About Debt Relief
When it comes to debt relief, you have many options that you may qualify for. When it comes to debt relief, your options include debt settlement, debt consolidation, debt management, consumer proposal, or bankruptcy. It is recommended that you make a decision on which program to enrolly after a thorough review of you financial situation with a debt advisor.
A Debt Settlement Program is actually quite simple. A certified financial counselor will conduct a confidential, initial consultation. During this consultation, they will review your total debt load, current monthly payments, income, expenses, and other information to determine your financial situation. At that point, your counselor will review your different debt relief options, which may include debt settlement, credit counselling / debt management, consumer proposal, and bankruptcy. If you decide to enroll in a debt settlement program you will begin making payments into a special purpose account. When that account has sufficient funds in it, a team of negotiators will begin working with your creditors to arrange a lump sum payment for less than the balance owed. The amount of the reduction varies from client to client and there is no guarantee that a creditor will accept a settlement, however, creditors realize that if a client files for bankruptcy, they may not receive any payment at all. Once a settlement is reached and the creditor has been paid, you will receive a written notice from the creditor that they have accepted your payment, and you have no further obligations to them.
When you call in or fill out the form, you will be connected with a licensed debt relief provider in your province that can answer all your questions and put you back on the road to financial freedom.