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When you have too much debt, it can cause you to be under a lot of stress. It can also be depressing. You may feel as though you will never get out from under the mountain of bills. There is hope for you to pay off debt in Vancouver. At Smythe Insolvency, we have the experience and expertise to assist you with your financial problems. We will give you the information you need to improve your money problems and keep you from getting back into debt.

How Can I Pay Off Debt in Vancouver?

You can pay off debt in Vancouver with help from a financial specialist. You can learn how to create a budget, so you live within your means and set aside enough money to make payments towards your debt. You may be able to get a debt consolidation loan that lets you pay off debt and make one affordable payment each month. If you are in severe debt, you may need to consider other options such as bankruptcy or a consumer proposal. 

Options for Consumers

The two options that are available for consumers in Vancouver include bankruptcy and a consumer proposal. A consumer proposal is a legal agreement that requires you to pay off debt in Vancouver over time with several fixed payments. Bankruptcy is often considered a last resort. It requires you to keep only a limited amount of assets. A consumer proposal is a good solution for those who have a regular monthly income. You will be able to save your assets, such as your home and car. You will have up to five years to repay the consolidated debt with a consumer proposal, and it will remain on your credit history for three years after your final payment. Bankruptcy stays on your record for six years.

Can I Get A Fresh Start?

When you pay off debt in Vancouver with bankruptcy or with a consumer proposal, you essential get a fresh start. You will be able to start rebuilding your credit after you resolve your debt situation. The immediate result is that your creditors will stop calling you and harassing you for payment. When you make arrangements to pay your debt and stay on your plan, creditors will see that you have made an effort to resolve your financial problems. You will be able to start over and begin getting access to new credit over time.

Financial Counselling

At Smythe Insolvency, we offer comprehensive financial counseling services. We provide you with the information and tools you need to manage your finances. We will assist with creating a budget and evaluating your financial goals. We will help you set your goals and attain your financial independence. Whether you are saving for a house, retirement, education, or anything else, we will work with you to get you on the path towards success. You will learn to live within your means so you will never again get into financial distress. Contact our team today for a free initial consultation.

Pay Off Debt Vancouver
Smythe LLP
201-1825 Bowen Rd, Nanaimo, BC V9S 1H1

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