As adults, there are meny things that we need to manage in one go. Certain spheres of our life have a far-reaching ripple effect. One important aspect is the finances. When struggling financially, increases the stress and often it is only a downhill journey from there. Sometimes even when we are trying hard to get out of it, we find ourselves struggling even more. You need credit counsellors that you can rely on. Someone who will hold your hand through this process and help to make it easier. The counsellors from York Credit Services have established their reputation as the leading name in the industry. You can read about the various experiences people have had with them at https://ca.trustpilot.com/review/www.yorkcreditservices.com. In these years, they have helped people to consolidate their loans, improve their credit ratin. We are answering some of the most frequently asked questions to motivate you to get the financial help you need.
How will it impact the credit rating?
When you meet the Credit Counsellor at York Credit Services, you will have to provide a comprehensive picture of your financial situation to them. They will devise a plan that will help you to tackle the loan. As you begin to resolve the debts through the debt relief program shared by them, you will see improvements in your credit score. There are certain programs as well, that will help you to improve your credit. Credit repair solutions are available to all clients of York Credit Services.
Will the process involve filing for bankruptcy?
Resolving a debt doesn’t always mean that you need to file for bankruptcy. It can be done with that. The experts from York Credit Services will help you do that without filing for bankruptcy. The reason is that it is something that should be done when the situation is severe. Filing for bankruptcy should always be treated as the last option. All the other options are explored before taking this drastic measure.
How much debt can be reduced through this?
The debt consolidation plan can help you reduce your debt by over 60%. The exact amount of debt reduction is dependent on various factors. Mostly the reduction is between the ranges of 50-75%. When this happens, there is also a change in the interest rates.
What types of debt are included in the debt consolidation program?
The debt Consolidation program by York Credit Services covers almost all types of unsecured debts. Some of the common types of debts they can provide you guidance with include credit card debt, payday loans, credit lines, instalment loans, taxes owed to Canada Revenue, phone companies and utility bills, professional fees, student loans, court judgements and EI overpayment. These are just a few examples of some types of debts included in the program. The debt relief program will help you to tackle almost every kind of personal low. However, the program can’t help you with child support, alimony and fines you need to pay to the court.