Top Rated Videos
Sheila talks about how getting debt counselling from Credit Counselling Services of Atlantic Canada helped her get her life back on track.
The Relentless Reviewer takes on the new 1960’s spy movie THE DEBT!
With Valcor’s business opportunity (http://valcorworldwide.com), you can provide small business loans, small business financing for growth, business restructuring, debt mediation and more. Make an impact in your community by saving businesses and precious jobs. Learn how in this video.
Joel Grise of K3C Credit Counselling was today’s Ask the Expert on CTV Morning Live.
Professional debt advice is free from Licensed Insolvency Trustees. They will explain all your options so you can decide the best solution for your situation. For more information about debt help services in Ontario, please call 519-310-JOHN (5646) or contact us via:
Website: https://www.adamsontrustee.com/
Facebook: https://www.facebook.com/adamsontrustee
Twitter: https://twitter.com/310johnadamson
Instagram: https://www.instagram.com/adamsontrustee/
Adamson & Associates offer bankruptcy, consumer proposal, credit counselling, and other debt help services in London, St. Thomas, Windsor, Kitchener / Waterloo and Chatham, Ontario.
There are a lot of misconceptions about what the Debt Repayment Scheme (DRS) is. For one, it is NOT a scheme that you can simply “apply” for when you cannot pay your creditors. It is “pre-bankruptcy scheme which is administered by the Official Assignee (OA) under the Bankruptcy Act (Chapter 20)”.
To put it simply, when you are sued for bankruptcy (or self-file to be a bankrupt), the OA checks your eligibility and assesses your suitability before placing you on the Scheme.
Language: English
Presented by Credit Counselling Singapore.
________________________________
Visit Credit Counselling Singapore – https://www.ccs.org.sg
Information on the Debt Repayment Scheme – https://io.mlaw.gov.sg/debt-repayment-scheme/about-debt-repayment-scheme/
Take our Online Debt Management Course – https://www.ccs.org.sg/get-help/odmc/
Address a Debt Problem – https://www.ccs.org.sg/debt-management/
Arrange for Financial Counselling – https://www.ccs.org.sg/get-help/appointment-documents/
Download Counselling Request Package – https://www.ccs.org.sg/sdm_downloads/crf/
Are you under debt review and looking for a way out? Or you’re over-indebted and looking for an alternative to debt review? Watch this video and learn more.
Connect with me on my socials
FB : Zoe Thwala
IG : zoe_thwala
Disclaimer:
I am a financial coach, if you are looking for financial advice please contact a financial adviser who’s registered.
What happens when you enter into a debt consolidation program?
Debt consolidation companies often promise to consolidate your debts and negotiate settlements with your creditors. These companies frequently advise people to stop paying their debts and to make monthly payments to the debt consolidation company instead. This is done with the hope that the company will be able to use those funds to settle certain debts.
Will a debt consolidation program stop creditors from reporting negative information to the credit bureaus?
Unfortunately not. If you fall behind or stop paying on a debt, the creditor is permitted to report the late or missed payments to the credit bureaus.
So, even if a person is current on the monthly payments to the debt consolidation company, they can still be delinquent on payments to their creditors.
Entering into a debt consolidation program does not automatically change the terms of a person’s agreement with a creditor. Unless your creditor agrees to change the repayment terms, you will remain bound by the payment terms of your agreement with the creditor.
The creditor is also permitted to take action to collect the debt, such as collection calls, lawsuits, and garnishing a person’s wages or a bank account, and the creditor can report delinquencies to the credit bureaus. Reports of missed payments to the credit bureau can hurt your credit score and impact your future borrowing capabilities.
How will your credit be impacted if the debt is settled?
If your creditor agrees to accept a balance less than the full balance that you owe to settle a debt, the account will still remain on your credit report.
Additionally, any missed or late payments prior to the settlement being reached will remain reported as well. Your credit report should reflect that there is no longer a balance owed. However, it is likely to also reflect that the debt was settled and not paid in full.
Should someone who is considering a debt consolidation program also consider bankruptcy?
Yes. It is common for people to believe that a debt consolidation program is a better option than bankruptcy due to concerns about the credit impact. However, the negative credit consequences associated with debt consolidation programs are less commonly understood.
There are actions that people are able to take to overcome credit challenges and accomplish their financial goals. In many instances, eliminating or restructuring debts through bankruptcy may put an individual in a better position to be able to rebuild credit quickly.
At Financial Freedom Legal, we offer free bankruptcy consultations that can be completed via telephone, Zoom, or in-person in Richmond, VA. We also offer flexible scheduling and are happy to meet with you on evenings and weekends.
Generally, an appointment takes approximately 1 ½ hours to complete. At this appointment, you are able to explore your options with an experienced debt relief attorney. There is no obligation to file. If you are considering debt consolidation, we strongly recommend also taking the time to learn about your options under bankruptcy.
www.fflegalva.com
Hear the story of Ashley and Chantal, a married South African couple who overcame financial struggles through the power of debt counselling. In this video, we share their journey from relationship strain caused by finances to a harmonious and debt-free life.
#Debtcounselling #marriageadvice #relationshipstruggles #financialtransformation #debtmanagement #loveandfinance #debt-freejourney #relationshipcounselling #financialsuccess #overcomingdebt #couplegoals #counsellingimpact #debtrelief #buildingastrongermarriage #debtcounsellingbenefits #marriedinCOP #marriedincommunityofproperty
