Introduction

If you’re struggling with debt, there are a lot of options out there for getting help. But which one is right for you? This article will help answer that question and walk you through how to choose the best debt help provider.

Choose the best debt help provider for you

It is important to choose a debt help provider that is accredited, independent, and transparent.

• Accredited: The first thing to look for when choosing a debt help provider is whether or not it’s accredited by the government. This can be found on the website of your chosen provider. If you don’t see any accreditation information on their site, that’s probably a red flag and you should look elsewhere for help with your debts.
• Independent: You want to make sure that your debt management company doesn’t have any ties with other financial institutions (e.g., banks). This means they are not owned or affiliated with any banks or credit card companies and cannot offer products like loans through them either because it could compromise their independence as an unbiased third party in between you and those who owe you money such as credit card companies or lenders whose loans haven’t been paid off yet due to insufficient funds being available at the time when payment was due.”

Consumer Proposal

Consumer proposals are a negotiated settlement—but this one happens outside the courtroom and is legally binding, so once it’s agreed upon by all parties (including you), it must be followed through on. However, while this can be helpful in getting out of debt, it does require approval from creditors and approval from courts. These types of negotiations generally tend to result in better repayment terms.

How to choose the right debt help provider

• Look for a provider that is accredited.
• Consider a local provider.
• Make sure the provider has ample experience in debt relief.
• Choose an affordable company with transparent pricing.
• Beware of companies that are not flexible or supportive when you have questions or concerns about your debt relief plan (or anything else).

Don’t settle for something that doesn’t help.

It is important to know that it is not always necessary to settle for the first debt help provider you come across. Take some time and do your research before signing up with any company or person offering their services as a debt consolidator, credit counselor or debt management plan provider.

You don’t want to sign up with someone who doesn’t have your best interests in mind, nor should you sign up with them if they don’t meet all of your needs and/or budget requirements.

Conclusion

We hope the information here has helped you to decide which debt help provider is best for your situation. Remember, there are many out there so do your research before making a decision and don’t settle for something that doesn’t help you achieve your goals! To find out more feel free to reach out to us.

Introduction

Debt is a very common problem in Canada. It has become an epidemic that many people are dealing with on a daily basis. There are many ways to deal with your debt and we will help you decide which one works best for your situation.

Debt Consolidation

Debt consolidation is a great way to lower your monthly payments and get a lower interest rate. You can consolidate all your loans into one loan, which will help you pay off the debt faster. It’s important that you consolidate the right debts: personal loans, credit cards, and lines of credit should be consolidated into a low-interest card or line of credit because these are high-interest debts.

If you want to pay off your debt faster, then it may make sense for you to use debt consolidation as part of your strategy.

Bankruptcy

Bankruptcy is a legal process that allows you to get rid of your debts. It’s the last resort and should only be considered if other options have failed.

• What are the benefits of bankruptcy? It can relieve you from most or all of your debts.
• What are the drawbacks? It can have a negative impact on your credit score for up to 10 years after completing it. Additionally, during bankruptcy proceedings, creditors may try to recover money owed before they release any claims against you. This may mean additional costs and fees before the process is complete (and even afterwards). Finally, while bankruptcy itself doesn’t take very long—usually between 3-6 months—there will be some administrative steps required by both yourself and any creditors involved in order for everything to go smoothly (just like filing taxes).

Credit counselling

If you’re in a financial bind, credit counselling can help. Credit counsellors are trained professionals who can help you understand your options and make the best decisions for your personal financial situation. They’ll also provide advice on how to avoid future debt problems.

Credit counsellors are not:

• Debt management programs (DMPs). DMPs typically involve paying a company monthly fees in exchange for them negotiating with creditors on your behalf. While this may seem like a good way to deal with debt, it has its drawbacks—the most notable being that many DMPs charge extremely high fees and take 40% or more of what they collect from each creditor as commission, which means there’s less money left over for you after all the bills are paid off. In addition, by using one of these companies instead of negotiating directly with creditors yourself, chances increase that they won’t be able to get favourable terms—which could lead to further stress down the road when something goes wrong (like missed payments) because there’s no real relationship between you and your debt collector! Credit counselling is free; don’t waste money on unreliable services!
• Bankruptcy. If things get truly dire and bankruptcy seems like the only option left open before filing Chapter 7 or Chapter 13 bankruptcy papers then see our article What Is Bankruptcy? You might be surprised at how much better off financially speaking starting fresh under another name will pay off long term compared

Consumer proposal

A consumer proposal is a legal agreement between a debtor and their creditors. The debtor agrees to pay the creditors a fixed amount over a period of time, while the creditors agree to accept that payment and not pursue other legal action against you.

The proposal is filed with the courts, where it’s reviewed by an independent trustee who decides whether or not it should be accepted. If your proposal is accepted, interest on your debt will be reduced to 0%. The Balance owing is also reduced in most cases by up to 70%!

Coaching program

If you’re looking for a debt relief option that will help to improve your financial situation, coaching may be the right choice. Coaching programs offer support and guidance as you work towards getting out of debt by changing your spending habits, managing your money and making better choices with regard to purchases. These programs can also provide accountability, since coaches will often check in with their clients on a regular basis via phone calls or meetings.

Coaching is based on the idea that if you have someone to guide you through the process of achieving your goals, then it’s more likely to happen quickly and efficiently than if you were trying to do it alone. A coach can provide motivation when necessary and help keep things like motivation levels high by encouraging clients in their efforts towards reaching these goals. It also gives people who need extra encouragement or motivation an outlet for this sort of support without having to think about where else they might get it from (such as family members).

5 different services to help resolve debt issues, each one different in it’s own way. Please pick the one that is right for you.

We offer 5 different services to help resolve debt issues, each one different in it’s own way. Please pick the one that is right for you.

• Debt Consolidation: Debt consolidation is a process where multiple debts are combined into a single payment that is paid off over time. This process can be used with your current creditors or new ones (if they will accept), and can help lower the amount of interest you pay per month on your existing debts. It will not reduce the amount owed to creditors however, which means they will still require repayment even after this process has been completed successfully.
• Bankruptcy: Bankruptcy has been around as long as money itself but many people do not know what it actually entails so we have written an article explaining everything there is to know about filing bankruptcy in Canada if this option interests you! In short though, filing for bankruptcy allows individuals who are insolvent due to their inability to pay back debts due their financial situation with reasonable effort over a reasonable period of time (3 years) obtain relief from those obligations under certain circumstances such as unemployment or disability; financial hardship caused by illness; unforeseen life events such as divorce/separation etc…

Conclusion

We hope this article has helped you understand the different debt relief options available in Canada. If you have any questions or would like to talk about your personal situation, please contact our office at (888) 354-4706. If you are not ready to talk on the phone or in person Chat with Jennie at www.ccdr.ca We are here to help!