Bankruptcy Trustee Cambridge – Access Mortgage
Have you been considering advice that has been given to you from a bankruptcy trustee in Cambridge that suggests that you file for bankruptcy, consumer proposal, or credit counselling in order to get out of debt? Well if so, Access Mortgage is here to tell you DO NOT LISTEN TO THIS ADVICE! If you are thinking about filing for bankruptcy, credit counselling, or consumer proposal, the professional team at Access Mortgage wants to hear from you first. There may be better options for debt relief like, debt consolidation and refinancing, that DO NOT damage your credit long term. It is possible that a bankruptcy trustee in Cambridge will not advise their clients that a bankruptcy or consumer proposal can damage their credit history for up to 7 years! Don’t cripple your credit. Instead, contact Access Mortgage today and get back on the path of financial freedom. Read on for more information about bankruptcy trustees.
What is a bankruptcy trustee?
Trustees are bankruptcy specialists and they are the only persons that may administer bankruptcies and proposals in Canada. This is an important distinction because in recent years, a new industry has developed in Canada that calls itself “debt consultants”. These debt relief agencies charge you a fee to advise you on how to deal with your debts. Once the fee has been paid they refer you to a licensed trustee to actually do all of the work. Debt consultants are not breaking any laws, but since most trustees will meet with people for free to help them sort out their financial problems, you should never have to pay a referral fee to see a trustee in bankruptcy in Canada.
What are the benefits of a debt consolidation as opposed to a bankruptcy or Consumer Proposal?
Debt is paid off quicker:
A debt consolidation is the quickest way to pay off your debts. It will help you become debt free as quickly as possible. Once you have negotiated with your creditors you can pay them off and them have one single monthly payment to repay the loan. This payment will probably be less than you’re used to paying with all of the unsecured debt that you owe. This extra cashflow will allow more of your money to go towards paying off the principal of your debt instead of the interest that your debts were accumulating.
One easy affordable payment:
You’ll only have to worry about making one monthly payment. You’ll make your payment to loan instead of to multiple debts and credit cards. Debt is extremely stressful and trying to juggle multiple monthly payments to multiple creditors only makes the whole situation worse. Consolidating your debt means that you won’t have to be harassed by collectors anymore.
Will not damage your credit:
One of the best parts of a debt consolidation is that you’ll be avoiding more serious financial outcomes, like filing for bankruptcy or a Consumer Proposal. A Bankruptcy or Consumer Proposal can be the best choice for certain people, but if it can be avoided, it should be. With a debt consolidation you’re still paying off your unsecured debts in full which means your credit history won’t have the big black mark of bankruptcy on it. Maintaining your credit score while trying to become debt free is extremely important. There’s nothing worse than fighting your way through debt to pay it off only to then realize your credit score has been shot.
If you have been considering the advice from a bankruptcy trustee in Cambridge that wants you to file for bankruptcy, consumer proposal, or credit counselling, DO NOT DO IT. There are better strategies and options available, and Access Mortgage can show you what those strategies are. Avoid damaging your credit for up to 7 years! Contact the professional team at Access Mortgage today.
For more information about a bankruptcy trustee, please feel free to continue browsing through our website. Click here to find our contact information and to fill out our contact form.