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How To Handle Rejected Debt Consolidation In Canada

Looking for options and finding out that Debt Consolidation is the answer to your unsettling debt problems only to end up getting declined can be a nightmare.

Now, keep calm and re-strategize. You’ve done the first and the hardest step to debt elimination, and that is to identify a possible solution – Debt Consolidation. Odds may not be in your favor this time but don’t lose hope.

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

You will not get declined for no reason. In able to get approved, you should get at least 50% + 1 Vote from the creditors you have debts from. Getting rejected is very rare but what can be done if this happens?

Rejected Debt Consolidation Canada

These are things you can do if you get declined for Debt Consolidation:

1. Identify the reason.

The very first thing you can do is to know the possible reason why creditors would reject your proposal for debt consolidation.

Hand Debt Consolidation Rejection

Below are some of the reasons a debt consolidation is rejected:

  • Your creditors think your income is not sufficient to pay your debts.
  • You have too many debts.
  • Credit score is too low.

Your creditors may request changes to your debt consolidation offer and that is what you need to work on with a Debt Consolidation Agency in Canada.

2. Renegotiate your offer.

If the majority of your creditors voted to reject your proposal, that means they are not happy with what they are going to get.

Debt Consolidation Agency

Resubmit your proposal with negotiated reasonable amendments to increase the approval rate of your application.

Your creditors may request changes; the best way to do deal with this is with the help of a trusted Debt Consolidation Agency in Ontario who will do all the work for you.

3. Pursue credit counselling.

If you feel that debt consolidation is not the way to go, credit counseling can be your option. You may speak to a financial counselor to get guidance on budgeting and financial education to eliminate your debt on your own.

Ontario Debt Consolidation Program

A certified financial counselor can point you in the right direction and find a solution that works best for your situation.

With Debt Consolidation, you can always re-apply after getting rejected. The best way to get your application finally approved is to make sure that the proposal is reasonable in terms of what the creditors expect to receive.

Our team will help you create a personalized debt consolidation program through phone call or zoom. You don’t need to leave your home and risk your health and safety.

Our Clients 5-Star Reviews

Ethan Brown
Ethan Brown
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“Allicia provided me with a smooth and seamless transition into my debt free journey stress free, giving me peace of mind.This has allowed me to focus on building financial stability. I am thankful for Allicia’s consultation and service.”
Carolyn Quinlan
Carolyn Quinlan
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“Dawn she was very professional never showed any stress i had it all .lol She was so sweet and under standing.i recommend Dawn with all my heart ty Dawn!”
Jennifer Chenier
Jennifer Chenier
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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
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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.

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