We will discuss ways to rebuild your credit rating. While we do not want people to find themselves overwhelmed with debt again, we understand the importance of rebuilding your credit rating so you may qualify for a mortgage or a car loan in the future. Often your landlords or employers may check credit rating. We will provide advice to help you rebuild your credit score safely.
Interest charges on unsecured debt can significantly reduce your disposable income. Often you can afford your monthly payments, only to find out on your next statement that the payment went mainly to interest and did not reduce your debt load. Finding a solution can eliminate this frustration. But remember that finding the solution is only the first step. You want to remain debt free in the future as well.
The Government of Canada, through the Office of the Superintendent of Bankruptcy (OSB), has a publication entitled ‘Consumed by Debt? Considering a fresh start?’. They provide a comparison between a LIT and a debt consultant. Their office can be contacted via the Canada.ca website or by calling 1-877-376-9902.