If you’ve ever been caught in cash crunch you know how hard it can be to dig yourself out of trouble. Debts take over your life, bills pile up and then the phone starts to ring as collection agencies circle overhead. No one wants to be in this position, but there is a way out with the help of non-profit credit cousellors. They can really make a difference. They will teach you how to budget, provide basic credit counselling and talk you through your options in terms of negotiating with your creditors.
Basic services like counselling and debt management workshops are low cost—or in some cases no cost—and the money they can save you is more than worth your time. The hardest part is asking for help. Bruce Sellery walks you through the different services available and explains how they work.
Links to some non-profit credit counseling agencies
Credit Counselling Society — www.nomoredebts.org
Credit Canada — www.creditcanada.com
Consolidated Credit — www.consolidatedcredit.ca
Money Mentors — www.moneymentors.ca
Q. I have a bad credit score. Can I get a debt consolidation loan?
A. Your credit score is a reflection of how you handle credit and debt. A bad credit score shows that you haven’t handled your credit accounts responsibly so a new creditor is unlikely to offer you a debt consolidation loan with a low interest rate.
Even though you may not qualify for a debt consolidation loan there is a way you can reduce your debt and save some money in the process.
It’s called debt negotiation also known as debt settlement. You can negotiate with the creditor or debt collector to settle your debt for less than what you owe. Of course, your lender will need to accept the settlement and agree to cancel the remainder of your debt. Most of them will agree to settle since they would get nothing if you decided to file for bankruptcy.
Plus, debt negotiation is not as severe a hit to your credit score as a bankruptcy filing.
If you don’t want to hassle negotiating with your creditors, you can hire a BBB accredited debt negotiation company to do it for you. Visit https://www.nationaldebtrelief.com to learn how to consolidate your credit card debt without bankruptcy.
Credit Counselling Services of Atlantic Canada, Inc. (CCSAC) offers help with credit card debt, budget counselling, debt repayment plans, financial education and more to help you on your way to financial freedom. If you’re looking for debt relief, we can help.
debbie Gillis talks about how United Way funding has helped K3C Credit Counselling.
Why you should consider using a personal loan to payoff high interest rate debt. The standard deduction is now $12,000 per person or $24,000 for a married couple filing jointly. As a result, there is likely no tax benefit to borrowing against your home, and a better option could be a personal loan to pay off high interest rate credit card debt. Make the same payment you are making now but refinance it to a low single digit rate and pay it off in 3 to 5 years, saving 15 years of payments. Here is a link to comparison shop https://www.lendingtree.com/personal/ #creditcards #creditcarddebt #payoffdebt
Yvonne Colbert takes a closer look at what consumers need to know about an un-licensed credit counselling service.
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Video 3 in our latest interview series – Avineet Kalsey is discussing BSCC’s core company values.
You don’t need to struggle with debt, BSCC can help reduce your debt by over 50%-90% RIGHT NOW – call us today at 1-866-790-8984 – its free!
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Don’t spend another year racking up unnecessary debt and dig yourself deeper into an unrecoverable situation – we can help! You can avoid going into bankruptcy – it’s a negative mark on your credit and can last for 7-10 years – where a neutral credit counseling notation is REMOVED once someone completes the program. You really can turn your financial life around quickly – just call us and receive a free evaluation of your situation with some helpful advice and absolutely no obligation to take any action if you don’t wish to.
Remember – you DO NOT (and in a lot of cases, SHOULD NOT) always have to go into bankruptcy – we can share valuable information about your options that your bank or other credit counseling companies may not be willing to share with you – because it’s not in their best interest! We work on YOUR behalf, and thus ensure that you receive the very best information for your specific situation. Contact us today at BSCC for a free
consultation about your finances – 2018 can be your year that you begin on the journey to finally becoming debt free!
For over 18+ years, the professionals at Business Solutions and Credit Counselling Services (BSCC), a registered, government-approved credit counseling firm, has assisted hundreds of thousands of consumers throughout Canada to avoid declaring bankruptcy, prepare a consumer proposal, rebuild their credit rating, and pay off their excessive charge card debt. These are clients who were once struggling to manage excessive debt and financial obligations. We work with each client individually, designing manageable, realistic programs to relieve their financial burden and stress.
For more information about using effective debt counseling nationwide wherever you live in Canada – and how to avoid bankruptcy and becoming debt free from high credit card debt or even business bankruptcies, please visit us at http://www.bscc.ca or call 1-866-790-8984 today! We have credit counseling offices in Toronto, Vancouver (Surrey), Calgary, Edmonton, and Abbotsford.
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In this video, I will be going over my best ways to consolidated credit card debt. It is away tough to know that you have a lot of money that you will need to pay in order to get out of debt, but it is more difficult to deal with the amount of interest that you will pay over the life of the debt. I don’t want anyone to have to pay that much money in interest to I will give you two of my tips to consolidate that debt into a lower payment and minimize the interest.
Ways to consolidate credit card debt:
1. Open a Credit Union Account – The reason why this works is because credit unions have always had very low rates for their loans and even their credit cards. If these loans are out there then you will want to take advantage of them.
2. Open 0 APR Credit Cards – Obviously with this option it is opening up another credit card which is not the best option because you have to first be approved for it and if you have bad credit you might not get approved. Second you are more likely to abuse more credit if you do have the option. The benefit is that you will not pay a dime in interest for however long you have the promotional period for.
List of APR Credit Cards:
Capital One Silver Card – 0 APR for 15 months
Citi Double Cash Back – 0 APR for 18 on Balance Transfers (Favorite)
Amex Blue Cash Everyday Card – 0 APR for 15 months
Are you living with maxed-out credit? We are a non-profit service and we can help. Call us today. 1-888-527-8999
Total Debt Freedom’s debt relief program compared to credit counselling etc.