Do you have unpaid debts? Are you starting to get harassed by collection agencies? Don’t worry!
First, understand that a call from a collection agency is not the end of the world. Your credit will not be destroyed immediately or irreparably simply because a creditor has sent your file off to collections. You still have time to pay what you owe or to settle your debt for less than what you owe through an NWT debt settlement.
Canadian law requires that your creditor notify you in writing that your file has been handed over to a collection agency. Thus, you should not even think about negotiating a debt settlement with such an agency until you have proof they own your debt. Furthermore, get every commitment that you or the agency makes regarding your debt in writing so that you have proof of any agreement that is reached if the agency tries to go back on its word. Written agreements and written certification that debt is paid will also be helpful if another collection agency later gets a hold of your debt and tries to extort money from you.
In any case, reaching a debt settlement in the Northwest Territories with your creditor or collection agency working on its behalf should be your goal. If you have fallen behind on your payments, it is likely because the debt amount is too high for you to repay. But if you come to a legal NWT debt settlement with the other party, you can pay off your debt for as much as sixty percent less than what you actually owe. This will be particularly helpful if you are having financial difficulties and do not have enough disposable income to meet your basic needs and pay your debt.
Because collection agencies and creditors are skilled at recovering money on their terms, it is essential to trust only a professional debt settlement company for debt settlement advice. Fill out the online debt relief form for help with debt relief in the Northwest Territories.