Fort Erie Credit Counselling Services
Build A Better Financial Future With Our Fort Erie Credit Counselling Services
If you are in debt in Fort Erie, you may not be sure what your options are for resolving your debt.
How can you build a budget and work toward repaying what you owe?
What steps can you take to reduce your monthly payments?
Should you simply declare bankruptcy, and hope it works out for the best?
Being in debt isn’t easy, and it can be very difficult to get out of debt once you’ve taken out multiple loans and maxed out your credit cards.
And more Canadians than ever are struggling with debt.
Canadians added more than $100 billion in credit card debt in 2019 alone.
So what can you do?
Get Fort Erie credit counselling services from our friendly team!
Learn more about credit counselling below, or contact us now to get started.
What Is Credit Counselling?
Credit counselling is a comprehensive debt relief service that allows you to address the root cause of your debt, identify ways you can save money and pay what you owe, and take steps to reduce what you have to pay – such as debt consolidation loans and consumer proposals.
Rather than a single service, credit counselling consists of multiple services that will help you get to the root cause of debt – which is poor money management.
At Bankruptcy Canada, we specialize in helping consumers in Fort Erie learn about budgeting, the true cost of credit cards and loans, and other financial information that can help you build better financial habits, and get out of debt.
Credit counselling is not a short-term solution like bankruptcy.
Instead, this service will help you build the long-term financial habits you need to repay what you owe and stay out of debt for the rest of your life.
If that sounds good to you, we recommend contacting our team to consult with a licensed credit counsellor in Fort Erie right away.
Do I Have To Declare Bankruptcy If I Get Credit Counselling?
In fact, credit counselling is typically a good alternative to bankruptcy.
If you are struggling with debt, it’s a good idea to explore your other options for financial relief before you attempt to declare bankruptcy.
Why avoid bankruptcy?
First and foremost, the process can be long and difficult, and you may end up paying a lot of court fees and legal fees in Fort Erie.
Declaring bankruptcy is stressful, and can be embarrassing since the process is very public.
In addition, your first bankruptcy will also stay on your record for 6 years, while a second bankruptcy will affect your credit report for 14 years.
Having a bankruptcy can make it difficult to qualify for loans and credit in the future.
Bankruptcy is always an option.
But working with a credit counsellor can help you avoid this process.
And if your credit counsellor does decide that bankruptcy is the best choice for your financial situation, they will help guide you through the process, and give you the advice and support you need throughout the insolvency and bankruptcy procedure.
The Benefits Of Choosing Credit Counselling
Wondering why you should work with a credit counsellor in Fort Erie instead of trying to climb out of debt on your own?
Here are just a few of the benefits of getting professional help.
- Build better financial habits – It’s certainly possible to build better financial habits on your own. But with the help of a professional credit counsellor, you will get expert advice on how to reduce your spending, track your money, and avoid debt in the future.
- Learn more about budgeting – A personal budget is essential for the financial well-being of your household. Budgeting involves tracking every single dollar you make, and every single dollar you spend on your monthly expenses, including debt.By creating a budget, you can identify problem areas where you spend too much money, and take steps to reduce your monthly expenses and pay your debt down more quickly.
- Reduce the overall debt you pay – There are a few different ways to pay down debt more quickly, including taking out a debt consolidation loan, taking out a line of credit on your home, or even filing a consumer proposal with your creditors. With the help of a credit counsellor, you can determine which option is right for you.
- Get a “roadmap” to success – The worst thing about being in debt is that your situation feels hopeless. You don’t know what steps to take to reduce your debt, and the bills just keep piling up. And this is a serious problem. Debt in Canada has been associated with both poor mental and physical health.If you feel like you can’t get out of debt and you don’t even know where to start, working with a credit counsellor in Fort Erie is a great option. While working with your counsellor, you will learn about real-life, actionable steps you can take to save more money, reduce your debts, and climb out of the trap of consumer debt.
For all of these reasons and quite a few more, Fort Erie credit counselling from BankruptcyCanada’s local Fort Erie team is a great option if you’re struggling to pay down your debt, cover your monthly costs, and build a brighter financial future for you and your family.
Get In Touch With A Licensed Credit Counsellor In Fort Erie Today
If you are struggling with debt in Canada, you may feel like it’s impossible for you to get out, and you may be considering bankruptcy.
But before you take this step, make sure it’s your best option.
Our team of credit counsellors will provide you with the expert advice you need to reduce your debts, budget more effectively, and repay what you owe – and with the skills you’ve learned, you can avoid falling into debt in the future.
Contact us now to get a consultation.