/ Archive by category 'Debt Relief Tips'
I came across an article from reportonbusiness.com yesterday that supports the idea that the Canadian economy is not in a recession. And by true definition of a “recession” maybe the people over at reportonbusiness.com are right…. However…
These reasons are always followed up with a litany of reasons why debt consolidation is a bad idea. There are a few negatives associated with debt consolidation – if you don’t make changes in your mindset and the way in which you deal with money.
You’ve seen TV ads from personal bankruptcy lawyers telling you about all the ways filing for bankruptcy can help you. What they don’t tell you is that there are some severe limitations. Here are some of the things that it CAN’T do:
Stop Repossession – Filing for personal bankruptcy won’t stop repossession, so if you’re behind on your payments and you file for bankruptcy protection, you can kiss your car goodbye. It will delay the process, so it can be a long goodbye. The only way to stop the repossession process is to get current with your payments. If you can’t catch up you need to face the harsh reality that you can’t afford to keep it and you’ll probably need to get used to walking.
It’s happened countless times in Canada with dishonest consumer credit counseling services:
The culprits in these schemes? Bad apple consumer credit counseling services whose agenda isn’t in helping you, but helping themselves – to your cash.