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2023 Post-Covid Pros and Cons Of Canadian Debt Consolidation

Debt consolidation is now becoming more popular in Canada due to its amazing benefits. It is a method of debt settlement option that is government-approved and has been receiving great feedback from clients who have already taken advantage of this debt relief option. In this article, you will learn the pros and cons of debt consolidation in Canada.

Know more about us and what we can do by clicking on the button below…

You're not alone

Helped with $ 27,000 $ 41,500 $ 35,000 $ 17,000 $ 23,500 $ 46,340 $ 21,000 $ 35,000 $ 26,700 $ 65,500 $ 57,400 $ 17,500 $ 75,500 $ 63,000 $ 35,000 $ 18,500 $ 55,000 $ 85,500 $ 43,000 $ 29,500 $ 27,800 $ 41,200 $ 35,800 $ 85,000 in debt

1 day 3 days 3 days 8 days 7 days 6 days 12 days 9 days 3 days 6 days 1 day 4 days 2 days 1 day 7 days 5 days 8 days 6 days 12 days 16 days 5 days 8 days 2 days 7 days ago in debt in

Orillia Huntsville Peterborough Toronto Brampton Kitchener Mississauga Hamilton Belleville Kingston Cornwall Oshawa Ajax St. Catharines London Sarnia Windsor Sault Ste. Marie Elliot Lake Sudbury North Bay Timmins Thunder Bay Ottawa

If you are looking for legitimate debt relief options in Canada, you are in the right place. At National Debt Relief Services, we value our clients’ time that is why we make sure that we provide the best debt relief option that suits your financial situation.

How to Qualify for Debt Consolidation in Canada

To qualify for this government-approved debt relief program, you must:

  • Have over $10,000 worth of unsecured debts.
  • Unable to pay your current debts.
  • Be a Canadian resident, or living in Canada.
    At least 18-year old.
  • Not having any open or uncompleted debt consolidation program.

Pros & Cons of Debt Consolidation Program in Canada

PROS

Easier Debt Repayments

We will help you merge your unsecured debts (Credit Cards, Personal Loans, Car Loans, Taxes, CERB, HST, 407, Household Bills, Payday Loans, and Student Loan) into a single debt which makes it easier for you to keep track of and pay monthly.

Reduced Debt/Lower Monthly Payment

Your debt will be reduced by up to 75%. National Debt Relief Services has built a good relationship with creditors over the years. That is why, with us you will get the best deal and enjoy great debt reduction if you let us negotiate with your creditors.

Stop Collection Calls

Once your debt consolidation program is approved, your creditors will no longer contact you about your debts. All creditors including collection agencies can’t collect payments from you and push you to pay your debts anymore because you now have a sound debt consolidation program that will enable you to settle the debt you owe to your creditors with much ease.

Avoid Wage Garnishment

Any active wage garnishment will be stopped. This means you’ll get your paycheck in full without any more deductions that are being directly paid to your creditors.

Stop Interests

All your interest from old debts will stop incurring new interest charges the moment you start your debt consolidation program.

Keep Your Assets

The best advantage of doing a debt consolidation program is you can keep your house or home equity. You just need to speak to the right people to help you deal with your debts.

CONS

Temporary Credit Rating Decline

There will be a note on your credit report that you are on a debt consolidation program. An R7 rating will be noted on your report for the duration of your program and another 3 years after completion.

Surrender Your Credit Cards

You will need to surrender your credit cards once you take advantage of the debt consolidation program.

Consequences When Missing a Payment

If you miss three consecutive months of payment on your debt consolidation program, it can lead to the annulment of the program.

Our Clients 5-Star Reviews

Jennifer Chenier
Jennifer Chenier
Read More
I was lost ... single mom... off due to Covid for 3 months .. did what it took to pay bills and look after my kids... and left with nothing but a tonne of debt I could not keep up with 😢. And then ....I met Connie.. Connie gave me my life back. The entire experience was like talking to my mother. She was full of compassion and knowledge and took me under her wing for this entire process. She turned tears into smiles and hope . She reassured me.. and made me feel like it was Going to be ok. I can’t thank her and the team (Paul) enough for helping me through this . I highly recommend National Debt Services to anyone looking for help with their debt . Start living again ❤️. Thanks Connie Jen
Katherina Preston
Katherina Preston
Read More
"So glad I finally had the courage to make the call" Suma was amazing.. she guided me through my options and got the answers to all my questions. By the end of our very first phone conversation I had hope again...finally...no more sleepless nights worrying my debt ....Thank you National Debt Relief Services
Chris V
Chris V
Read More
I would just like to thank Suma for really making feel comfortable throughout this entire process. Everyone tells you to watch out for gimmicks, quick fixes, and everything else that comes with Debt. Ive had other companies who had made promises and under delivered. However Suma and her team are quick to provide the right answers and guide everyone in a way towards better credit. She has made it seamless with great communication and availability. I have personally referred her to several of my closest friends and i would recommend her to anyone else looking for consolidation.
Previous
Next

Top 5 Key Benefits of our Ontario Debt Relief Program:

To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.

Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.

Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!

Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.

We will help you compare
the options and savings of all formal debt relief programs available to you.

SEE IF YOU QUALIFY TO:

No contact details required to find out if you qualify

Frequently Asked Questions

A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.

Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.

No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.

The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.

 

This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.

If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.

After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.

A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score. 

National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.

Why Trust National Debt Relief Services?

Debt relief program's accreditation logos
Council for Economic Education

Proud to support financial literacy education

See What Our Customers Have To Say

We Help Over 200+ Ontario Clients Per Day

We're here to help you consolidate your debt.

Get a free savings estimate today. There is no obligation.

Learn how to reduce your debt by 50-80% within 5-7 days

Free Debt Consolidation

No contact details required to find out if you qualify

Free Savings Estimate

Get Started

How it Works

Know More

Debt Relief Options

See Your Options

Ontario Government-Approved Debt Relief Program Your Ultimate Hack to a Debt-Free Future!

If you are living in Ontario and suffering from debt problems, you need to know this information now.

We helped thousands of Ontarians reduced their debts up to 75% with our personalized Debt Relief Program approved by the Ontario Government to help citizens get out of debt fast and in a secured way.

Know more about us and what we can do by clicking on the button below…

You're not alone

Helped with $ 27,000 $ 41,500 $ 35,000 $ 17,000 $ 23,500 $ 46,340 $ 21,000 $ 35,000 $ 26,700 $ 65,500 $ 57,400 $ 17,500 $ 75,500 $ 63,000 $ 35,000 $ 18,500 $ 55,000 $ 85,500 $ 43,000 $ 29,500 $ 27,800 $ 41,200 $ 35,800 $ 85,000 in debt

1 day 3 days 3 days 8 days 7 days 6 days 12 days 9 days 3 days 6 days 1 day 4 days 2 days 1 day 7 days 5 days 8 days 6 days 12 days 16 days 5 days 8 days 2 days 7 days ago in debt in

Orillia Huntsville Peterborough Toronto Brampton Kitchener Mississauga Hamilton Belleville Kingston Cornwall Oshawa Ajax St. Catharines London Sarnia Windsor Sault Ste. Marie Elliot Lake Sudbury North Bay Timmins Thunder Bay Ottawa

Ever felt that you are out of options or helpless about all these debts chasing you? We got you!

Our team of debt specialists will not only help you manage your debts (Credit Card Debts, Personal Loans, Car Loans, Taxes, HST, 407, Household Bills, Payday Loans) but also reduce it up to 75% for easier and faster repayments into one single monthly payment.

We are a team of expert debt specialists that provide FREE CONSULTATION to our clients. 

 No Risks. No Upfront Fees. No Haggles. No Interests.

How our Debt Relief Program works:

  1. Try our Free Debt Consolidation Calculator
  2. Talk to our Debt Specialists 
  3. We’ll do all the work
  4. Reduce your Payments up to 75% with a personalized Debt Relief Option
  5. Submit your Debt Consolidation Approval to your creditors
  6. Get Approved, guaranteed!
  7. Start paying your debt at a more affordable amount
  8. Be Debt-Free

 

Never miss this opportunity and choose our Ontario Government-Approved Debt Relief Program as your debt relief option. Stop all your debt worries, sleepless nights, harassing phone calls and take advantage of the benefits you can get from our Ontario Debt Relief Program.

 

Our Clients 5-Star Reviews

Jennifer Chenier
Jennifer Chenier
Read More
I was lost ... single mom... off due to Covid for 3 months .. did what it took to pay bills and look after my kids... and left with nothing but a tonne of debt I could not keep up with 😢. And then ....I met Connie.. Connie gave me my life back. The entire experience was like talking to my mother. She was full of compassion and knowledge and took me under her wing for this entire process. She turned tears into smiles and hope . She reassured me.. and made me feel like it was Going to be ok. I can’t thank her and the team (Paul) enough for helping me through this . I highly recommend National Debt Services to anyone looking for help with their debt . Start living again ❤️. Thanks Connie Jen
Katherina Preston
Katherina Preston
Read More
"So glad I finally had the courage to make the call" Suma was amazing.. she guided me through my options and got the answers to all my questions. By the end of our very first phone conversation I had hope again...finally...no more sleepless nights worrying my debt ....Thank you National Debt Relief Services
Chris V
Chris V
Read More
I would just like to thank Suma for really making feel comfortable throughout this entire process. Everyone tells you to watch out for gimmicks, quick fixes, and everything else that comes with Debt. Ive had other companies who had made promises and under delivered. However Suma and her team are quick to provide the right answers and guide everyone in a way towards better credit. She has made it seamless with great communication and availability. I have personally referred her to several of my closest friends and i would recommend her to anyone else looking for consolidation.
Previous
Next

Top 5 Key Benefits of our Ontario Debt Relief Program:

To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.

Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.

Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!

Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.

We will help you compare
the options and savings of all formal debt relief programs available to you.

SEE IF YOU QUALIFY TO:

No contact details required to find out if you qualify

Frequently Asked Questions

A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.

Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.

No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.

The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.

 

This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.

If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.

After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.

A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score. 

National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.

Why Trust National Debt Relief Services?

Debt relief program's accreditation logos
Council for Economic Education

Proud to support financial literacy education

See What Our Customers Have To Say

We Help Over 200+ Ontario Clients Per Day

We're here to help you consolidate your debt.

Get a free savings estimate today. There is no obligation.