What is the cost of the service?  questions about debt consolidation and management

All consultations are completely free to determine what consolidation option works best for you. As with all Credit Counselling/Debt Management organizations, we do have a small monthly “fee for service”. However, it is quite nominal and is offset with the amount you will be saving in interest and service charges being eliminated or reduced from your creditors. Keep in mind, you will be “debt free” in 5 years or less, substantially less than the 25 – 35 years the credit card companies state on their statements. Imagine the savings.

 

What are my options to consolidate my debt?

This article explains the six options available to pay off your debt sooner.

 

What is Unsecured Debt?

Unsecured debt includes Credit Cards, Overdrafts, Lines of Credits, Payday Loans, Department Store, Old Utility/Cell phone bills, any items past due or in collections.

 

Can I include my Mortgage/Car payment in the program?

No. They are referred to as secured loans and if the monthly payments are not made as prescribed in the loan documents the lending company will begin foreclosure or re-possession action. Not a good thing to have happen. You will want to keep making these payments as is which we will include in your monthly budget.

 

Can I include Payday Loans in the Debt Plans?

Yes. We can include all unsecured debt such as Credit Cards, Overdrafts, Lines of Credits, Payday Loans, Department Store Cards and any bill in Collections or old utility bills that you are not using anymore. At times we can include Revenue Canada debt and Student Loans.

 

What happens to my Credit Rating?

Without getting too technical, your credit rating is a record of your bill paying history. If you have been late or missed monthly payments on your credit cards or unsecured loans, it has been reflected on your credit report. Because creditors are going to give you relief on the monthly payment and monthly interest charges, they report this to the “credit bureaus” who adjust your credit rating accordingly. Visit What is a Credit Score? to learn more.

 

Can I make extra or lump sum payments into the program?

Absolutely. This will help you to become debt free sooner, and this is what we’re all about. You can make extra payments without penalty.

 

Beat your debt with our help! Will the creditors approve of the program?

Yes. We have been dealing with creditors since 1991 and have a blemish free relationship with them. In just about all cases, the creditors approve our Debt Management Plan and we begin the monthly payments. A statement of your account with us is available monthly or quarterly.

 

Can I qualify with Pension or Disability income?

Yes. Any income that is coming into the household qualifies as income for our Consolidation Options. Even if your spouse or family is supporting you, we will be able to help you be Debt Free.

 

No doubt you will have more questions about the debt management process for us. Let us help! Please complete the contact form or click HERE to fill in our online Budget Worksheet and a qualified Credit Counsellor will contact you within 24 hours or less or call us Toll Free at 1-800-565-4595.