A common question our debt consultants often get asked is the difference between debt consolidation and a consumer proposal. What are the benefits of each? When you should choose debt consolidation versus a consumer proposal?
It was June. I was attending a wedding of a friend and I met a man in his late 20’s, who had recently fallen into debt. It began with a serious biking accident. His finances had been on shaky ground before his accident. After a six-month hospital stay, his finances were in trouble.
He was better now and wanted to rebuild his life. But he had been out of work for a while and faced the new challenge of climbing from debt. He had amassed $20,000 in credit card debt, private loans, and interest growing every month.
Here’s a true story about a teacher with a 60K salary who couldn’t get ahead because of student loan debt. It’s a sad reminder that education has become a financial chain, rather than head start for many young Canadians. A few months ago, I helped a teacher drowning in student loan debt. The sad thing … Continue reading I Can’t Make My Student Loan Payments: A True Debt Story
"The stress and worries are over. We are living again."
Actual client testimonial. Name removed to protect privacy.
