program
Here at bankruptcycanada.com, one of our trustworthy experts will be able to issue a debt settlement that will give you access to the lump sum you need to settle your debts.
In fact, our debt settlement program is something particularly proud of for several reasons.
The first is that we have invested a great deal of time, effort, and training to make sure that our experts consider your settlement, not only from the creditor’s perspective but yours as well.
Something that means we will work tirelessly to get you the best rate possible, and never impose a settlement that is unsuited to your circumstances.
In fact, you can expect each solution to be different depending on the variables involved, such as the creditor, and your own personal needs.
Fortunately, our extensive experience in this area means we can guide you through the entire process.
All the while, making sure that we match your needs with the best possible outcome.
Get in contact by filling in the form below today to find out how we can help you.
No risk, no fee, no obligation
We are also particularly proud that we will not charge you for the work we have done in the unlikely case we cannot find you a settlement.
In fact, unless you have agreed and your creditor has signed the paperwork, you can expect to be zero out of pocket!
That is why deciding to call us on 1-877-879-4770 is one of the most sensible decisions you can make concerning your finances.
Beware scam debt settlement providers
Finally, when it comes to debt settlements, you must remember that not all organisations are run in the same way bankruptcycanada.com is.
This is because, at bankruptcycanada.com, we are a not-for-profit organisation.
Something that means we prioritize transparency, objectivity, and have a strict, ethical way of working.
We therefore, will always strive to get you the best settlement and never coax you into one that wouldn’t work for you.
Unfortunately, since 2010, the market in Canada has been awash with scam US debt settlement providers that work on a for-profit basis.
Of course, that means the advice they are providing is not objective at all.
In fact, it is usually determined by the commission rates that the organisations receive from the third parties offering to cover the debt.
Something usually means the individual’s debtors’ financial wellbeing is far down on the list of priorities.
In fact, some of these providers will collect money every month from you without any contract with your creditors.
Similarly, there is often no agreement in place that will pay your money back to you if they are unsuccessful.
This has been such a pronounced issue with these US providers that it has left many people feeling confused over the issue of debt settlement.
Something that means they may not be aware of the viable and helpful options that do exist.
Happily, our experts at bankruptcycanada.com will be happy to explain any issues you have regarding this, or any other debt settlement confusion or query you have.
Call us on 1-877-879-4770 or complete the form below to begin the conversion.
Final thoughts
In summary, debt settlement in Canada is the process whereby you can arrange to pay off a percentage of the amount you own rather than the entire amount.
Of course, this can be very beneficial for many people.
This is because it saves money and allows them to right their finances when they would be in an otherwise precarious position.
Also, by choosing the right organisation to work with, you can avoid paying out a fee for negotiating debt settlement unless a successful agreement is reached.
However, it is wise to be aware that not all debt settlement providers are operating on the strict ethical codes that we pride ourselves on.
In fact, there has recently been a flood of less scrupulous debt relief for profit provided operating out of the USA.
A situation that has led some debtors to be pressed into settlement deals that are less than ideal.
Something that it is crucial you avoid if you deduce to go down this route.
Happily, if you have any questions about arranging a debt settlement in Canada, you can give our trustworthy experts a call.
In fact, they will be only too happy to explain the process to you.
While working to find a settlement that is perfect for your needs.
All you need to do is call bankruptcycanada.com on 1-877-879-4770 or complete the form below to begin the process.
Information on Consumer Proposals
Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
How to Amend a Consumer Proposal
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
Consumer Proposal Eligibility
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Canadian Bankruptcies
How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?
