Helping canadians with debt consolidation plans.

1. How to Get Credit Card Debt
Relief

2. If you are like most people, you tend to use credit cards for
emergencies, sudden expenses, or for doing something
fun like taking a vacation. Unfortunately, the amount we
put on our credit cards can really add up, especially with
there is really high interest charges. When your credit card
debt becomes overwhelmingly high, it often does not seem
like you will ever pay it off. In such cases, there are steps
you can take to alleviate the debt and even pay it off. If you
are in serious credit card debt and are interested in
learning how to get credit card debt relief, below are a few
solutions that can help.

3. Negotiate with Credit Card Companies: Depending on your
particular financial dilemma, you may be able to negotiate
with the credit card company yourself for a better rate.
However, you should make sure you do not have a lot of
other debt such as personal loans and multiple credit card
bills. If you have just one or two credit cards, this can be a
good option. The most beneficial time to negotiate for a
lower interest rate on your credit cards is when you’re still
current with your payments and have not fallen behind.

4. A Credit/Debt Counseling Agency Can Negotiate Debt
Relief for You: If your outstanding credit card bills are so
high you cannot keep up with the minimum payments and
the interest is piling on, it is time for debt relief help. The
sooner that you meet with a debt/credit counselor from a
debt relief agency, the sooner you can get things under
control and you will also have more options available to
you. It is important to see a debt relief agency that is
reputable and established. These debt management
counselors are professionals at working with creditors to
negotiate a lower payment plan.

5. Debt Consolidation Program: If you have multiple
outstanding bills such as personal loans and multiple credit
card bills that are really high and unmanageable, you can
meet with a debt management counselor to talk about
participating in a debt consolidation program. These
programs are offered by a debt management agency or
credit counseling agency. The program involves
consolidating all of your unsecured debt into one loan with
one interest charge. The debt counsellor will negotiate with
your creditors for a lower payment amount. You will send
your loan repayments each month to the debt
management agency and your debt counsellor will send
the payments to each creditor. As part of this program, the
debt counsellor works with you to create a sound
budget and you will learn how to better manage your
finances.

6. Orderly Payment of Debt Program: If you are a resident of
Saskatchewan, Nova Scotia, or Alberta, you may be
eligible for a consolidation order that is called an Orderly
Payment of Debt program (OPD). With this program, you
will repay the whole amount on the unsecured debts that
you owe which is normally over a three year period. The
interest rate is fixed at 5%. You will be able to hold onto
your assets. The creditors must be in agreement and the
courts must approve the OPD program.

7. Debt Settlement Program: This debt relief program
involves repaying just portion of what you owe.
You propose to your unsecured creditors that you pay a
lump sum of money in return for the creditor eliminating or
writing off the remaining part of what you owe on the debt.
If you’re not able repay the full amount, but you are able to
get a lump amount of money that would repay a portion of
what you owe, such as through selling a second car, this
may be a suitable debt relief option.

8. Before you make any decision regarding debt relief, it is
wise to speak with a Debt Settlement Specialist from a
debt relief agency. There are various fee structures
involved with the various plans so you should learn all
about them so you make a more informed choice. As well,
make sure the debt settlement agency is licensed and
reputable and does not have any issues with the Better
Business Bureau. The last few years have been a difficult
time financially for a lot of people. Fortunately, there is debt
relief options out there that can help you get out of debt
and start living a debt-free and fiscally stable life.

9. Helping canadians with debt care and consolidation
plans. For further information, click here.