Are you struggling with debt and looking for a solution? A Canadian debt relief program is an ideal way for consumers to achieve the goal of debt freedom, but there are other options as well for getting out of debt. One of these is credit counselling, which is offered by several companies and non-profit organizations in the Yukon.
What is Yukon Credit Counselling?
In the Yukon, credit counselling follows the basic strategy of education and negotiation. First, credit counselling provides negotiation help with your creditors with the aim of getting them to reduce your interest rates and arrange lower monthly payments to make debt repayment less of a burden. Residents with reduced payments and interest charges are able to pay off what they owe more quickly than if they did not get the help of credit counselling.
Second, Yukon consumer credit counselling provides budgeting help and financial education to those who participate in the program. By learning how to live on a budget, consumers are able to avoid further out-of-control indebtedness in the future.
One important point to note is that credit counsellors, though they are often able to achieve substantial interest rate reductions and debt consolidation solutions, they do not usually do as well with reducing consumer debt levels as debt settlement programs do. If you have a large amount of consumer debt, it is wise to consider debt settlement in order to get the best overall savings.
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