Whether you’re at the bottom of the debt ocean or you’re just trying to stay afloat, you need to know you’re not alone and you can get relief. Research indicates that nearly half of Canadian workers are living paycheck to paycheck, and the average household debt in Canada is all the rise. According to studies, a significant amount of the average Canadian household’s income is spent on interest payments in addition to repaying debt.

Guess what? To obtain debt relief, you don’t necessarily have to sell your assets or accumulate more debt. In this article, we will run you through the debt relief options available to you. Not only that, by having a free consultation with one of our debt experts, did you know you can reduce your debt by up to 80% and stop all interest payments immediately.

When Should I Seek for Debt Relief?

There are several warning signals that you are in debt and really need help. But sometimes we may decide to overlook situations out of fear of confronting them. It doesn’t have to be like that. Confronting debt issues is the first step towards freedom. You need debt relief if you are going through any of these situations.

Having trouble paying your bills

This is usually where everything starts. You may be finding it challenging to keep up with the minimum monthly payments, and you start missing payments, which results in high overdraft costs. You might find yourself borrowing from Peter to pay Paul, accepting cash advances to make ends meet, or managing your credit card debt with cash advances. This is a sign that you need debt relief right away.

Loss of sleep, tension, and stress

Debt can keep us awake at night and make it harder to concentrate throughout the day. Worse still, it can cause health issues like high blood pressure. It doesn’t have to get that far, now you can seek debt relief.

Constant fight with your partner

Financial issues are one of the leading causes of disagreements and can result in breakups and even divorce, so it’s essential to set financial objectives with your partner or spouse to stay or get back on track.

Collection calls

You probably already know you need debt relief if collectors are buzzing your phone from time to time. They can mount pressure on you and say threatening words. Seeking help from a debt expert can give you peace of mind. You know how a two-year-old has peace of mind and no worries? That’s the feeling you’ll have after speaking with one of our debt relief experts.

If you are going through any of these challenges, keep reading to see what debt relief options you can explore.

Debt Relief Through Debt Consolidation

It is true that putting all of your eggs in one basket is risky, but this is not the case with debt consolidation. If you have multiple credit card debts, payday loans, or personal loans, you can consolidate all of them into one single loan. Debt consolidation helps you put all your eggs in one basket. Putting your debt together makes it easier to manage, and you may be able to get low interest rates on it.

Debt Relief Through Consumer Proposal

The consumer proposal can help you reduce your debt by up to 80% and stop all interest immediately.  A payment plan that can be spread up to five years. A consumer proposal is a legal agreement between your creditors and you. It allows you to pay less than what is owed. You can keep your assets and stop all legal actions that your creditors may be planning to take.

Debt Relief Through Bankruptcy

This helps you obtain a fresh start, even though it has its downsides, it can help you wipe off your debt in as little as 9 months. Bankruptcy is considered a last resort, so you don’t necessarily have to go bankrupt to get debt relief, explore your options. If you are confused as to whether bankruptcy is the solution you need, you should speak with one of our debt experts. It’s possible that another debt option, like a consumer proposal is what you need.

Get Debt Relief Now!

It doesn’t matter how bad your situation is—you can get debt relief! Having bad debt can make you feel embarrassed, so you may decide to hide it. But to prevent sleepless nights and headaches caused by constant worry, you need to seek help. At EmpireOne Credit, we understand that life happens and things in life can also be fixed. We provide judgment-free, friendly support, all in a free consultation. Speaking with one of our debt relief experts will set you on the path towards financial freedom. You owe it to yourself to be debt-free! Fill out the form on this page or contact us at (416) 900-2324 to schedule a FREE consultation. Debt-free feels good!