What to Do If You Have Too Much Debt
If your credit card payments have gotten out of hand or you owe more than you can realistically repay, there are debt relief options that might help. If you have debts that have gone to collections, there are things you’ll want to know that make it easier to deal with your creditors. While there is no one solution that works best for everyone, there will be a solution that works best for you. Before committing to any option, do your research and get professional opinions from several sources – especially if you’re considering a consumer proposal or bankruptcy. One professional opinion to get is that of a non-profit credit counsellor. A non-profit credit counsellor can help you review your situation for free and isn’t paid a commission to push you towards any one specific option. Set up a free and confidential appointment by calling 1-888-527-8999.
Here’s a tip that will save you a lot of stress: if you do start a debt repayment plan, don’t look at your credit score until the program is finished. Most effective plans will actually cause your score to drop or change erratically while in progress. This is because the process is a lot like surgery, expect for your credit. It won’t look pretty while it’s happening, but once successfully completed, the good results will show.
Tips to Pay Debt Faster
A fatal flaw when paying off debt and bills is forgetting to budget. Here’s why and what to do instead.
A breakdown of categories for your budget and how much to spend on each type of expense.
Are you curious about what credit counselling is or how it works? Here’s what you need to know.