.gif){kind=spacer}
When meeting with clients I have often found that the solution to their problem is very clear to me, being on the outside looking in. However for our clients, deeply involved in the day to day struggle with their debt, there seems to be no solution. Managing money is not a skill we are born with, we have to learn, and often we have to learn the hard way, by making mistakes and recovering from them. Everyone deals with money problems at some point in their life. Taking action and making a plan to deal with the problem early is critical.
In many cases the financial trouble can be weathered with a combination of "belt tightening" and effective budgeting, sometimes this may be accompanied with re-financing and consolidation of your debt through your bank. This is where the solution to any financial problem should start, with you taking control and making a plan. If this does not work then you may need some help to recover.
Sometimes all you need is a little help getting your budget under control. In these cases a credit counselor can help, if necessary they can negotiate with your creditors and arrange payment terms that you can handle typically with interest relief and extended payment terms. Such schemes are known as Debt Management Plans and are very helpful for clearing away smaller accumulated debts. In addition you can select which debts you want to make part of the plan allowing for much greater flexibility than a formal filing with a Trustee.
If you have tried both of these approaches, and you are still in trouble, then you may need the help of a Trustee to get things back under control.
If you are dealing with money problems and don't know what to do call us at 310-PLAN to speak to a Trustee today. Even if it turns out you don't need a trustee, we can help you figure out a solution to your money problems.
posted by Brian McIlmoyle @ 3:55 PM
0 Comments:
Post a Comment
<< Mississauga Ontario Personal Bankruptcy Blog