Debt Related Services:
Debt Consolidation Services - any one of several
specialized services that offers debt consolidation,
debt management, debt counselling, personal bankruptcy
and other personal and corporate financial solutions.
Debt Refinancing - a process by which your current debt and
current interest rate, term and principal may be renegotiated
with your current or a new lending institution. Very useful if you
are looking to lower your interest payments.
Developing a Budget - every individual and
family in Canada that runs into debt problems
usually has a problem developing and sticking to
a preset monthly budget. Experts can help you
eliminate needless spending and show you ways to
stick to your budget without overspending.
Contacting Your Creditors - debt consolidation services in Toronto are experienced in dealing with creditors. This experience will allow a specialist to speak to your creditors, explain your situation and often work out a means of renegotiating or extending the term of your debt.
Managing Your Auto and Home Loans - home mortgages, loans and car payments are often a large percentage of a family's debt. Debt counselors can help review the terms of these loans and suggest possible ways to lower your monthly payments or even consolidate these loans into one monthly payment through a home equity line of credit or other lending vehicle.
Credit Counselling - most Canadians don't want to admit that they need advice or counselling of any kind, let alone advice on how to manage their money. However, a credit counselor has the expertise to review your credit history, and can suggest some easy to follow steps aimed at improving your credit score, and lowering your monthly payments.
Debt Management Plans - or DMP is a widely used method for paying personal unsecured debts, which may have become all out of control because the payments due are taking too large a portion of one's income, and at times even exceeding it. The DMP involves a process of cataloguing all debts, assessing income and budget, net worth and possibly renegotiate interest payments, terms and interest with your lenders.
Bankruptcy - bankruptcy is a legal procedure in which an individual or company declares that they are unable or impaired in their ability to pay their creditors or debt. In some cases, a creditors can file a bankruptcy petition against a debtor, which is referred to as an involuntary bankruptcy. This is done in an effort to recouperatre all or a portion of what they are owed. In most cases, a bankruptcy procedure is initiated on a voluntary basis by the debtor. Bankruptcies may involve a court process, home foreclosure or the sale of assets such as furniture and cars.
Debt Negotiation Programs - this is a process similar to debt consolidation, but specifically deals with the professional negotiation by a third party on your behalf with banks and other debtors, to reach the best possible debt repayment program.
Student Loan Consolidation - this specifically deals with college and university loans that may be difficult to repay. This can be done by consolidating various student loans and perhaps having one's wages slowly deducted through a process of wage garnishment.
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