The solution you’re seeking can be debt consolidation. Do you find it difficult to remember your bills and their associated payments?
In the modern world, the majority of people accumulate a considerable amount of debt to pay for necessities and luxuries whenever and wherever their current income is insufficient to meet the cost.
Financial conditions are becoming more restrictive as Canada’s economy is contracting at an abnormally rapid rate.
There has been a reduction in debt levels in the first quarter of this year in comparison with the fourth quarter of last year, according to Statistics Canada.
Debt consolidation is one of the debt relief options in Canada available for you if you want to recover your financial freedom.
To make ends meet, many Canadians have taken advantage of CERB and payment deferrals. It was a tough year (2020) for the majority of Canadian households due to the impact the COVID-19 pandemic has brought on everyone.
We understand that you will be asking a number of questions before you decide to apply for a government-approved debt consolidation program. First on the list would most probably be “whether you can apply for credit or not” during the period of the program. Others also might want to know “will I still be able to use my credit card” under a debt consolidation program or “will my credit be affected?”.
Learning and accepting you have a debt problem is the first step towards solving your debt problems. Below are warning signs that you should check out to know if you are experiencing problems with your debts and what options are there to solve them.
It’s taxation time, Canadians are starting to seek advice, guidance, and solutions on how to manage different types of consumer debts including money owed from the federal and provincial government. CERB debt repayment can be one on your list and the earlier you seek a solution, the better prepared you can be.
Garnishment or wage garnishment is a process of legally withholding a portion of your money from your paycheque and sent to a third party.