Where to Go for Debt Relief Help

When the faucet leaks, finding help is as easy as calling a plumber. For a flat tire, an auto service is the solution. Problems with debt? Those can be a little trickier to determine where to go for help. Many consumers think the first step to debt solutions is a financial institution where they can get more money. They don’t realize that there are financial advisors they can turn to who are on their side and can help them create a concrete and manageable plan for dealing with their debt.

Not many people know how to handle bad debt. There is a widely held misconception that debt can only be handled two ways: declare bankruptcy or win the lottery. Both are wrong. For consumers struggling with high interest payments, overextended debt, and empty savings accounts, we invite them to learn about the benefits of a consumer proposal. It is a way to manage debt that can avoid the negative consequences of bankruptcy with the convenience of easy payment plans.

Our financial experts are prepared to find personalized solutions for every debt situation. There is no one-size-fits-all answer to individual financial questions and circumstances. Our counselors and professionals know that to help lift a person out of debt, we need to address every case from a fresh perspective.

Bankruptcy is Just One Option

Too many debtors rush into bankruptcy thinking it is the only option for a clean financial slate. While insolvency does have the advantage of eliminating most debts, it is not always the best option for everyone. It carries long-term collateral effects and can remain as a negative mark on a credit record for years.

A debt-solution option that many consumers are surprised to learn about is called a consumer proposal and it has many benefits. It is a legally binding agreement between creditors and the debtor. The proposal is typically drawn up and arranged by a professional credit specialist.

The benefits of such an agreement include:

  • A short 5-year repayment term
  • Low costs
  • One of the safest options for debt relief
  • Begin rebuilding at the close of term

Because the agreement avoids bankruptcy and insolvency proceedings in court, there is no need for a lawyer. In addition, for certain groups who may struggle with debt — from young people to seniors — an alternative to insolvency is a welcome prospect.

For consumers who want to avoid court proceedings, public records, and the high costs of a lawyer to add to their already existing debts, learning about the benefits of a consumer proposal are worth the time and effort.

Financial Experts with Experience

Bankruptcy trustees can draft and execute a proposal to help anyone with debt relief. With extensive knowledge, established contacts, and the negotiation skills, we can find solutions to fit any debt situation. Instead of turning to a solution that may have detrimental effects, trust the experts to find solutions that make more sense.