INDIVIDUAL OPTIONS >
Ready to regain your financial independence and stability? Crowe MacKay & Company can refer you to a helpful credit counsellor today! People seek credit counselling in Vancouver for strategies and advice on how to budget their expenses and deal with creditors while they're recovering from financial difficulties. In most cases, credit counsellors will contact your creditors as they create a payment plan for you to follow.
You should always do your research and work with a reputable credit counselling agency that employs qualified counsellors. Ask questions about their experience and any fees required. Credit counselling organizations often offer one-on-one meetings, group courses and seminars on how to stick to a budget, improve your credit score, use your money wisely, and other important financial topics.
Our Licenced Insolvency Trustees (LIT) will show you a detailed picture about your finances. After our LIT have evaluated your income and expenses, we’ll work out a plan to get you out of your debt. This will include reaching in terms with your creditor and devising out plans to lower your monthly payments.
Advantages of Credit Counselling
It is always wise to consult a LIT, when you require an effective management of your debts. In Crowe MacKay & Company, we have the tools to assist you in bringing your debt under control. When you visit us you can be assured of a transparent analysis of your financial situation. It will enable you to have a proper knowledge about your finances, so that you can take measures to reach your financial goals.
Our team will work with you to devise plans for debt management, such as filing consumer proposal, ordinary proposal, personal bankruptcy, or debt consolidation, to make your situation better. Execution of the plan is entirely on you, for which you have to apply yourself and follow up.
If you feel confident that you can pay back the full amount to your creditor, only if your payment per installment is reduced, our LITs can help you out. We will try our best to increase the tenure within which you need to pay your creditors. But for this to be carried out, your creditor needs to be in agreement that your repayment period can be extended.
We have debt management plans such as consumer proposal, ordinary proposal, and more, which will be legally binding on the creditors, after most of the creditors have accepted the proposal. It will be valid for all the creditors irrespective of whether they voted for the proposal or not.
Debt Consolidation Loans in Vancouver
You may be able to borrow from a bank or loan company to pay off all of your creditors. This would leave you with just one creditor to deal with and one monthly payment. If you are able to do this, you should refrain from using your credit cards and conduct your life on a cash-only basis until the consolidation loan has been paid in its entirety. This will stop you from taking on more debt.
This option is not for everyone, as many people in financial difficulty cannot get a consolidation loan through conventional sources. If you are able to qualify for a loan, it is important to shop around for the best interest rates and repayment terms.
If you need advice regarding effective management of your debts, you can get in touch with Crowe MacKay & Company. We will try our best to ease out your financial situation at the earliest. Contact us for scheduling an appointment with one of our LITs.