100+ Canadians Choose Us Weekly – 1000+ All 5-Star Reviews – Read real stories here
Menu
Click here to read reviews please
100+ Canadians Choose Us Weekly – 1000+ All 5-Star Reviews – Read real stories here
Free Debt Consolidation
No contact details required to find out if you qualify
Understanding how COVID-19’s negative effect on an individual’s finances, especially consumer debt is vital in dealing with the pandemic. Undoubtedly, COVID-19 made a substantial impact on Canadian households, and most people are continuously dealing with the effects of this until today.
If you are one of the people directly affected by the pandemic, consider reading this article to determine what you can do to manage it. Do you need help in dealing with swelling consumer debt due to COVID-19? You are not alone! We can help legally and in the easiest way. Click the button below to learn more information.
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
Below are some of the most common effects of the pandemic that impacts consumer debts:
All these caused a domino effect which eventually leads to debt or inability to pay the debt.
Since people had no income coming in, credit cards were used as a backup to spend/buy essentials. People were more focused on addressing their daily food and essential needs and just thought about debt later. Debt was not a priority, and this led to growing debt overtime.
Job loss or reduced working hours have a domino effect, which ultimately affects people’s ability to pay for their housing, the most expensive monthly cost a family will endure.
Trying to keep a roof over one’s head has become one of Canadians’ most significant financial stress during these most trying times.
COVID-19 is still a threat to all Canadians’ health and safety, and the following are government programs and personal debt relief Ontario options that citizens can take advantage of.
Since the beginning of the pandemic, the Canadian Government introduced support programs to help those who are most in need and vulnerable to the impact of COVID-19. Below are available programs for Canadians who are struggling financially.
Homeowners who are struggling financially due to the COVID-19 pandemic may be eligible for mortgage payment deferral. This is an agreement between a lender and homeowner to suspend or delay mortgage payment for a certain period.
To determine whether you are eligible for the mortgage payment deferral, contact your bank or mortgage specialist.
If you feel that you will not be able to pay your monthly obligation towards your loan or credit card payment, it is best to contact your creditor.
Lastly, you may also ask for a payment deferral so you can skip a couple of payments to give you breathing room.
If you owe more than $10,000 worth of consumer debt as a result of the COVID-19 pandemic, you have an option to take advantage of a debt consolidation program. This program will help consolidate all unsecured debt into a single monthly payment and reduce your debt by up to 75%.
Benefits of this program include:
We can help you get a debt consolidation program. Our clients are happy and satisfied with our service:
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.
Proud to support financial literacy education
Get a free savings estimate today. There is no obligation.
Copyright © 2019-2024. NationalDebtRelief.ca. All Rights Reserved
100% Canadian Owned & Operated.
