I’m In Financial Trouble, What’s the First Step?
You’ve looked at your finances and you are carrying way too much unsecured debt. You’ve recognized the warning signs such as paying credit with credit. You’re having trouble making ends meet every month. You can only afford to pay the minimum payments and find every month the balances are creeping upwards. It feels like you are thinking about your debt every waking minute. You know you are in trouble, what do you do now?
Your first step should be to find independent financial advice. You need someone who will take the time to review your situation with you, in detail. They should be able to clearly explain to you exactly how serious your situation is and then give you a detailed breakdown of what options are and aren’t available to you. Sometimes understanding what you can’t do about the situation will help you understand what you need to do. And you should be able to find someone who will give you this initial guidance for free.
If you are like thousands of other Canadians you may find yourself in a situation in which the best ways to resolve your financial problems are with either a consumer proposal or a bankruptcy. These can be very effective ways to deal with debt but you need to be sure you are choosing the process that is best for you. How do you know, you’ve never done this before? This is once again where the independent professional advice comes in. Your professional should explain to you exactly how the two processes work and the fundamental differences between them. Understanding the details and nuances of each process will help you make the best choice and ultimately help ensure you are doing the best thing for your future.
Working with an independent adviser like a 4 Pillars consultant will ensure you get the best, honest and most accurate advice available. There are others out there who will give you the solution that works the best for them or not provide you with the details you need to make the best decision for your situation. In the end you could make a very bad decision because you did not seek out someone who is truly looking out for your best interests. There is a great deal of misinformation out there and it can be a daunting task to get the right information. Help could be closer than you think, 4 Pillars always offers a free initial consultation and will take the time you need to get the facts and help you make the best possible decision in a very trying time.
About the Author:
Trevor Glasser owns the 4 Pillars Consulting Oshawa, On Office helping people get out of debt every day. If you need a free consultation to understand your options please feel free to contact Trevor at 905-243-8765 or www.goodbyedebt.ca.
