Many Canadians make big mistakes when they need debt help in North Bay. They are unaware that their Canadian Government provides debt counselling. In North Bay, there are several companies, such as David Reynolds and Associates (reynoldshelp.ca) that are licensed by the Government to provide debt help.
These professionals are able to analyze your financial position and make recommendations as to the best ways possible to get out of debt, how to maintain your budget and spending, how to fix credit ratings and much more. This is called “debt counselling”. In North Bay it is estimated that almost half of people are making only the minimum payments on their credit cards. If you’ve seen the credit card bills, you will see statements like “If you make the minimum payment, it is estimated you will be out of debt in ___ years”. Sometimes it’s 20 years, sometimes it 80 years. If you want to see the cost of making only minimum payments, take the minimum payment x 12 months x number of years. Depending on your interest rate, this number could be 15 times the amount you owe. For example, if the total you owe is $10,000 , it might be $150,000 to pay it back with minimum payments. OUCH!! If this situation sounds like you, you owe yourself to contact a licensed company, like David Reynolds and Associates, and get debt help in North Bay.
You would be very surprised how easy the solutions are. The hardest part is making the first call. Next thing you know, you are receiving the debt counselling help you need, in person, with a licensed professional.