Is debt counselling a scam – or does it really work?

From households to governments to big businesses – global debt has increased by 50 per cent since the crash ten years ago. Are we inviting another financial crisis?

GUESTS:
Garrick Hileman
Head of Research, Blockchain.com

Osmond Plummer
London Institute of Banking & Finance

David Belle
UK Growth Director, Trading View

Beverley Budsworth
Managing Director, The Debt Advisor
LOCATOR: MANCHESTER, UK

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This video is prepared by the Magistrates Court Legal Advice Service highlighting ways to avoid going to court by trying mediation.

MCLAS:
https://law.adelaide.edu.au/free-legal-clinics/magistrates-court-legal-advice/

Mediation SA:
http://mediationsa.org.au/

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Let’s talk about debt consolidation loans. Specifically, is a personal loan your best option? How to save money by choosing the most affordable personal loan or credit card, how to pre qualify for these loans without even providing your social security number, how to get a loan with bad credit and some more pro-tips that will really help you tackle that debt.

Debt consolidation can be a great option if you are stuck in credit card debt with crazy high interest fees. Typically, when you consolidate your debt you should expect to save a bunch of money on interest, BUT it doesn’t necessarily guarantee a lower payment and I show an example of this in the video.

Credit cards might be a better option than personal loans when considering debt consolidation because even with bad credit because a lot of them offer the option to do balance transfers and waive the balance transfer fee and offer 0% interest for 12-18 months. For more information on balance transfers and some companies to consider, click the video below

Companies Discussed in Video:

Wells Fargo (Risk Free Calculator)
https://www.wellsfargo.com/personal-credit/rate-and-payment-calculator/#Good

Sofi
https://www.sofi.com/personal-loans/credit-card-consolidation-loans/

Avant
https://www.avant.com/

FREEZE YOUR CREDIT:
https://www.experian.com/blogs/ask-experian/credit-education/preventing-fraud/security-freeze/
https://www.transunion.com/credit-freeze
https://www.equifax.com/personal/credit-report-services/credit-freeze/

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*Please be sure to do your own due diligence before making ANY financial decisions. On my channel I share with you my research but please verify everything for yourself! I do not give investment advice, just share my thoughts any my choices!*

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The Credit Counselling Society is an accredited non-profit charity that helps Canadians with their money. We opened our doors in 1996 and have served over 700,000 Canadians through credit counselling and education.
Our mission is We Help, We Educate, We Give Hope. We do this by providing free credit counselling, low cost debt solutions, and education to Canadians.
We help any consumer who calls us. We can answer general questions about your credit, debt and budget. We can meet with you to discuss your specific situation and offer you information, unbiased advice, and resources to help you. No financial problem is too big or too small to get a fresh perspective on. And the best part is that it’s free and confidential.

https://www.nomoredebts.org/canada/manitoba/winnipeg/credit-counsellingutm_source=GMB&utm_medium=Organic&utm_campaign=winnipeg

1-888-527-8999 or 204-942-8789

A chat between industry experts as they discuss what distinguishes one Debt Counsellor from another and what it is that makes a “good” Debt Counsellor? The discussion also covers the way forward for the industry given Covid-19.

Each year at the Annual Debt Review Awards over 50 different Debt Counsellors are recognised for their efforts in the debt review industry. For more information head over to: www.debtreviewawards.co.za

Debt Consolidation Loans
Don’t make the same mistake I made… 4 TIMES!!!
Star your debt free journey here— https://youtu.be/ErS9Q4oRkCU
Everything on this channel is based on my opinion and research

I am sharing my struggles with finances and that I need help.
I have contacted a non profit organization called Credit Counselling Society and they have set me up with a Debt Managment plan.
They have a website with lots of resources if you are interested. It is:
nomoredebts.org
I am sharing this to encourage anyone feeling overwhelmed like I was. It is ok to get help.

I’m Aja Dang and here are the 7 things I wish I knew about paying off debt while I was paying off my credit card, car and student loan debts. Just remember, you are so brave for wanting to tackle your debt. I feel like now there is this huge momentum for people in our generation to want to get out of debt – we are stick of feeling broke and tired of watching our paychecks go to someone else. No more! This is an exhausting journey but hopefully these 7 things will remind you that you are not alone in your experience. Here are the lessons I learned about paying off debt.

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