As part of our Free Consultation, a review of your personal finances will determine if there is a proper balance between your income and living expenses, including debt payments. The goal is to locate the source of the pressure you are experiencing, and to identify workable options for you.

If you are struggling with debts, having difficulty with your required debt payments, or receiving collections calls, we can offer you a Debt Management Plan based on your income and ability to pay.

If though, it is just advice you need or providing other options you can pursue on your own, we will be pleased to guide you.

With a Debt Management Plan we can arrange new terms with your unsecured creditors such as credit cards, loans and lines of credit, to eliminate or substantially reduce the interest rates, along with lower monthly payments.

You then make a single, lower monthly payment through the Debt Plan, typically 30-40% less, while we distribute the payments to the creditors and manage the plan for you. This will allow you to repay your debts with one affordable payment within five years or less.

Overall a Debt Management Plan will feel like a consolidation loan. The difference is that you have consolidated your debt payments and lowered your interest costs without borrowing more money!

Virtually all forms of unsecured consumer and personal debt such as: credit cards, lines of credit, personal loans or accounts in collection can be included.

Secured creditors, who have registered collateral such as an automobile, boat or a mortgaged home, cannot be included in the Debt Plan and are unaffected.

With the reduced interest rates and lower, consolidated payment of a Debt Plan your debts will be repaid within 4½ to 5 years. This is always much less time than full repayment under the existing terms. Try our Credit Card calculator in the Online Tools to see the real cost of your debts.

In certain circumstances we can also arrange discounted Debt Settlements to complete the Debt Management Plan sooner and provide substantial additional savings for you.

Your personal consultation and financial review with a Credit Consultant is free of charge.

If you choose a Debt Management Plan, a monthly administration fee, included in any quoted payment, is based on the number of creditors involved, the complexity of your case, and most importantly, your ability to pay. All fees will be outlined in detail once we have completed our review with you. As you are not borrowing money you do not pay us interest charges.

The substantial interest rate concessions we negotiate with your creditors will always well exceed any administration fees and result in significant cost savings.

Chances are your credit rating is already affected if you are experiencing debt pressures or missed payments. But, it may also be possible your debts are completely up to date as you are relying on additional credit to meet some of your expenses and payments.

When you enter a Debt Management Plan your creditors will report to the Credit Reporting Agencies that you are repaying your debts, but, now through a managed consolidation program. This will reduce your rating on those debts included, and lower your overall credit score, but, will not affect any secured debts outside the plan.

Information relating to your Debt Management Plan will be deleted from your credit record either 3 years after repayment of the Debt Plan or in 6 years maximum. The key to restoring your credit score and rebuilding your credit rating is repaying your debts.

No! When you file for bankruptcy all of your assets and debts are involved and in most cases your unsecured creditors will not be repaid at all. A complete discharge (legal completion) from bankruptcy is a minimum of 9 months, and up to 36 months. Your credit record will bear the lowest possible rating of R-9 and this will remain on your credit history for at least 7 years.

With a Debt Management Plan you will be repaying your debts in full, in good faith, under new terms arranged with your creditors for a payment and interest reduction plan that is now based on your ability to pay. You are asking your creditors to accept lower, or no interest and a smaller payment that will allow you to pay back your existing balance owing, and in much less time.

Your secured creditors and assets, including auto loans and your home mortgage will be unaffected.

Yes! Creditors use legal action, or more typically the threat of it, as an effective pressure tactic to encourage you to pay.

We can get involved at virtually any stage of the legal process and work towards an agreeable arrangement with your creditors. In addition we will deal with them directly to secure a payment schedule that is within your ability to pay and discontinue any legal action.

Once you are securely within the Debt Management Plan, with acceptances from the creditors, all collection and legal activities will end.

As we will manage the payments and relationships with creditors for you, it is critical that you discuss the situation with us if your circumstances change, or for any reason you are unable to make your Debt Plan payment, so we can make altered arrangements with the creditors. Creditors do have rules on missed payments and this could result in a default.

If your situation is short-term, we can hold or reduce your payment and advise your creditors of the reasons. If long-term, we will guide you on other options.

Yes! We specialize in discounted Debt Settlements with creditors when a lump sum of money is available. As well, if along the way you can afford a larger payment into the Debt plan, these funds can be accumulated towards a settlement. A Debt Settlement will always result in substantial additional savings to you and ensure the debts are repaid much sooner.

An administration fee is charged and is based on the number of creditors involved, the complexity of your case, and your ability to pay.

If you are experiencing difficulty meeting your expenses along with your monthly payments, feel you are struggling with your debts, getting collection calls or concerned about your financial future, then contact us today.

If you have a regular source of income, can live within a realistic budget, need one affordable monthly payment, and have a sincere desire to be debt free, you are a candidate for our program.

It is confidential and convenient. For a Free Consultation choose from three online services: a Full Review, a Quick Assessment or request more information or a call back from one of our Credit Consultants through Contact Us.

If you prefer, call us Toll Free at 1.877.556.3500

Yes, mydebtsolution.com, a division of Fraser Valley Credit Services Ltd, and all our consultants, are licensed by the provincial government. In addition, we maintain bank guaranteed bonds provided to the licensing authority as insurance for your funds held in our Trust Accounts.

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