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Canada Debt Consolidation Programs Guide – COVID Update

Are you $10,000 or more in debt? If so, you can be eligible for a Canada government-approved debt consolidation program to reduce your monthly payments without the risk of losing your assets.

COVID has made life difficult for Canadians, everyone felt the impact of the pandemic. Some lost their jobs, while other’s work-hours have been reduced. But what happens if you can’t keep up anymore and are really struggling financially with no one to ask help from.

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

Debt Consolidation Programs Guide

In this article, we will provide comprehensive information about the debt consolidation program in Canada and how it can help you eliminate debt even in these trying times.

Canada Debt Consolidation Program

This is a government-approved program that allows Canadians with over $10,000 worth of debt to merge their Credit Cards, Personal Loans, CERB, Car Loans, Taxes, HST, 407, Household Bills, Payday Loans, and Student Loan into one affordable, reduced monthly payment.

government-approved program

It is a legally binding agreement between debtors and creditors to repay only a portion of the debt while the rest is forgiven. The Canada Debt Consolidation program is a way of reducing or eliminating up to 50%-75% of what you owe through the help of a debt relief agency like us.

Click the below button to speak to a National Debt Relief Services consultant.

Be in Control of Your Finances Again

Having the ability to consolidate your debt is a huge relief. You will only need to keep track of one payment every month.

consolidate debt

Below are some of the best benefits a Canada Debt Consolidation Program can offer:

  • Stop Collection Calls
  • Stop Wage Garnishments
  • Stop Interest
  • Protect Your Assets
  • Stop Lawsuits
  • Chance to Improve Your Credit
  • Reduced Monthly Payment

Knowing the benefits of a Canada Debt Consolidation program is great, but it’s also important to consider the drawbacks of this program. This can help you in making the right decision in choosing the right debt solution for you.

right debt solution

All types of debt relief come with both advantages and disadvantages. Know that not all types of debt relief are for everyone, the things you need to know about this program are as follows:

Advantages:

  • Significantly reduce the amount of debt you owe to your creditors (on average, we are able to reduce debt substantially from 50% to 75%).
  • The most effective way of consolidating your debt if you don’t have the capacity to repay what you owe.
  • It will stop all active collections.
  • This is a great alternative if you don’t qualify for a balance transfer to consolidate your credit card debts.
  • Safely secure your assets compared to other types of debt relief options.
  • If you owe a huge student loan, it can serve as a fresh start.
  • CRA taxes can be included in this program such as CERB.

Disadvantages:

  • You can’t choose which debt to include in a Canada Debt Consolidation Program.
  • The majority of your creditors must approve or accept your application to qualify.
  • Some creditors may choose to reject your proposal, which means you need to offer them additional payments or convince them to proceed.
  • Your credit score will temporarily be at R7 Rating during the duration of the program.
  • Secured debts can’t be included in this government-approved Canada Debt Consolidation Program.

Choosing the Perfect Canada Debt Consolidation Company

Debt Consolidation Company

1. Talk to a legitimate company

National Debt Relief Services is a trusted debt and hardship relief company in Canada. We helped hundreds of Canadians get out of debt daily.

2. Don’t pay for Upfront Fees

We don’t charge upfront fees.

3. Get a Free Consultation

Talk to us to know more about how you can eliminate debt through this government-approved program, for free!.

4. Health and Safety

We understand how important your health and safety are to you and your family. We provide free consultation at a distance (via Phone Call, Zoom, or Email) so you don’t have to leave your home and put your family’s health at risk.

5. Strict Client Confidentiality

Your information is safe with us. All your communication is private and secured.

6. Deal with a 5-Star Rated Company

We are a 5-star rated company. Read our google reviews to find out more details on how we helped our customers deal with their debts.

Contact Us for More Information About Canada Debt Consolidation Program

Our Clients 5-Star Reviews

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
Katherina Preston
Katherina Preston
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"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
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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.
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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.

Why Trust National Debt Relief Services?

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