Consolidation Credit Payment Solutions, Credit Counselling Services and Options in Victoria, BC | Canada
Are you looking for consolidation credit card payment solutions in Victoria 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 Victoria, BC to help you find debt repayment solutions and alternatives to bankruptcy.
How Credit Counselling Services Can Help You with Consolidating Debt Payments
Although before you might have consolidated debt, credit counselling services in Canada, offered by qualified Credit Counsellors at a well recognized and accredited non profit agency, like the Credit Counselling Society, can relieve your stress and money worries.
|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
By meeting with your Debt Counsellor for a free, confidential appointment, you’ll be able to share what’s going on in your life with someone who is trained to help you sort out your debts and get back on track. Your Counsellor will provide information and options to you after they know more about your budget, expenses, debts and goals for the future. Then it will be up to you to decide what you want to do.
Contact us now for an appointment, or see below for more information.
Solutions for Debt That a Credit Counsellor Can Explain to You
There are options for credit consolidationt that are available in Canada through non-profit credit counselling services which are not available through your bank, credit union or other lender.
Consolidating Credit & Debt Payments Through a Debt Management Program
Not-for-profit credit counselling services in Canada, such as the Credit Counselling Society, have a debt repayment program that is available to consumers. The program makes managing all of your expenses and debts easier because it is based on what you can afford, and all of your unsecured debt payments are consolidated.
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.
However, the best way to successfully use a consolidation loan to get rid of debt is to create a budget before you get the loan. This way you’ll know if you can afford the payments, along with the savings you need to set aside to pay for other unexpected expenses with cash instead of credit.
When you ask your creditors to accept a lump sum of money, in exchange for fully repaying what you owe, that is called a debt settlement.
Sometimes it makes sense to offer your creditors a reduced, one-time payment to get rid of your debts. But, if you can afford what you owe, your creditors won’t accept your settlement offer.
To come up with the money for a settlement, you may need to sell assets, cash in investments or borrow money from family or friends. If a debt settlement is a good option for you, your Credit Counsellor will explain it to you and answer your questions.
Legal Options in Canada for Dealing with Debt
The Bankruptcy and Insolvency Act may provide the legal debt relief you need, depending on what you owe and to whom, as well as where you live and how many assets you have.
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.
How to Get Help to Consolidate Credit with Credit Counselling Services in Victoria, BC
To find out how consolidating credit payments and credit counselling services and options in Victoria, 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 250-382-9559. We’re happy to help you.
Cook Medical Building
Suite 214 - 1175 Cook Street
Victoria, BC V8V 4A1