Many people get into financial trouble because they have too much debt. You can quickly get off track and get further and further into debt when you live beyond your means. You need to get help from debt advisors to learn how to get out of debt and stay debt-free so you can reach your goals.
How Can I Resolve Debt Problems?
First, learn about your debt and find out your options from qualified debt advisors. Our knowledgeable team will review your finances and answer your questions. We will assist in developing a plan to get out of debt and start saving money for the things you want. Some people want to save for a house or a car or retirement. We will educate you about the various tools that are available to help you save the money you need in your allotted timeframe.
Get Out of Debt
If you are deep in debt, you might need to consider taking more severe action. You might want to consider a consumer proposal or bankruptcy. Both options allow you to repay debt and get a fresh start once you complete repayment. A consumer proposal will enable you to keep your assets, but you must have a monthly income so you can make fixed payments each month until you repay what you owe. The consumer proposal affects your credit rating for up to five years after you finish making payments. Bankruptcy allows you to keep fewer assets and will remain on your record for six years after the discharge is complete.
How Can I Start Rebuilding My Credit?
A fresh start gives you the way to pay off your debt so you can start rebuilding your credit. It can take some time to rebuild credit. First, you must resolve your outstanding debt and take care of any problems that are in your credit history. If you find mistakes in your credit history, you can take steps to resolve the issues. After you pay off your debts, you will begin getting offers for new credit cards. You can start to rebuild credit by establishing one credit card with a small limit. Make sure that you always make payments on time. As you build your credit back up, you will be able to obtain a car loan or a home mortgage once you establish yourself.
Guidance from Experienced Debt Advisors
You can rely on Smythe Insolvency to get the financial advice you need. Our expert debt advisors will evaluate your needs and give you some options to help you reach your financial goals. Everyone’s financial needs and goals are different, so it is helpful to get some education about your particular situation. You will benefit from learning how to manage your money and live within a budget. You can save for the things in life that you want and need and will be able to live without the stress of money problems. Contact us to receive a free initial financial consultation to get started with resolving your financial troubles.