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Debt Reduction Services Canada Guide COVID 2022

When debt gets out of control – it affects your emotional and physical health. There are debt reduction services that you can explore along with do-it-yourself ways to reduce your debt.

Having multiple debts, be it Credit Cards, Personal Loans, Car Loans, Taxes, HST, 407, Household Bills, Payday Loans, and Student Loan; you can deal with it the same way – one step at a time.

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

Sick Kids

We donate $1 for every client that is eligible.

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

Canada Debt Reduction

Here is a guide on debt reduction services in Canada and how you can reduce your debt on your own thru proven methods.

How Debts Affect Your Health and Why You Should Explore Debt Reduction Service?

Debt Reduction Service

According to a study in the UK, huge household debt is linked to poorer general health and lower life expectancy. That means the longer the debt is, the longer the stress an individual can suffer. When your mental, emotional, or physical health is constantly affected by stress, it’s harder for you to prevent other illnesses, or it can take longer for you to recover.

Click on this link to read the full report about the effects of debt to your health.

During this time of COVID-19 Pandemic, your health should be your priority. Therefore, anything affecting your health should be immediately addressed, one of which is debt. We are going to go thru ways to successfully reduce debt and know your government-approved debt reduction services in Canada.

Easy Debt Reduction Methods That You Can Do

1. Organize Your Finances

Organize Your Finances

There are different types of debt but not all affect your finances:

Types of debts that can be reduced:

  • Credit Cards
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • CERB

To determine what type of debt is making the biggest impact on your finances, gather all your recent statement-of-accounts from all your creditors.

Find which debt is costing you the most by knowing which debt has the highest minimum monthly payments and interest rates. This information is very important for you to perform other methods successfully.

2. Cut Down Expenses and Aggressively Pay Down Debt

Pay Down Debt

After seeing where your money is going, it’s about time to start cutting – start with the monthly spending that is not important. This debt reduction method can also help you save money and be able to pay extra towards your debt.

If you have old subscriptions or memberships that aren’t needed, you must have them suspended or canceled to save monthly. Overspending on dining, house cleaning, and clothing must be avoided.

Once you have determined what to cut down, use the money you will save to pay more than the minimum monthly payments to aggressively pay off your debt and be debt-free sooner.

3. Prioritize High-Interest Debt (Avalanche Method)

High-Interest Debt

With this debt reduction strategy, you’ll pay-off your high-interest rate debts first to the lowest. You’ll basically have to put all your extra money towards the account that has the highest interest rates among all your debts.

Once the debt with the highest interest rate is paid off, you start paying down the second next highest interest rate. Every time a debt is paid off, you’ll have more money each month that you can use to pay off the next highest interest rate debt. Continue to do this process until all your debt is paid off.

4. Pay-off Smallest Balance First (Snowball Method)

Pay-off Smallest Balance

As opposed to the avalanche method, with the snowball method – you will pay off your debt in order from the least balance to the largest balance regardless of the interest rate.

Most people will love this type of debt reduction method because you start seeing success earlier thru getting rid of lowest balance debt first. Once the smallest balance is paid off, you aim for the next smallest balance. This method could help improve your credit score especially if you take care of credit card debts first.

5. Balance Transfers with 0% Interest

0% Interest

If you have multiple credit card debt, do a balance transfer of all your high-interest rate credit cards to the one with the lowest interest rate. This can help you spend less money on interest over time.

Some banks will offer you a 0% interest rate as an introductory offer in a period of 6-12 months sometimes 18 months. This is your chance to pay off your credit card balance without incurring additional interest charges.

Debt Reduction Services in Canada

Create Your Personalized Debt Reduction Plan

Debt Reduction Services in Canada

Speak to a trusted debt relief service provider like us. Our team is dedicated to help you with your debt reduction goal and ultimately to eliminate your debt. With our government-approved debt reduction program, we can reduce your debt by up to 50%-75%.

Our team has proven great results when it comes to debt reduction services and debt elimination. Please read thru our hundreds of 5-star google reviews at this link to learn more.

This program will also include:

  • Stopping Wage Garnishment
  • Stopping Collection Calls
  • Stopping Interests
  • Stopping Lawsuits

 

We offer Free Consultation to anyone who have over $10,000 worth of debt from the following:

  • Credit Cards
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • CERB

With every successful 15-minute consultation, we donate $1 to Sick Kids in Ontario. This is our way of giving back to the community.

 

We understand COVID is still a threat, don’t worry you don’t need to leave your home to discuss your options. Our free consultation can be done thru phone calls or zoom.

Click the button below to start your easy debt reduction plan and journey to a better future.

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

Sick Kids

We donate $1 for every client that is eligible.

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

Sick Kids

We donate $1 for every client that is eligible.

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
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See What Our Customers Have To Say

Dawn Friesman
Dawn Friesman
20/09/2020
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
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
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
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
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
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
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
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
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
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

Plus we give back with every customer.

Sick Kids

We donate $1 for every client that is eligible.

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.

Sick Kids

We donate $1 for every client that is eligible.