In Canada, one of the options available to provide debt relief is debt consolidation.
Debt consolidation simplifies the process of paying off multiple sources of debt by consolidating them into one monthly payment. There are several debt consolidation programs available in Canada that can help people pay their debts.
Are you struggling to pay what you owe? Is your debt balance not coming down? Do you owe more than $10,000 worth of debts? You must be thinking of taking a debt consolidation program but would like to know what happens before, during, and after. Read on, and this article will explain to you what to expect during this process.
Due to the effects of the COVID-19 Pandemic, the debt-to-income ratio in Canadian households has been on the rise since 2020.
It is a government-approved program which gives you the option to off all your debts with a single loan. You will have a single debt to pay off all other debts at a lower interest. This means you’ll only be making a single payment every month.
Are you feeling the burden of having a huge debt? Are you unsure of what to do to get back on track and control your finances? If you are looking for a solution to eliminate your debt, credit counseling can help you find the answers to your questions. We will break down what credit counseling services are and how it works in Canada.
Canada Revenue Agency (CRA) is a strong and powerful government agency that administers taxes in Canadian provinces and territories. The power that CRA has to execute debt collection is intimidating, it includes freezing of bank accounts, wage garnishments, and worst – taking possession of your assets.
To achieve financial freedom is not an easy thing to do, especially if you have mounting debt. Understanding the best debt relief options in Canada can be your first step. Below are tips, strategies, and options to help you choose the best debt relief available.
If you are struggling with debt in Canada, don’t despair. There are a number of very efficient debt relief programs offered by debt consulting companies that can help people meet their financial obligations and achieve a debt-free life.
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.
One of the most common ways that people unwittingly fall into debt is through improper use of credit cards.