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About Debt Settlement

If you are in financial distress and considering Credit Counselling, Debt Consolidation or Bankruptcy read these common questions about Debt Settlement to learn how it works and see if you qualify!



Is Debt Settlement similar to other Debt Services?

piggy bank with credit cards

Most people are unaware that Debt Settlement (or Debt Arbitration) IS NOT the same as Debt Consolidation, Credit Counseling or Bankruptcy.

Many debt consolidation and credit counseling programs available today DO NOT decrease the amount of debt you owe.

Often, they combine your current balances into one new loan, add a fee for service, and then you pay off this NEW LARGER DEBT over an extended period of time.

Unfortunately, this can take years to resolve!

 

What exactly IS Debt Settlement?

happy person with piggy bankGreat question, we're glad you asked!

Debt Settlement...

  • is an ALTERNATIVE to other debt services and could eliminate your need to seek other debt services programs.
  • is a private service that assists Canadians with the process of negotiating debt FORGIVENESS by seeking a ONE-TIME settlement on your behalf that is often 50% to 80% LESS than what you owe.

Debt Settlement Example

Unlike Credit Counseling, Debt Consolidation or Bankruptcy, your Debt Arbitrator will negotiate with your creditors to have a portion of your debt FORGIVEN.

For example, if you owe a debt of $10,000.00 and you offer this creditor a one time lump sum payment of $2,000.00, when the offer is accepted, your creditor will forgive the remaining $8,000.00 and close the account.

Yes, it is true! With Debt Settlement you could see 50% to 80% of your debt FORGIVEN!

 

Is Debt Settlement right for me?

sad person with broken piggy bank & band-aidOur Debt Settlement Program is ideal for individuals with debt in arrears or collection, who are considering the need to file bankruptcy or consumer proposal.

Read the following criteria to see if Debt Settlement is right for you:

  1. You owe at least $5,000 in unsecured debt - i.e. credit cards, loans, line of credit.
  2. You are unable to make, or continue to make your monthly minimum payments.
  3. You have frequent creditor calls coming in.
  4. You wish to avoid filing bankruptcy.
  5. You want to take back control of your money and are ready to take action.

If you meet the above criteria you may qualify for Debt Settlement. Contact us right away before seeking credit counseling, consolidations or bankruptcy. We are happy to offer you a FREE consultation to see if Debt Settlement is right for you.

 

Why choose 2nd Chance Debt Arbitration Service?

If you are in financial crisis and looking for relief then you've come to the right place! Here are a few really big reasons why you should look into our Debt Settlement service:

Peace of Mind

2nd Chance Debt Arbitration Services will engage in debt arbitration with your creditors for you and will have creditors stop calling you. We work 100% on your behalf exclusively, and never for your creditors.

Financial Security

We are focused on giving you and your family that second chance at becoming financially secure. Our goal is to reduce your outstanding debt by 50% to 80%.

Knowledgeable Guidance

We will help you understand your options and legal rights.

Sustainability

In addition to helping you settle your debts, 2nd Chance will show you strategies on how to build financial strength going forward.

Experience, Respect & Compassion

Last but not least, Colleen at 2nd Chance Debt Arbitration Service is a dedicated professional within the debt settlement industry and an active Member of the International Association of Professional Debt Arbitrators. She understand the issues you are facing,  and can provide ethical, compassionate and personalized assistance to you during this financial crisis.

 


"Our families don't just get debt free: They get that 2nd Chance!"

Call (604) 544-3039 or email 2nd Chance today for a FREE CONSULTATION


 Visit the International Association of Professional Debt Arbitrators website - opens in new window Visit BNI Driven Dragons -  Richmond Chapter website - opens in new window