Debt Management is a Life Skill
Sky-high real estate, school loans, easily accessible credit cards and lines of credit. Against all of those are a rise in temporary and part-time jobs and unpredictable earnings. If you throw in a job loss or an unexpected illness into that equation, then it is no surprise why debt management becomes a problem for some people. Often it is nobody’s fault. Unsecured debt starts out unassumingly yet it can culminate in deep anxiety and stress.
Well before your debt gets out of control, and especially when you start suffering emotionally because of it, contact us. Contrary to popular belief, declaring bankruptcy is not the first and only answer to this problem. We can help you with a wide range of debt management solutions. And a consultation with our counsellors is completely free.
Our certified credit counsellors will review your financial situation before advising you of your options. We provide you with concrete solutions to pay off your debt. And then, we set you up with the skills to use credit wisely so you remain debt free for the rest of your life. Credit counselling can be a welcome relief for most people with debt management problems. Some individuals simply require a few sessions in financial literacy. And for others, we arm you with the tools to help you manage your household budget to keep your spending in line with your income.
Debt Management Plans are a viable solution for individuals in debt with multiple creditors. Dealing with the stress of whom to pay off first, while watching the interest mount on other bills, is simply no way to live. If your counsellor deems you to be a suitable candidate, enrolling in our proprietary Debt Management Plan allows us to negotiate with your creditors. We consolidate your debts and facilitate your monthly repayments to the creditors via one manageable amount. The best part? The interest on your individual debts stops accumulating, allowing you to catch up and see the light at the end of the tunnel.
Debt consolidation can solve a majority of debt management problems. However, your credit counsellor may refer more challenging cases to a Licensed Insolvency Trustee. An LIT is a federally certified professional authorized to manage proceedings under the Bankruptcy and Insolvency Act. Consumer Proposals and Bankruptcy are two legal options available to release you from your mounting debts. An LIT can advise you about these options and the consequences. As creditors stand to gain only a fraction of their original debt, the LIT acts as a mediator, shielding you from potential hostility while ensuring the creditors’ interests are properly represented.