How do Debt Reduction Plans work?
Our Professional Certified Insolvency Counsellors help you reduce your outstanding debt down by up to 80%.
Debt Reduction through Debt Arbitration – is a private service that has not been available to Canadians until recently. Unlike credit counselling, debt consolidation or bankruptcy, Debt Settlement allows for a portion of your debt to be forgiven.
Your Debt Arbitrator will negotiate with your creditors to have a portion of your debt forgiven. For example,
- you owe a debt of $10,000.00
- you offer your creditor a lump sum payment of $3,000.00,
- When the offer is accepted your creditor will forgive the remaining $7,000.00 and close the account.
The Debt Settlement program is ideal for those with debt in arrears or collections and who are considering the potential need to file bankruptcy. Our Professionals can eliminate your need to do that.