3 Reasons You Deserve Help With Your Debt TodayNov 21, 2018
Asking for help with debt is scary for many Canadians, but it doesn’t need to be. With almost three-quarters of adults in this country carrying personal debt, the problem is widespread and extremely common.
In honour of Financial Literacy Month, here’s some straight talk on why you deserve to have someone on your side who can help you get out from the burden of debt.
- It’s not your fault if you never learned financial literacy. Financial literacy isn’t commonly taught in school (though Ontario has recently made a commitment to doing so), so many Canadians don’t have strong skills in this area. Honing your financial literacy skills is wise — they can help you improve money management and get out of debt.
It’s also important to recognize that people need different financial knowledge at different times in their lives. For example, you may not need to know much about investments when you’re in your 20s, but you might need to learn more later in life.
Take some time this November to explore the various tools that are out there, like online debt calculators.
- You’re not a professional at dealing with debt. If you’ve boned up on your financial literacy and are still unsure what to do to get out of debt, it’s understandable. It takes time to become financially literate. Sometimes all you need is professional guidance to come up with a plan.
There are people who know debt relief inside and out who are happy to consult you with at no cost. A Licensed Insolvency Trustee (LIT) is a professional licensed by the government to provide services to people who are having difficulties with their debt.
You don’t need to be in overwhelming personal debt to get the help of an LIT right here in Peterborough. If personal debt is causing you stress, talking to a professional who is experienced in this area can help.
In the initial consultation, the LIT will listen to your story and explain all options available to you. You’ll discuss DIY or informal strategies and tools that might work to help you with debt. You’ll also find out the process of filing for bankruptcy or a consumer proposal.
- Being in debt is stressful and you don’t need the extra stress. Sometimes people carry the burden of debt longer than is good for them. While everyone wants to pay off their debts, if it just isn’t going to be possible in your current financial situation, it’s time to make a change.
LITs are uniquely qualified to assist with consumer proposals and bankruptcy. They can deal directly with your creditors so you don’t have to and help you manage the complex process as efficiently as possible.
Having a Licensed Insolvency Trustee means you’ll have all the information you need throughout the process — before you file and beyond. This helps ensure you are successful at achieving your goal of eventually becoming debt-free.
You deserve to get help with debt today, whether that’s by learning more to improve your money management skills or by talking to a professional.