Consolidating Credit & Debt Payments, New Westminster, BC Credit Counselling Services, Programs and Options | Canada
Are you looking for credit consolidation solutions in New Westminster to get rid of your debt and money worries?
Exploring consolidation options that reduce or eliminate interest on your credit cards and debts will help you get back on track with one affordable monthly payment.
Free credit counselling services are available in New Westminster, BC to help you find debt repayment solutions and alternatives to bankruptcy.
Credit Counselling Services Assist with Credit Consolidation & Bill Payments
Even if in the past you’ve consolidated debt, credit counselling services provided by a reputable, Canadian, non-profit agency like the Credit Counselling Society can help you. Dealing with debt is stressful, but a qualified Credit Counsellor can make it easier.
|Global News interviews Julia Fletcher
after she consolidates and pays off
her debt with help from the
Credit Counselling Society.
Watch the News Segment
|CTV uncovers how Dan Robinson
paid off $30,000 in debt with no
interest with the assistance of
the Credit Counselling Society.
See the News Story
Your Counsellor will review your whole situation with you during a free, confidential appointment. They will look at your budget and expenses, the debts you have, and what you hope to achieve in the future. By reviewing your whole financial picture with you, they will come up with options so that you can deal with your debts.
Contact us now to make an appointment, or read on for more information.
Debt Solutions, Explained by a Credit Counsellor
There are several options for credit consolidation in Canada that can be explored with the help of a non-profit credit counselling services. Most of these options are typically not provided by banks, credit unions and other lenders.
Debt Repayment Program to Consolidate Credit & Debt Payments
Canadian credit counselling services, like our non-profit Society, nomoredebts.org, offer a debt management program. Getting back in control of your money is easier with our debt management program because it is based on your budget.
A debt management program might be one solution to think about. It depends on your assets, the kind of debts you owe, and how much is left in your budget for debt payments. Not all of your money can go to repaying your debt; you still need a reasonable lifestyle.
A debt management program arranged by the Credit Counselling Society is supported by your creditors. Your creditors will accept reduced payments and most of them will waive or substantially reduce ongoing interest charges while you make your payments. This saves you thousands of dollars.
If consolidating your payments through a debt management program is an option for you, your Credit Counsellor will explain exactly how it works.
Debt Consolidation Loans
Your Credit Counsellor will give you information about why a loan may or may not work for you, and what to do if you think you might have trouble making the payments.
Borrowing more money to pay off what you already owe on your credit cards and unsecured debts might sound like a good idea, but for some people, it just gets them further into debt. Based on your credit rating, your lender may be able to offer you a consolidation loan. Either with the help of a co-signer, or not, this would let you pay off your other debts.
The best way to make a debt consolidation loan work for you is to have a budget first. Then you’ll know if you can afford the payments and still set money aside to pay for unexpected expenses that would have gone on your credit card in the past.
Settling Your Debts
Settling debt for less than what you owe is an option if you have a lump sum of money available to offer your creditors.
When you settle your debts, you are offering to pay less than what you owe. In return, you are asking your creditors to write off anything left owing. In some circumstances, this makes sense. However, offering your creditors a settlement to avoid making payments when you can actually afford them, won’t work.
If a debt settlement is a good option for you, your Debt Counsellor will tell you what you need to know about the process. That way you can consider the implications carefully before you make your decision. Any settlement requires a lump sum of money, so that means that you might have to sell some of your assets, take money out of an investment, or talk to family and friends to see how they can help.
Legal Solutions for Debt in Canada
Sometimes legal solutions for debt are needed. The Bankruptcy and Insolvency Act governs legal debt solutions in Canada.
Resolving your debts with the help of the Courts may be your best option. This will depend on what you owe, the nature of your debts, what you own and where you live. Both legal debt resolutions – Consumer Proposals and bankruptcies, are offered through licensed trustees.
After you’ve gotten some help with your budget from your Credit and Debt Counsellor, and better understand where you stand financially, an appointment with a trustee in your area might be a good option for you. While bankruptcy should never be the first thing you consider, a Consumer Proposal allows you to repay part of what you owe over a period of 2 – 5 years.
To learn more about Consumer Proposals, contact a trustee, or click here.
For more information about bankruptcy alternatives, click here.
Credit Counselling Services in New Westminster, BC Can Help You to Consolidate Credit
To find out how credit consolidation and credit counselling services and options in New Westminster, BC can help you deal with your debts, contact us now by phone, anonymous online chat, or by email. We will answer your questions and make a no-obligation, free, confidential appointment for you to speak with one of our qualified, friendly Credit Counsellors.
You’ll feel better and have less stress once you know what you can do about your debt and money problems. There is a solution to being in debt, and it starts with looking at your options. Contact us now at 604-527-8999. We’re happy to help you.
New Westminster Office
Suite 400 - 88 Six Street
New Westminster, BC V3L 5B3