An informal debt settlement is a voluntary arrangement negotiated between you and your creditors, without the comfort of ensuring you have a legally binding agreement and the step-by-step guidance provided by a Licensed Insolvency Trustee.

An informal debt settlement is a voluntary arrangement negotiated between you and your creditors, without the comfort of ensuring you have a legally binding agreement and the step-by-step guidance provided by a Licensed Insolvency Trustee.

If you have concerns about the proposal, the first thing I would:

When individuals can no longer service their debt, it creates significant issues for both the borrower — who may find themselves in an ever-worsening cycle of debt — and their lender(s) who are having trouble recovering the money owed to them.

That’s a good question, and one that might produce some surprising answers. There’s no one size fits all solution to debt.

If your debt payments have become overwhelming, Consolidation can be the answer. There are numerous ways to consolidate your debt, but generally it involves lumping most or all your balances together into a single affordable payment. Here are just a few Consolidation options that come with their own benefits and also some potential risks.