|
|
Dealing With Debt If you're able to say “yes” to any of the Danger Signals of a debt problem, you need to deal with it now. Some Solutions Could Be Simple In the earliest stages, most debt problems can be dealt with quite easily. Re-aligning your budget and sticking to it might be enough to deal with the problem. You might be able to discuss the problem with your creditors and reach an agreement to pay lower payments over a longer period of time. Consolidation Loan Can be Helpful or Dangerous Consolidation loan might be another option. A consolidation loan is when one lending institution makes a loan to you which pays off all your existing debts and you then repay that loan with one monthly payment. Be honest and realistic when looking at this option. Shop around and find the best possible option before committing to a loan. Be very sure you can realistically meet the payments over the long term without incurring more debt. Continuing to use credit can increase your debt load and narrow your options. You may find it helpful to consult with one of Par-O-Law's Financial Default Management™ Specialists before making this decision. Financial Default Management™ This is the term used when applying the techniques necessary to restructure your debt. When you are not able to make monthly payments on due dates, you are considered insolvent, but not bankrupt. If we manage to restructure your debt so as to allow you once more to make regular monthly pyaments based on your ability to pay, you will have received one of our many Financial Default Management™ Services. Par-O-Law is the only provider of these services in Canada Understanding the Options There are many options available to the debtor to deal with out-of-control debt. Engage a qualified Agent which represents YOUR interests exclusively to assist you in choosing the right one for you. |
Contents & design © Par-O-Law Canada Inc 2000-05 (all rights reserved)
Site Design & Development: Apple Country Web Design | Email Webmaster