How can you find debt relief?

Saturday, May 30, 2020 - 13:13

Bankruptcy, Consolidation Loans

Debt relief is your chance to put your financial problems behind you. For too many Canadians, debt has become a way of life. Too much debt can lead to high levels of stress. It can even impact your future.

If you’re wondering how to find relief, we can help!

We are licensed by the federal government and allowed by law to offer all the possible solutions for resolving debt, including a Consumer Proposal. We can show you what you might be able to save by finding you the best solution for resolving your debt.

There are many different options for people who have too much debt. So how do you know which one is right for you?

Talking to an LIT is a good first step. An LIT will take the time to understand your financial profile so they can find and apply the best solution for your individual case. 

Additionally, there are a number of reasons why Canadians find themselves with too much debt and LITs can help because they understand these reasons — they’ve seen many people just like yourself who have been in the same situation! It all starts with a conversation in person or on the phone (during COVID-19, all meeings are done over the phone).

Basically, there are three routes to financial freedom.

1. Consumer Proposals

A consumer proposal can only be submitted by a Licensed Insolvency Trustee (LIT). They’ll negotiate with your creditors and work hard to to get you the best possible savings. Finally, you can look forward to financial freedom, once the full settlement amount has been paid with your creditors.

2. Credit Counselling

Credit counselling is just one of several solutions to having too much debt. It’s not always the best answer for everyone. But it is the best way to learn how to manage your money, so you don’t go further into debt. It may even be a pathway toward gradually reducing your debt over the long term.

In a credit counselling program, you’ll learn ways to stick to a budget so you can work to reduce your debt. You’ll also learn how to use credit cards more wisely.

3. Personal Bankruptcy

Personal Bankruptcy is typically considered an option of last resort, but sometimes it’s simply the right way to proceed. Most people don’t fully understand how bankruptcy works. But we can answer all your questions and work with you to find out whether it’s the right solution for you.

Everyone wants to regain their financial footing. But not everyone benefits from a one-size-fits-all solution. The smartest way to manage your debt is to talk to someone who understands debt. Someone knowledgeable and skilled in explaining personalized debt relief information for today’s Canadians.

Book a free consultation with an LIT at Welker & Associates today. We will be able to review all options with you to start your way on a debt-free life. 

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