Debt Consolidation and Credit Counselling in Halifax
- Our plans are 100% legal and have helped thousands of families and individuals
- We design your plan based upon your goals such as buying a house, afford retirement, or simply stopping the stress.
- Our debt relief experts have assisted in restructuring millions of dollars of debt for Nova Scotia residents.
- We work with consumers to help them get out of debt and more importantly stay out of debt.
- A foundation build out of Trust. As a Licensed Insolvency Trustee we are regulated by the Federal Government.
- Our free consultation comes with no pressure to sign contracts or obligations.
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HALIFAX DEBT FREEDOM
Know your options
Focused & Strategic Debt Consolidation & Debt Relief Plans
The goal is to help get you out of debt as soon as possible, help get you into a payment plan you can easily afford, and help protect your mortgage and assets. After reviewing your current financial situation, we outline a personalized plan to meet the immediate short-term needs of dealing with your debt that fits your long-term financial goals. It does not matter if you have tried getting debt consolidation loans in the past – everyone will leave our office with a better picture of their financial situation.
Our role is to assist you, and help structure a new affordable monthly payment plan, or debt management plan, to deal with your debt consolidation, either through a comprehensive budgeting program, outlining reasonable finance options that make sense for you, or if required through a filing with a Licensed insolvency or bankruptcy trustee. We believe it to be imperative that you obtain expert advice in any major financial decision. If carefully structured with your goals in mind, a debt consolidation proposal to creditors will usually repay a portion of what you owe, often eliminating up to 80 per cent of debt. We are debt consolidation experts serving the Nova Scotia & Atlantic Region.
Re-Establish Your Credit Score & Rating
Building cash savings and gaining an understanding of how to build / maintain a good credit score & rating are the cornerstones of any successful plan to deal with debt. Once you have the new plan in place, those will be the next items we discuss with you. We help you understand your credit score, credit rating, credit report, the importance of maintaining a strong credit profile, how to effectively manage credit, and therefore keep yourself out of debt for good.
Imagine a Debt-Free Future
In Canada, it’s important to understand that you are not your debt. Like millions of Canadians, you may have a debt issue. But with timely debt counselling, a solid debt restructuring plan, plus immediate credit score & rating rebuilding and education, you can move on from your debt, wiser, financially solid and fortified against ever going into debt again. You can repay your debt with one affordable monthly payment.
97% of Halifax, Dartmouth and Nova Scotia families successfully complete the debt consolidation plans we help create and become debt free.
Frequently Asked Debt Consolidation Questions
Do I get to keep any credit cards?
This largely depends on the type of debt restructuring or debt consolidation used.
If you file a Bankruptcy, then you cannot obtain or have any credit during this process.
It should be noted that we believe Bankruptcy should be a last resort option and will help you explore all other options first.
In other restructuring options, you can keep the credit card if it has a zero balance.
How much will it cost me to work with you?
Our fees are very reasonable and affordable. The fee will be determined by the complexities of your particular situation. You can rest assured that in your free consultation you will be fully informed as to the total fee and what services the fee includes.
Our office provides a free 1-hour information session, educating you about all the options available; Learn more about how to deal with overwhelming debt and bankruptcy alternatives. Your Debt Relief Expert will ensure you are properly educated on all options including budgeting, leveraging your existing financial situation, a debt consolidation loan, credit counselling, informal settlements, consumer proposal, and bankruptcy.
These sessions can happen in your our office or via zoom or telephone.
- Get expert answers about your current debt situation and an unbiased review of your options.
- Get detailed information about how consumer proposals work and what is required to file one, debt consolidation, credit counselling, and how these debt relief options affect your credit rating and mortgage.
- Information about spousal responsibility to the debt, the long-term effect of different options on your ability to obtain a mortgage, and what you can do to best deal with your creditors.
What is debt restructuring?
Debt restructuring is the method of implementing a debt consolidation or debt relief program to your specific situation. Every situation is unique and the debt solution for every person is unique to them.
Making the decision to restructure can be a difficult one for some people and it is important to understand both the benefits and implications of doing so.
Restructuring can significantly reduce the debt owed and vastly reduce your monthly payments by removing the financial pressure you face.
It will also allow you to repay debt which you probably feel you will never repay. You need to look at dealing with debt as part of your long-term plan and calculate the cost of servicing the debt you have.
Is it stopping you from contributing to your children’s RESP’s or your own RSP’s? Is the debt being paid down aggressively or will it be carried out for years before ever being paid off?
If you choose to deal with your debt and stop living paycheque to paycheque, the trade-off is you will take a hit on your credit rating.
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.
Will debt restructuring affect my credit score or credit rating?
Different restructuring options have different effects on your credit rating.
As a general rule, any time you settle your debts at less than 100 cents on the dollar, it will have a negative effect on your credit rating.
Who qualifies for debt relief?
Anyone with a debt load they are currently struggling to pay and has an income would typically qualify for debt relief services.
However, it should be noted that every situation is unique and an individualized assessment is required.
Debts that can be taken care of are unsecured debts such as personal loans, lines of credit, credit cards, and bills.
Is there really a debt relief program?
Yes, there are several programs available that provide debt relief.
