Video for Canadadebtrelief.ca – Know your rights. Video by 500Bucks.ca ( 500bucksDOTca) voice by Lisa Morales. Get out of debt today with Canada Debt Relief, we have 25+ Years experience in helping people like you with your debts. Stop harassing creditor phone calls today with Canada Debt Relief. This is NOT bankruptcy.
Question by tinkerbell: Are debt relief agencies reputable or a scam? Know a good one to help me get out of credit card debt?
I have heard that some agencies take your money and don’t end up using it to pay off your debts. How can a person find one that will really help and how do they usually work?
Best answer:
Answer by slimick
Contact your local Red Cross for a referral to the local Consumer Credit Counseling Services (CCCS) in your area. They can negotiate much lower payments and interest rates. They DO NOT negotiate settlements.
They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to “enrolled in debt management.” This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program….so don’t use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you’re enrolled in the CCCS debt management program…. Otherwise, it can be a very good way to deal with your debt.
Please note that CCCS cannot perform miracles in situations where there is an overwhelming level of debt relative to your income/assets.
Know better? Leave your own answer in the comments!
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