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Credit Canada Debt Solutions Guide COVID Update

If you are living in Canada and are looking for a debt solution, we can help. Do you owe more than $10,000 worth of debt? This is information you must know about. Continue reading to learn about these Canada debt solutions.

Whether it’s auto repairsshoppingtravelsmedications, or sometimes unforeseen life circumstances; most of us spend more than what we earn at some point in our lives. Often times we lose track of our finances and this could lead to more debt in the future. 

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

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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

 Common Types of Debt:

  • Credit Cards

Out of all debts and credit lines; credit cards are the one that has the highest interest rates. It’s too easy to fall into a debt trap with credit cards because of its ease of use and convenience to carry around when going out. It’s also known that credit cards have a lot of fees such as cash advance fees, late fees, over-limit fees, balance transfer fees, annual fees, and more. Once the interest charges accumulate, it becomes difficult for a person to pay off credit card debt.

  • Personal Loans

If you went on renovating your house or bought a car, chances are you have taken a personal loan. This type of loan can be applicable to anything but is very easy to turn into debt. Paying this type of loan not quickly enough can give you a huge headache as it can accumulate a good amount of interest if not paid soon.

  • Payday Loans

One of the most attractive types of loans you can take advantage of very easily. This is a type of short-term loan which offers a quick fix solution to your financial needs. The downside of this is you get an extraordinarily high fee. You should only apply for this loan if you don’t have any other alternatives.

  • Car Loans

Most of the time, car loans are secured with the vehicle you are purchasing hence the lending institution has the right to repossess the vehicle in the event you are not able to continue paying. Some car dealers will offer easy approvals but could hit you back with a very high-interest rate.

  • Tax Debt including CERB

Some tax debt loans may offer financial support to help keep the CRA away. Taking out a loan to cover your tax obligation may seem like a reliable solution, be aware; you are just temporarily enjoying debt relief. Like other loans, you will have to pay interests, and additional fees.

Canada Debt Solutions Options:

1. Counseling

If you are unsure about what are your options and what you can do to stop your debt from piling up, a financial counselor can help. You can seek debt counseling from various organizations or credit advice groups who can help you understand your situation and provide you the right advice.

All debt management and financial planning start with debt counseling. It is the right way to assess your situation, with the help of a specialist who sees your finances from an expert perspective so you can get reliable advice on how to go about it.

A financial counselor can provide you guidance on budgeting, financial planning, debt management, and laws that relate to having debt and its consequences. Talking to a financial counselor will not have an impact on your credit rating, nor your creditors will notice it.

2. Balance Transfer for Credit Cards

This is the most common solution if you are having multiple credit card debts and want to consolidate them into one. However, this solution will only transfer your debt to another credit card. If you find a better interest rate offer from another credit card company, this is the way to go. Some credit cards generate high-interest rates over time and could lead to more debt. Transferring your high-interest credit cards to a much lower one is a smart step in stopping a snowballing credit card debt.

Simplifying your credit card debt repayments can be considered a relief as well. Some banks will lure you into an offer giving you a very attractive 0% interest rate if you transfer your credit card debt. But this zero-percent promo is not permanent, this will last a maximum of 6-24 months.

You may feel relief by just paying the minimum monthly payments. This could sound great for a short period of time, that is why it is being encouraged that you should take this opportunity to spend less and pay as much as you can to pay off the debt before it starts incurring new interests.

3. Debt Consolidation (Best Debt Solution You Must Know About)

If you have over $10,000 worth of debt (Credit Cards, Personal Loans, Car Loans, Personal Taxes, CERB, HSTs, 407s, Household Bills, Payday Loan, Student Loan), you are eligible to reduce and eliminate your debt by up to 50%-75%. This is a government-approved program that will help you get out of debt fast and easily.

We will help you merge your debt into a single and affordable monthly payment. You only pay a fraction of what is originally owed making you debt-free in as fast as 12 months. Our team of professional debt consultants will create a personalized debt relief and consolidation plan based on your financial capacity and goals.

Speak to us now by clicking the button below to get a free consultation and learn more about our personalized 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.

No contact details required to find out if you qualify

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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

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We donate $1 for every consultation.

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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See What Our Customers Have To Say

Dawn Friesman
Dawn Friesman
20/09/2020
Verified
I've been working with Allicia Macdonald shes very professional and sweet. I cant thank her enough for helping me rebuild my life. Thank you so much.
Chantal Rolfe
Chantal Rolfe
18/09/2020
Verified
Today I had a wonderful experience with Rachael, she was Very professional I was very happy with what we talked about today she was very Caring I highly recommend national debt relief services hundred percent😃
Jennifer Magill
Jennifer Magill
18/09/2020
Verified
Brittany was awesome, she explained everything clearly and offered solutions every step of the way. It’s always nice to hear that you could do this or that, I didn’t feel forced to do anything and was able to decide clearly. Thank you 🙏🏼
Dave Tonnos
Dave Tonnos
18/09/2020
Verified
This company will work with you and through any difficulties that may arise. They actually hold themselves accountable, how refreshing during troubling economic times.
marian kamara
marian kamara
18/09/2020
Verified
I have a great experience working with Suma, she work me through the program, takes her time to explain everything to me about how the program work, what I need to do from start to end of the process. I’m so thankful to God for sending an angel Suma to help relief my debt. It’s a great company to work with. I will recommend this program for anyone in debt like me.
Donna Hutchings
Donna Hutchings
18/09/2020
Verified
Connie B. was absolutely awesome! She explained everything in detail to me. Very professional to work with and takes the time with you. She really has compassion. So glad she helped me out. Thank you
lynn collins
lynn collins
18/09/2020
Verified
Joel has made this so simple and effortless he made sure i was well informed and making the right decisions for my situation i would recommend joel at national dept Relief to anyone in hardship with there bills thanks alot joel i really appreciate everything you have done for me thanks!! 5 stars for sure! and its chad ball not my mom lynn lol
Billy Bong
Billy Bong
17/09/2020
Verified
I had a great experience with Brittany, so helpful and understanding. Never felt like I was being pressured or rushed into anything. She was always there with answers to my questions. Thanks for all the help and peace of mind you helped me achieve.
Amber-lyn Miller
Amber-lyn Miller
17/09/2020
Verified
Let’s Just Put It Simple....... Not All Hero's Wear Caps........I spoke with Suma over a fairly lengthy period of time because of my busy schedule and lack of free time on my part, and she was not only extremely patient and understanding, but also beyond helpful And informative. Any question I had and no matter how many times she had to explain it to me she took her time to make sure I completely understood every single step and process before she moved on to the next thing. I have been so stressed out and worked up about my debt and trying to figure out how to fix it all since I know I will not be returning to work at all in the future because of medical issues and being 26 with that realization makes things just that more stressful but Suma made everything so easy and my payments are $100 a month for less then 5 years with no interest or penalties for early pay off. I’m so glad that I didn’t settle with some other place that was asking for $350 + a month for 7-12 years and paying off early would cost you more.
Jessica Preston
Jessica Preston
17/09/2020
Verified
Caroline F. was phenomenal, she was so helpful, understanding and compassionate. Caroline did not make me feel bad for my mistakes, she was supportive and caring, she helped me through this dark time in my life I'm so incredibly happy I crossed paths with her. Thank you Caroline for being so wonderful to me! <3

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