The benefits and disadvantages and the amount of relief varies by program. Some programs can help reduce interest and principle, others can only tackle the interest, and some simply modify the payments terms slightly. If you are looking for debt help in Halifax, Dartmouth, HRM, or surrounding area, you are in the right place.
Will debt consolidation ruin my credit?
Debt consolidation can hurt your credit, but it’s only temporary. Different restructuring options have different effects on your credit rating. The real world impact of these varies depending on your situation.
Is debt relief in Nova Scotia & Canada legitimate?
Yes, Debt Relief in Canada is legitimate. There are several programs that allow for the reduction of interest and principle, or a combination of both. Debt Relief in Canada often gets a bad name as many companies try and push a single solution on a consumer instead of reviewing all options available. We recommend speaking with a professional to review all options available in your situation.
I'm embarrassed and worried about reaching out
We completely understand.
Click the ‘Reviews’ button at the top of this page to see what other residents across Halifax, Dartmouth and all over Nova Scotia have said about us when helping them deal with their consumer debt.
We believe in a no-pressure, no judgement approach.
Looking for debt relief services is one of the most important decisions you will make in your lifetime and we believe it shouldn’t be from a place of judgement.
All of our debt relief experts and consultants are compassionate and will treat you with nothing but respect.
What is better debt consolidation or debt settlement?
Traditional debt consolidation is useful for cutting down the overall amount of creditors you owe, and usually the amount of interest you pay.
This typically involves obtaining a new loan, and using that loan to pay out your existing debts. Debt settlement, on the other hand, is a method of reducing the amount of principle you have owing to your creditors.
Debt settlement usually comes with a lower overall repayment, but at the expense of a credit hit, whereas debt consolidation involves a greater cost but no credit impact.
Does debt consolidation hurt your credit score or credit rating in Canada?
Traditional debt consolidation does not negatively impact or hurt your credit rating.
This assumes you make all of your monthly payments on your consolidation loans.
If these payments are maintained for the life of the loan, it is possible that your credit rating will improve overall as a result of these payments.
Is debt relief a good option?
Debt relief can is a good option if you are struggling to make your minimum monthly payments or if your consumer debt load has been increasing for some time.
Debt relief doesn’t come without consequences.
You will typically experience an impact to your credit, however, the benefits usually far outweigh the negatives.
Can the government help me get out of debt?
While many debt relief programs are federally legislated, the government itself isn’t in the business of offering debt relief services. Services are performed by for profit organizations licensed with the government.
Is this a consumer proposal or bankruptcy?
We review every single option that you have in dealing with your debt including but not limited to a consumer proposal and bankruptcy.
Do you offer debt consolidation in Halifax & Nova Scotia?
We are a debt solution firm that specializes in helping people consolidate their debt and get out of their financial difficulties as quickly as possible while also ensuring they plan for the short and long-term goals.
Is debt consolidation a good way to go?
Your current financial situation can help you decide whether debt consolidation Halifax is good for you. You also need to consider the type of debt consolidation to choose and how it’ll affect your finances. Consolidating your loan can help reduce your monthly payments and extend the payment period, thus easing your financial burden and giving you more time to pay back your debt.
What are the risks of debt consolidation?
Debt consolidation is a common strategy used in bankruptcy Halifax. While this strategy offers financial relief, there are some risks attached. Some of the common risks of Halifax debt consolidation include; Encourages borrowers to plunge deeper into debt May lead to higher interest payments due to more extended repayment periods. Borrowers may end up in consolidation scams. Borrowers who consolidate debt with their homes or retirement may put those assets at risk.
Is debt consolidation a loan?
Yes. Debt consolidation is a personal loan type that helps borrowers combine their existing debts into one loan. This debt relief Halifax strategy offers a lengthier repayment period and a lower monthly payment advantage. Bankruptcy attorneys in Halifax help with debt through this solution.
We can help you tackle your consumer debt.
Schedule your free debt consolidation consultation in Halifax today
Top Rated Debt Freedom Services in Halifax, Nova Scotia
Halifax Debt Freedom is located on 50 Eileen Stubbs Ave, Unit 130, Dartmouth, NS. From Halifax Stanfield International Airport (YHZ) get on NS-102 S. Then head northeast on Bell Blvd toward Pratt and Whitney Dr, and sharp left. Next keep left at the fork to continue toward Bell Blvd, and continue onto Bell Blvd. After that merge onto NS-102 S via the ramp to Halifax/Dartmouth, and follow NS-102 S and NS-118 to Commodore Dr in Burnside, Dartmouth. Take exit 12 from NS-118, and merge onto NS-102 S. At this point keep left at the fork to continue on NS-118, follow signs for NS-107/NS-111/Dartmouth/Halifax, and take exit 12 for NS-111 N toward Halifax/Mackay Bridge. Next keep right, follow signs for Commodore Drive, and continue on Commodore Dr to your destination. Then continue straight to stay on Commodore Dr, and continue straight to stay on Commodore Dr. Turn left onto Eileen Stubbs Ave, and turn right. Finally, turn left, and Halifax Debt Freedom will be on the right.
We’re open: Monday-Friday 08:30 – 16:30. For additional questions, you can call us at (902) 707-4826