No matter how deep in Credit Card Debt you are – there is a way out.
For many, careful management and planning can eliminate their Credit Card Debt (see below) – for others, it may be necessary to consider a Consumer Proposal – or as an absolute last resort – Bankruptcy.
Credit Card Debt Consolidation Loans – are not always a good idea. You might be able to take out a loan against your home or other assets (or have a third party guarantee your loan) to pay off your Credit Card Debt – but there are consequences you should be aware of:
If you are contemplating a consolidation loan or if you already know that you are too far in debt to ever realistically repay it all – and you live in the Greater Toronto area – contact the Professionals at David Sklar & Associates, Bankruptcy Trustees, for a free professional assessment of your current financial situation. Book your Free Consultation at 416-498-9200. Explore your options in a caring and supportive environment.
Step 1 – Stop Using Your Credit Cards – Now!
This is the most important of all the steps. Put your credit cards away and start using budgeted cash instead.
Step 2 – Know the Facts
Write down exactly what you owe in Credit Card Debt – find out from your credit card companies what your current interest rates are, and what the minimum monthly payment is for each card.
While you are speaking with your credit card companies – check to see if they are willing to lower the interest rate they are currently charging you.
Step 3 – Plan Your Attack
Step 4 – Do It – Now!
Just Do It Now. No excuses. No putting off. The sooner you start – the sooner you will be debt free.
Step 5 – Keep Doing It!
Live within your budget – cut your expenses & stick with it! Discover how powerful you are by controlling your expenses and building for your future and peace of mind.
Once you have paid off your credit card debt and cancelled those non-essential cards – check your Credit Rating and History to make sure it accurately reflects your improved credit situation.
If you are too far in Credit Card Debt to be able to manage your way out – speak with the Professionals at David Sklar & Associates (Licensed Bankruptcy Trustees). With six offices in the Greater Toronto Area, and a Free Initial Consultation – we can help you to explore your financial situation and available options in a positive and constructive environment. Call 416-498-9200 or Contact Us to book your Free Consultation.
If your debt problems seem insurmountable – we can help. At David Sklar & Associates, our Licensed Debt ProfessionalsTM have the experience and knowledge to help you get out of debt. During your consultation, we will help you understand what your current financial situation is, how best to fix it, and how to move on to a better life. With six offices in the Greater Toronto Area – we are here to help.
Call Us Today For a Confidential & Free Initial Consultation Call 416-498-9200