Debt Reduction

With the economic times of today, it may not be possible in your household budget for the first option to repay your debt within 5 years with the Debt Management Plan. Do not worry, you have other options! Our Licensed Credit Counsellors will evaluate your situation for free to determine if a Debt Reduction Plan is the right step for you to take which can be a lower payment option to ensure the payment works better for your Budget.

Cut Your Debt up to 70%

Repay approximately 30% of your unsecured debt
Avoid bankruptcy
Retain your personal assets including your home and vehicle
Stop any legal collection activity against you including a wage garnishment
Up to 5 years to pay your debt
One monthly payment

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The Debt Reduction option (also known as a Consumer Proposal Plan) is the next step if you are not able to afford to repay 100% of your debt through the Debt Management Plan. Debt Reduction is a better option than Bankruptcy as you do not have to submit a monthly budget and your payment will be fixed for a term of 3 to 5 years. Your Credit Rating is not affected as low as a Bankruptcy and it will generally be a lower payment than what you are currently paying monthly. This option is administered by a Bankruptcy Trustee in your province.

We will go through a Budget in detail with you to assess your situation to see if this plan works for you over the Debt Management Plan. If the Debt Reduction option is not affordable, we can refer you onto the next step directly with a Bankruptcy Trustee in your province. We will always find a solution for you!

Contact us today for a FREE Consultation or click HERE to fill in our online Budget Worksheet and to see if you qualify.

Real Life Examples from our Consumer Credit Counselling Clients

Testimonial

“Thank you Amanda for all your help, you made me feel like I'm not alone in the world. I appreciate that.”

Michelle
Fort St John, BC

“Thank you for your time and help. I haven’t felt this hopeful in a long time.”

Heather
Toronto, ON

“I just wanted to thank you for all your help. Life seems way better these days!”

Marilyn
Maple Ridge, BC

“I feel a sense of relief. I am so relieved to have come to the decision to do this Credit Counselling. Thank you."

Amelia
Calgary, AB

“Dear Tina, I would like to thank you and the team of Consumer Credit Counselling for a wonderful service you gave me. I am very excited and relieved to be debt free.”

Janet
Ottawa, ON