Dealing with debt is tough. We can help you break the cycle of debt and solve your debt problems with the right debt relief strategy. There are many available options, but the right one for you depends on your unique situation. Let us help you find it.
Credit counselling is a process that helps people deal with their debts through budgeting, education, and other strategies. The goal is to reduce and eventually eliminate debt.
A debt consolidation loan is designed to bring all your loans into one single payment. If done correctly, debt consolidation can save you money in interest.
A debt consolidation loan can include many types of debts, but each loan is different. You will need to confirm which specific debts you’ll be able to pay off with the loan provider.
The debt settlement process involves negotiating with your creditors and offering them a lump sum to eliminate your debts. Creditors are not required to work with a debt settlement company.
In general, unsecured debts can be included in a debt settlement. This includes credit card debts, lines of credit, payday loans, and other such debts. Government student loans and tax debts cannot usually be included, nor can secured debts like car loans and mortgages.
Costs of debt settlement are not regulated. Most debt settlement companies operate for-profit and charge fees for their services. You may be required to pay upfront fees in addition to monthly fees. You may still have to pay even if your creditors do not agree to the settlement.
Each person’s financial situation is unique. The debt relief option that is right for you will depend on several factors, including your income, how much debt you have, the assets you own, how much interest you are being charged, and many other aspects. A consultation with a Licensed Insolvency Trustee can help you make an informed choice to deal with your financial difficulties.
There are many different debt relief options available. A Licensed Insolvency Trustee can provide you with information and advice about the different options. Arranging a consultation with a trustee is an excellent way to learn more about how you can solve your debt problems.