Debt Relief in Action
At Debt.ca, we understand that people might find themselves surrounded by debt for many reasons including job loss, reduced income, medical expenses, or even the rising costs of raising a family. And when faced with a mountain of consumer debt, it is quite easy to become overwhelmed and to believe that you will never be able to pay off your creditors. The high-interest rates associated with consumer debts, late fees for those who are behind on their payments, and much more can seem to conspire against your attempts to become debt free. That is why we want to help all Canadians better understand their debt relief options and save the most money while they get out from under their unsecured loans. Are you struggling with debt or trying to figure out which Canadian debt relief program will help you get out of debt in the quickest amount of time and for the least amount of money? If so, let us show you that you can live a life free of bills and you do have more options than you probably realize. Simply put, if you are paying out more money every month than you have coming in, we can get you to a professional who can help. Fill out the form above to get started today!
If you need credit counselling services in Laval, Debt.ca has many solutions available to you. With debt being among the main concerns of Laval families, we have an array of options to get you out of debt and out of the negative. If you live in Laval and continue seeing your overall debt levels monthly, then credit counselling may be your best option. Quality credit counselling services in Laval or a debt settlement program can help you get out from under your debt and shore up your financial future at the same time.
Residents of Laval often confuse debt management plans with credit consolidation, because they have some similarities. For instance, both programs entail converting several debts into one monthly payment for ease of tracking. However, you still owe the original creditors when you enroll in a debt management plan (DMP). Conversely, you only owe one entity when you participate in a debt consolidation loan. If you’re considering a DMP in Laval, you must have a steady source of income. While DMPs serve those with more than $10,000 of debt, homeowners may have to cash out equity instead. Likewise, individuals who have funds in their RRSP may have to use those funds to pay off the debt in lieu of enrolling in a debt management plan. Speak to a counsellor in Laval to determine if a DMP is the right option for you.
As a citizen living in Laval, it’s not uncommon to fall on hard times. If you’re experiencing difficulty keeping up with your financial obligations, debt consolidation may be your best option to get back on track. As such, consolidating your unsecured debts can make managing your payments easier. For example, multiple credit card debts and other liabilities combine into a single monthly payment. This makes it easier to prepare for and remember when just one due date is approaching every month. In addition, that single payment can be more manageable, with a lower interest rate than the existing rates on your different debts. While there are different ways to consolidate your debt, the most common way is through procuring a loan. However, your ability to qualify for a consolidation loan depends on your current credit score. Learn more about the debt consolidation process in Laval here.
To file a consumer proposal, Laval residents must go through a Licensed Insolvency Trustee in the area. Consumer proposals allow their participants to pay back less than what they owe to their creditors. Despite how good that sounds, it comes with some drawbacks and should be a last resort, much like bankruptcy. To qualify for a consumer proposal in Laval, individuals must know to owe more than $250,000. Likewise, a married couple filing jointly cannot have more than $500,000 in debt. Paying less than what you owe at a lower interest rate comes with some heavy consequences. For one, your credit score drops to the absolute lowest it can go. In addition, the consumer proposal will remain on your credit report up to three years after you complete the five-year program. This can make acquiring credit or buying a home or auto more difficult. Speak to a member of our team who understands the laws regarding consumer proposals in Laval today.
Many people living in Laval can find it difficult to keep up with the cost of living. If your debts have been piling up to an unmanageable amount, declaring bankruptcy might be the solution to your money troubles. However, one must never take bankruptcy lightly, as it is only a last resort. Speaking to a Licensed Insolvency Trustee can shed some light on your options and inform your next steps in finding a fitting solution. Remember, declaring bankruptcy gets most of your debts forgiven, however you forfeit most of your valuable assets in return. In addition, you will no longer experience wage garnishments. Conversely, you may not be able to obtain credit for seven years, and there is a limit on how much you can earn during bankruptcy. If you’re thinking about filing for bankruptcy in Laval, call us to speak with a professional who can help.
In 2020, 366 Laval residents reached out to debt.ca to finally tackle their debt problems. They were struggling with an average debt load of $17,834 but now have the help they need to get their finances, and their life, back on track.
