CREDIT COUNSELING SERVICES, DEBT CONSULTANT & DEBT ADVICE
If you are looking for credit counselling services, a debt consultant or just professional debt advice for your financial problem, you are not alone. Each year, many people find themselves drowning in stress caused by a growing debt crisis, which can affect their daily living and relationship with others.
In the last 12-month period ending in January 2020, there were 54,217 bankruptcy filings for people in Canada. Additionally, 84,017 people filed for consumer proposals. According to Equifax, the average debt per consumer was $72,950 and the end of 2019. Non- mortgage debt such as credit cards, loans and lines of credit was $23,000 on average.
Interest rates are currently low in Ontario. However, an increase in interest rates would significantly impact an individual’s ability to meet their financial obligations.
Many individuals seek advice from a debt consultant or a credit consultant to acquire credit counselling services. There is often confusion between credit counselling companies and debt counselling companies so be sure to investigate their services carefully and keep in mind there are many advisors that simply refer you to a trustee. If you find yourself constantly worrying about how to make ends meet, from one month to the next, then you should consider talking to a debt relief professional like a Trustee in Bankruptcy.
How much does Debt Counseling or Credit Counseling Cost?
Along with other services, the fees will differ in every company. However, the fees for trustees are regulated by the government and the first consultation is always free.
Credit Counseling Services
You could go to credit counseling companies, seek a consolidation loan or seek the advice of numerous debt counseling services however only a trustee in bankruptcy has the ability to outline all the alternatives available to you and the legal consequences of each option.
Shopping around for a consolidation loan in many cases will significantly lower your credit rating as each company that runs a credit check will have a negative impact on your credit rating. Most companies that offer consolidation loans make their money by selling a loan agreement. On the other hand, a trustee is working with you to help you identify the best option for your situation.
Credit Counselling Summary and Debt Relief Options
Consulting with a trustee does not mean that you are obligated to file for bankruptcy. In fact, they will review all your options including consolidation loans, informal proposals, credit counselling, consumer proposals and personal bankruptcy. It is critical that a debt counselor or credit counseling company provide you with all the available options.
While it is important to understand the main circumstance that started the accumulation of debt, it is more important to set in place guidelines to prevent the event from reoccurring. Therefore, not only should your counselor identify the options available to you, but they should also help you to put measures in place to prevent problems from resurfacing in the future.
We understand that no one likes to talk about their financial situation. Most people that come through our door are good people that have found themselves in financial trouble. They are stressed out about not having enough money to pay their monthly obligations and see their situation getting worse with each passing month.
A call to our office will likely be the most stress-relieving call you will ever make. We have helped thousands of people like you to reduce their stress and get financial relief. Our debt counselors/credit counselors are compassionate and caring and guide you through the various options.
The initial consultation is free and we offer after-hours appointments for your convenience. We have offices across the Greater Toronto Area (GTA).
Do not let your debt continue to build month after month. I encourage you to give us a call for a debt consultant, credit counselling services, or professional debt advice in Toronto to review your debt relief options.