To solve debt problems, you’ve got options. Choose wisely.
Debt solutions can be arrived at in a number of different ways.
You can deal with out-of-control debt by getting help from others who specialize in solving debt problems. Or you can seek other means, including taking action on your own. Either way, you should educate yourself and explore all possible debt solutions before moving forward (much of what you need to know is right here on this Web site).
First, understand that most personal money problems nowadays involve credit card debt, personal loans that can’t be managed, and other forms of debt that are unsecured (meaning there is no collateral, like a car, to back up the debt). For help from others with this kind of debt, your best option may be a non-profit credit counselling service like Credit Canada Debt Solutions, which offers something called a Debt Management Program and other services for financial well being.
Help from others also comes from companies offering something called “debt settlement programs.” It is said you pay a lot less through debt settlement programs, but it has been reported the programs do not always work as promised.
Now, there are a number of other steps you can take to reduce or eliminate debt. They include everything from consolidation loans and consumer proposals, to what is called the solution of last resort - bankruptcy.
All of these options – along with credit counselling and debt management programs - are discussed below and in other sections of this Web site.
Getting out of debt by managing money wisely.
Credit card debt may be getting you down. Maybe you’re way behind on payments for a personal loan. Could be a payday loan has even got you worried.
For these and other similar money problems you can get help to reduce debt and eliminate debt. Credit counselling services effectively deal with unwieldy credit card debt and other debt difficulties. The services are provided by highly qualified credit counsellors – also known as debt counsellors. They are experts in finding debt solutions. They will put you on a path to debt payments that you can afford.
Credit counsellors will:
- Organize a Debt Management Program that puts you in control of your money through a monthly payment process that’s simple.
- Work with your creditors to make your debt smaller and more practical (you make lower monthly payments and can get reduced interest on your debt).
- Teach you about managing a budget and setting financial goals so you can live life free of financial worry.
With the aid of a credit counsellor, you can beat debt for good.