What about people who have good credit standing, but also live paycheque to paycheque, always paying bills?

Making the decision to restructure can be a difficult one for people with good credit.If you choose to deal with your debt and stop living paycheque to paycheque, the tradeoff is you will take a hit on your credit rating. But with the proper plan, this can be minimized and the short-term hit is often worth it, as it allows you to actually meet your long-term financial goals and reduces the constant stress you feel from the debt you carry. But there are advantages to taking this course. For example, people with good credit may qualify for a consolidation loan, if you can demonstrate your ability to repay.

Before making a decision you need to look at your budget and figure out what is an affordable amount for you to repay each month without having to rely further on credit.

Warning Signs of Financial Difficulty from Legalline.ca



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