There’s no doubt about it—debt and money problems can cause serious stress. In fact, one study from Sun Life Financial found that nearly 90% of Canadians experience stress about money and work. Worries about finances can take a toll not only emotionally, but physically as well. So how can you put an end to the sleepless night and find much-needed debt help in Winnipeg? It’s just a phone call away.
Where to Get Debt Help in Winnipeg
Finding reputable help for your financial problems can be difficult. Many companies that claim to offer debt help prey on people in desperate situations and charge exorbitant fees for their services. Often, they make promises they can’t keep, such as erasing negative marks from your credit or promising to stop calls from debt collectors.
One of the best places to turn for help is a licensed insolvency trustee, but don’t be turned off by that idea—trustees do handle bankruptcies, but they can also provide a number of services and solutions for people in debt. Trustees are licensed and regulated by the government, which means they are governed by a set of guidelines they must follow. Even their fees are regulated.
A few of the services trustees can provide to help you manage your debt include:
- Credit counseling. Trustees are also credit counsellors. During credit counselling, you’ll learn how to better manage your debt and finances. The trustee will look over your finances and help you identify the reasons for your financial problems. Together, you’ll develop a budget and debt reduction plan.
- Consumer proposal. If your debt is more than you can handle on your own, you may want to consider a consumer proposal. This is a legal agreement between you and your creditors that settles your debts for less than you owe. Your trustee negotiates with your creditors to come up with an amount you can afford. Once the proposal is accepted, you then make one payment a month to your trustee until the settled amount is paid off. Consumer proposals are typically 5 years. They also provide legal protection from your creditors.
- Bankruptcy. Bankruptcy often gets a bad rap, but in some cases it can actually be the best thing. When you’re deep in debt and don’t see a way out, bankruptcy can provide a fresh start by eliminating your debts in a relatively short period of time.
Finding Debt Help
There are many places you can turn for debt help. In Winnipeg, however, a bankruptcy trustee is the best and most reliable source for real solutions. Your first step in taking control of debt is to make an appointment with a licensed insolvency trustee. The first consultation with a trustee is free of charge. During your confidential consultation, your trustee will go over your finances with you and make recommendations on how to get your finances under control. He or she will also answer any questions you may have.