Canadian consumer debt is a growing issue, and many individuals struggle on a daily basis to keep up with their bills and debts. When debt builds up to a point where you are losing sleep, it may be time to get some financial counselling. Finances can be tough and debt is often very overwhelming. It is important to understand that you don’t have to do it on your own. There are resources available to help.
If you’re looking for financial counselling in the GTA, here are a few things to consider.
Avoid debt counsellors and trustees – they have an agenda. Yes, we understand that this may sound odd, since they are debt counsellors, but typically they are interested in securing your business. Trustees make most of their money from bankruptcies or consumer proposals so their opinions may be biased. If you are not in dire financial straits, this isn’t the best option.
What about going to the bank? While banks are well-versed in lending and financial matters, most don’t understand how to counsel someone who has credit problems. This is often because credit is a major factor in their lending decisions, and if a person has bad credit their options at a regular bank are severely limited. A bank isn’t the best place to turn to for help with a financial problem unless you have good credit.
Lenders who offer financing to people with bad credit are a great choice for counselling. This is because they have the experience and knowledge regarding how to best approach your situation, and the solutions presented to you will take into account your unique circumstances and financial position. They will understand your situation and can offer recommendations that make sense. They can also help you develop a plan to get out of debt AND rebuild your credit.
Another great thing about such lenders is that they may even be able to provide funding to help the process along. Knowing that the company is there to help you, not just by providing you with funding but helping you create a plan for a stable financial future, can make all the difference.
If you’re in deep and need some financial counselling in the GTA, Prudent Financial is here to help. We will sit down and go over all of your finances and help you build out a strategy to find relief. Stop stressing.
Get in touch today by calling 1-888-852-7647.