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Free Debt Consolidation
No contact details required to find out if you qualify
No one wants to be in debt, but sometimes because of unforeseen circumstances we might find ourselves hard pressed to make our income sustain our basic needs, much less have enough to make bill payments as well.
If you find yourself struggling to make monthly payments for two or more creditors, you might want to look into debt relief. Luckily, there are three good Canadian debt relief options for you to consider.
Know more about us and what we can do by clicking on the button below…
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The first form of Canadian debt relief you should consider is debt consolidation. With debt consolidation, you consolidate the debt you have with multiple creditors and pay them off with one payment.
Debt consolidation requires you to take out what is known as a debt consolidation loan. For the purpose of paying off a number of existing debts instead of trying to figure out how to pay multiple creditors and keep track of multiple payment due dates. You just need to make one monthly payment to cover all your other debts
If you’re confident in your ability to allocate for and pay for the consolidation loan monthly dues on time, this sort of debt relief might just be the proper tool for you to become debt-free on a number of years.
In Canada, people seeking to get out of debt can turn to debt counseling or credit counseling companies. The professional credit counselors in these companies can help you develop a debt management or debt consolidation plan to allow you to pay off multiple debts quickly and easily.
If you decide to engage the services of a debt counseling company, they will pair you with a credit counselor who will take a look at your financial situation. The goal is to come up with a way to combine your different debt payments into one manageable monthly payment.
A debt management plan has a similar goal to a debt consolidation loan in the sense that it wants to save you from paying multiple monthly bills and instead, arrange it so you’re making one monthly payment only. In the case of a debt management plan, you will be making your payment to the debt counseling company who will in turn, forward those payments to your creditors for you.
Once your debt counselor has met with you and determined how much you can afford to pay your creditors monthly, they will meet with your creditors on your behalf and negotiate a payment plan that will suit your budget.
One big advantage in using a credit counselor is they can often make your monthly payments more affordable as they will try to get your creditors to lower the interest rate on your debt. With this negotiated rate and simplified payment method, many find themselves debt free within five years.
Debt settlement is another service that a debt counseling company can provide to Canadians who are looking for debt relief.
With debt settlement, you also will talk with a credit counselor to figure out how you can pay your creditors. However, the goal here is not to pay off all your debt but just pay off a certain manageable amount.
When you and your credit counselor figure out how much you can afford to pay your creditors, your counselor goes to them and negotiates to allow you to pay a certain percentage of your outstanding debt to settle the entire balance.
If a settlement is reached, your creditors will get some or most of their money back, and they will agree to no longer come after you for the remaining balance. The debt is “settled”.
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.
No contact details required to find out if you qualify
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.
SEE IF YOU QUALIFY TO:
No contact details required to find out if you qualify
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.
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