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Some basic facts about being in Bankruptcy and some other options in Ontario include, the Bankruptcy and Consumer Proposal rate has increased by 30.4% in 2009 from those numbers in 2008. Some other options include, consumer proposal, debt consolidation loan or debt settlement.
If you are thinking about filing for Bankruptcy you should consider all your options first one being debt settlement. You will be able to reduce the amount of debt you have as well as pay off your creditors within a period of time.
A Debt Settlement professional can help you eliminate all the stress of being over-burdened with debt and also help you to reduce your debt so the creditors will stop calling you at all hours of the day and night.
Debt Settlement can be completled in as little as 2 weeks, but normally takes about 3 to 4 weeks to fully complete the whole process.
There are many different benefits to debt settlement. Some of these benefits would include; stopping creditor calls, free assessment of all your options, your payments will be reduced, one manageable payment etc.
A Debt Settlement consists of approaching your creditors and reducing your current debts and the agreement to pay a settlement amount. Once all creditors agree to this a new source of credit will replace all your former credit which will result in a lower payment and the ability to pay down the principle amount so you will be able to become debt free.
Debt Settlement helps with unsecured debts such as credit cards, unsecured loans, unsecured lines of credit, some car loans. It can also help reduce your balances on student or education loans, payday loans, family responsibility arrears and any form of secured credit such as a mortgage, a 2nd mortgage or Home Equity Lines.
Debt Settlement is an alternative to Bankruptcy or Consumer Proposal. In debt settlement your balance of your debts is negotiated and reduced which will allow you to make lower manageable payments.
Oshawa, Ontario L1G 5N3
(905) 404-8001
(866) 452-1100
info@themds.ca
The Mortgage Doctors is Durham Region’s Mortgage Superstore. Our Mortgage Brokers use their expertises to advise and obtain approvals on mortgage financing that fits your mortgage needs.
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