How to Dig Yourself Out of Debt in Canada

 

Yes, you can dig yourself out of debt, it’s possible. The right tools and knowledge can help you, above all – the right people can help. We are Canada’s trusted debt relief agency that helps thousands of Canadians get out of debt with our government-approved debt consolidation program designed to reduce or eliminate debt by up to 50%-75%.

 

If your goal this 2021 is to get rid of debt or dig yourself out of this sticky situation, you are not alone; there is help available. This article is for you, read on to learn how you can do this without the painful process of bankruptcy.

 

4 Ways to Dig Yourself Out of Debt

1.      Make A Budget and Cut Spending

This sounds to be easy, but if you don’t know how to plan it you will just fail like many others. To make a budget you must know how much the income you are bringing to the table each month, and calculate all expenses including your debt payments you are making every month.

Once you know the ratio of your income over debt as well as your monthly regular expenses, you start planning. Cut down all unnecessary spending such as unused cable subscription, fancy dining, unplanned shopping, and things that is not important. This will allow more cash flow for you to perform the second step below.

 

2.      Aggressively Pay Down Debt

After cutting down expenses, you’ll have breathing room. Part of the money you’ll save should be allocated in repaying extra money towards your debt. If you get incentives or bonuses from your employer, you can use these as extra payments to rapidly pay off your debt and stop interests from accumulating.

It is a smart move to pay off smaller debt first, this can feel rewarding and would give you momentum. Paying down debt with a smaller balance is easier and this can boost your confidence that paying off debt is possible and doable.

3.      Get Credit Counselling

If you are struggling along the way, there is a non-profit organization that can help you with the right resources and knowledge. Credit Counseling agencies can help guide you through various ways of money managing and budgeting to make your financial life better.

Aside from these resources, they can also help you with a Debt Management Plan which you should also consider. Credit Counselling services can negotiate with your creditors to stop interest and be able to create a plan that you can pay off in a period.

 

4.      Apply for Debt Consolidation Program (Best Option to Get Rid of Debt)

If you have over $10,000 worth of debt and struggling which makes you not capable to pay off all your obligations monthly, this is the right option for you. Our debt consolidation program helps reduce and eliminate debt by up to 50%-75% of the original debt amount, which means you only have to pay the portion of the debt you owe and the rest is forgiven.

We offer a free consultation to Canadians living in Ontario, with no risks, no obligations, and no commitments. This can be done in the comfort of your home, thru zoom, or by phone calls. Even if you don’t use our service, you will have known a great program that can help you get out of debt quickly and legally. We help consolidate debt from Credit Cards, Personal Loans, Car Loans, Taxes, CERB, HST, 407, Household Bills, Payday Loans, and Student Loan.

This program will also help stop collection calls, lawsuits, interests, and wage garnishments. We are an established organization and is growing. Read our hundreds of google reviews at this link.

Get your free debt savings estimate at this link. See you there and let’s start your debt-free journey.