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Do you need debt counseling?

Debt counseling is just a way to get assistance to tackle debt problems. However, many either haven’t heard of it, or shy away it, or don’t even think of it as an option. The honest truth is that everyone needs help from someone who knows their trade. For example, when you have dental problem, you visit the dentist. And just like that when you have debt problems, debt counseling can help you out.

So, how do you know you need debt counseling?

Bad Credit Score

Well the first sign that you have a debt problem is when you have a bad credit score. A score below 400 is definitely not a good credit score. It shows that you have a high debt and you aren’t able to keep up with the payment.

High Debt Amount

It’s pretty self-explanatory – you have a high debt amount, but it definitely gets worse if you don’t have a clue as to how it got so high. Late payment fees and interest rate would largely be responsible for an increasing high debt amount.

That Overwhelming Feeling

Do you have that overwhelming feeling where you just can’t manage, know, or understand how you’ll be able to pay the debt? You may feel this when your income is not sufficient to keep up to all the monthly payments. Everyone feels it, and it is an overwhelming feeling of fear. The best thing you can do is tackle your debt head-on with advice from a debt professional.

Debt Collectors Knocking on your Door

Ignore your debts long enough and lenders will send debt collectors after you. Debt collectors tend to be aggressive in their methods. From frequent calls, regular home visits, maligning your name, physically intimidation to legal threats, there’s a lot in the arsenal of debt collectors; most of them illegal. You need to know your rights to assert it and get debt collectors off your back.

You Ignore Debt

The biggest sign that you need help with managing your debt is that you totally ignore it. You ignore the letters from your lender and ignore the bills from credit card agencies. That’s a sure sign that you have a debt problem.

A debt counselor knows the ins-and-outs of how Canadian debt system works and will be able to offer effective ways to help you deal with it. At 4 Pillars, you can access the best debt consultant who can help you.

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