|
FREE Consultation
CALL 1.877.475.3939 FOR A
FREE CONSULTATION
Canada Debt Settlements 95 Mural St
Richmond Hill, ON, Canada
info@canadadebtsettlements.com
Eliminate Debt Now!
Learn how we can simplify your financial problems today! Start living debt free "now" by having us handle your debt settlement needs. Our knowledgeable debt negotiators work for you and not the creditor. Contact us now for more information 1.877.475.3939
Service Overview
Canada Debt Solutions* Learn about your options and find out the difference that Canada Debt Settlements could make via Canadian Debt Solutions. Let our experienced staff work for you. There are no fees if you are not fully satisfied. You have nothing to lose but debt! |
F.A.Q
1. Do I have to walk into your office if I qualify? At Canada Debt Settlements, we deal with clients all across Canada via Telephone, Fax & E-mail. Physically visiting our office is an option of course, but not a necessity. 2. Is Canada Debt Settlements licensed? Proudly licensed by the Ministry of Government and Consumer Services, we realize at Canada Debt Settlements that disclosing personal financial information with anyone in general is definitely not on the top of ones priority list. Simply put, most individuals would rather not discuss the financial hardship subject unless necessary. We understand it is a very emotional subject and want you to feel completely comfortable when approaching our services. Our clients' funds are fully protected/insured by our Trust Account (Similar to a lawyers) to ensure that settlements, when approved, are processed efficiently. 3. Why should I use Canada Debt Settlements to settle my debts as opposed to handling it myself? Canada Debt Settlements has extensive experience in negotiating debt and working with creditors. We have established relationships with creditors and collection agencies, which are usually unwavering in negotiating with the consumer directly. Our team has extensive knowledge in consumer debt and the Collection Agencies Act. 4. When will Canada Debt Settlements begin settling my debt? Once you have fully retained our services, your creditors will be notified immediately of our intentions and we will begin the settlement process. However, Canada Debt Settlements will only settle a debt once the settlement funds are available in your settlement account. Our experienced staff will review all possible arrangements for settlement disbursements. 5. What if my creditors won't settle? Creditors will refuse to settle in very few circumstances. In any form of negotiation, one will see both offers and responding counter-offers. A settlement is agreed upon in most instances. Creditors often recognize the effort shown by the applicant and see the approach as more desirable than insolvency alternatives. When a consumer files for bankruptcy protection the creditor may be left with nothing but some physical assets. 6. Will I still receive harassing Creditor calls? Canada Debt Settlements is well-versed in the area of debt recovery legislation. As of the moment a consumer becomes our client, legal documents are faxed to creditors or their agents (collection agencies) to direct all communications, written or verbal, to Canada Debt Settlements Your Debt Consultant will act on your behalf in an attempt to control or reduce undesired communication. It is important to note that swift action is key and inaction may test the creditors' patience. 7. Do I keep paying my credit card bills? Debt settlement companies should never ask you or tell you to stop paying your credit card minimums. It has to be your decision and responsibility to honour your obligations to your creditors throughout the debt settlement process, if you are able to do so. 8. How does this affect my Credit Report Score? Unlike credit counseling or bankruptcy, entering our program is NOT part of your credit report. Your employer, landlord or any other organization who may view your credit report will NOT see that you are in our debt relief program. If your accounts are currently in collections, it will cause no further damage to your credit rating and remain an R9 showing Settled In Full. If your accounts are not in collections the effect on your credit depends upon your current credit score.
9. Why should I use Canada Debt Settlements instead of a "non-profit" company?
Most "non-profit" companies ask for a large retainer fee and most of them impose unrealistic budget requirements. You keep paying the overwhelming balance you currently have, with interest, though they may be able to lower your interest by a few points.
10. How long will it take me to complete the program and be debt free? As soon as settlement funds are deposited In Trust, negotiations will commence and it could be within as little as a week before we may present you with letters from your creditors, certifying a settled-in-full status of your accounts. All offers and counter-offers are confirmed with the client prior to any pay-outs. 11. Does Canada Debt Settlements keep my financial information private and confidential? Yes. Your financial information will be kept confidential. Only Canada Debt Settlements staff will have access to your debt reduction account. Only authorized creditors will only be informed that we are assisting you with your finances. In addition, Canada Debt Settlements DOES NOT report to the Credit Bureau. 12. Why do creditors agree to reduce my debt? Your creditors are willing to work with us because of the tremendous amount of debt that exists today. Canada Debt Settlements has established excellent working relationships with hundreds of creditors. Creditors prefer for you to seek out voluntary re-payment methods such as the help of a debt reduction company, as opposed to filing for bankruptcy as many Canadians already have. 13. Is Debt Reduction similar to Bankruptcy? Absolutely not! Debt reduction is geared towards individuals who are still able to re-pay back their creditors. But, due to financial hardships, these individuals seek the assistance of a program to get their creditors to agree to a reduction of their debt. Bankruptcy is designed to absolve you of all your financial obligations and results in long-term negative effects on your credit. 14. Do I have to give up all my credit cards? No. Unlike all Consumer Credit Counseling programs (Non-Profit), with Preferred Financial Services, you only have to enroll the debts that you want to be reduced. |
