Voluntary Creditor Negotiations
If you need debt help for more challenging financial concerns, such as an inability to realistically repay your outstanding loans, we may be able to offer other solutions that can avoid legally binding consumer proposals or bankruptcy.
Lenders are often more than happy to discuss payment solutions that will result in a mutually beneficial outcome. You will still be responsible for paying the entire amount of your loan, but we may be able to arrange for smaller payments over a longer period of time, reduced interest payments or balloon payments that would coincide with a commission based pay structure. Of course, these arrangements are only good for as long as they are being serviced effectively. It is important to practice diligent repayment habits with each of your Lenders, as failing to comply with your agreement could result in their taking legal action against you, or at minimum, rescinding their offer to work with you outside of the regular terms of your loan.
Another solution that doesn’t require legally binding agreements is debt consolidation through your financial institution. If you find that your bills are adding up and you are paying high interest on your loans and credit cards, financial institutions are often willing to provide clients with a single, lower interest loan to combine all of your outstanding bills into one payment. Again, repayment of this loan is key to re-establishing your good credit and keeping your existing loan in good standing.
Although more aggressive financial restructuring is sometimes the right answer, it isn’t always the case. Our team of professional credit counsellors will help you to develop a strategy that works for you. We will hear your concerns, listen to your goals and take you through all of the options available to you. Financial freedom is possible. Let us get you there.
For many people, a review of finances and some helpful guidance towards a heathier financial outlook is all it takes to make some major improvements. Establishing a reasonable budget, making use of good interest rates and getting on top of outstanding debt are all ways to get back on track. Our helpful team of experienced advisors can help you get yourself on the road to financial stability.