credit counselling
Debt Management Plans Explained
A Debt Management Plan (sometimes referred to as a debt management program) is often used by people who have a lot of debt and feel like they will never be able to pay it off. A debt management plan is an agreement between you and your creditors to pay back your debts over a period…
Read MoreNew Payday Loans Rules as of January 2018
If your finances are strained, a payday loan may solve an immediate need, but, their cost will take more money out of an already strained situation and, over time, make your situation worse.
Read MoreReset and Restart: Personal Bankruptcy and the Relief from the Stress of Unmanageable Debt in Canada
Personal Bankruptcy is the last choice for most individuals but it is good that this process is available because, without it, there might be no relief from the stress of unmanageable debt.
Read MoreConsumer Proposal vs. Credit Counselling?
With all of the choices facing financially distressed consumers, it’s important to compare your options. The most common options are a Consumer Proposal only available through a Licensed Insolvency Trustee or a Debt Management/Repayment Plan offered by credit counselling agencies.
Read MoreFinancial Warning Signs
Most of us can sense impending financial trouble but we tend to shy away from seeking professional help out of embarrassment or fear of being judged. Licenced Insolvency Trustees and debt counsellors are there to help and should be able to provide you with financial counselling in a non-judgmental and professional manner. The information they provide should help you better understand your financial situation and the options and resources that are in place to assist you. This will allow you to make the best possible decision to resolve your financial concerns.
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