If you are struggling to make ends meet, apart from seeking professional credit help, there are several national, state, local government agencies, along with non-profit organizations, you can turn to:
Laval Service Canada Centre
1041 Boulevard des Laurentides
Laval, Quebec H7G 2W2
- Unemployment Assistance
- Child Benefits
- Senior Assistance
Canada Employment Dept
1800 Boulevard Le Corbusier
Laval, Quebec H7S 2K1
CRA - Canadian Revenue Agency
3400 Avenue Jean-Béraud,
Laval, QC H7T 2Z2
4 Place Laval
Laval, QC H7N 5Y3
Volunteer Center and Harvest - Laval
1870 Rue Michelin
Laval, QC H7L 4R3
Centre d'Implication Libre de Laval
156 Boulevard des Laurentides,
Laval, Quebec H7G 2T5
7066 St Hubert St,
Montreal, Quebec H2S 2M9
Quebec Addiction Counselling
Gambling - (514)527-0140
Crisis Helpline (866) 277-3553
Debt Consolidation Loans
Debt Relief Loans
Consumer Proposal Loans
Additional Credit Counselling resources available in:
|Q4 2020||Q3 2020||Q4 2019|
|Laval in Total||274||270||492|
|Average Credit Score||663|
|Average Home Price||$349,000|
|Total Insolvencies:||1,237 *(- 64%)|
|Av Assets / Insolvency||$74,255 (- $3,117)|
|Av Liabilities / Insolvency||$103,506 (- $8,700)|
|Debt Ratio:||139% (- 6%)|
|Bankruptcies||492 *(- 78%)|
|Av Assets||$27,953 (- $4,559)|
|Av Liabilities||$83,233 (- $15,396)|
|Debt Ratio:||298% (- 5%)|
|Consumer Proposals||745 *(- 54%)|
|Av Assets||$104,833 (- $6,603)|
|Av Liabilities||$116,894 (- $5,621)|
|Debt Ratio:||112% (+ 2%)|
* % change from 2019
Located in Southwestern Quebec, Laval is a French-speaking city just north of Montreal. Although Laval is part of the greater Montreal area, it’s a municipality on its own. Not only that, it’s Montreal’s largest suburb and the thirteenth-largest city in Canada. Laval had a population of over 420,000 in 2016.
Similar to Montreal, Laval is an island. Actually, it’s two islands to be precise. The city of Laval includes both Île Jésus and Îles Laval. Laval is separated from mainland Quebec to the north by Rivière des Mille Îles and by Rivière des Prairies to the south.
The first European colonists to arrive in Laval were the Jesuits in 1636. For the next 200 years, Laval was mostly rural. At the beginning of the 20th century, Laval started to become more urbanized. Laval-des-Rapides became Laval’s first city in 1912. Laval-sur-le-Lac would go on to become a popular destination for tourists from Montreal. The area grew over the years due to its close location to Montreal.
To help deal with the issue of duplication of government services, the government of Quebec decided to amalgamate Laval. The city of Chomedey was created in 1961. The amalgamation was such a success that the whole island became the city of Laval in 1965.
Laval is often dismissed as a suburb of Montreal when it’s so much more. There are plenty of fun things to see and do there. If you’re into outer space exploration, you’ll want to visit Laval. It has one of only five space camps in the world, Space Camp Canada, there. It also has the Space Science Centre. The Space Science Centre is fun for people of all ages. The life-sized space shuttle makes it worth a trip on its own. If you’re into the outdoors, visit Centre de la nature. Centre de la nature is the largest park in Laval. Opened in 1984, the park features 50 hectares of nature to explore
Traditionally Laval has relied on agriculture and limestone as its main economic drivers. Other industries that play a key role in Laval’s success include metallurgical, pharmaceutical and food products. Laval has the largest number of pharmaceutical labs throughout the city.
To help promote economic growth in the area, Laval Technopole was created in 1995. This non-profit organization’s prime objective was to attract businesses and investment to the area.
Laval has a highly diversified economy. Its main industries today include commercial, manufacturing, agri-goods, metal products, and dynamic professional and scientific services.
Laval is home to four successful industrial parks. The first, Industrial Park Centre, can be found at the centre of Laval. It’s one of the largest industrial parks in the province of Quebec. The three other industrial parks are Autoroute 25 Industrial Park, Industrial Park East and the Laval Science and High Technology Park. These industrial parks provide hundreds of jobs to the city’s residents.