Effective Ways to Pay Down and Get Out of Debt in Canada

Effective Ways to Pay Down and Get Out of Debt in Canada

When it comes to debt, there are few people who can claim they are debt-free. Unfortunately, many people rely on debt too heavily, resulting in them struggling to pay off bills and gain financial freedom. The good news is, even if you have found yourself in a bit of trouble debt-wise, there are options. One option is to consider debt restructuring and financial rehabilitation, with companies such as 4 Pillars.

Some other tips to help you get out of debt, and remain debt free, can be found here.

Pay More than the Minimum Required Payments

It is important to always pay more than the minimum required payments on credit cards, a line of credit or overdraft. If you are only able to make the minimum payments on your credit cards every month, then it can take virtually forever to pay off the balance. Even an extra $50 per month will be beneficial.

Try to Spend Less

Everyone wants more money to spend, but you have to be realistic about the situation. Rather than buying everything you want, cut corners and go without. This doesn’t mean you have to sacrifice lunch or other necessities, but you can forego a second cup of coffee from the corner store, or eating out several times a week. If you find you still need more help, a consultation with 4 Pillars can be beneficial.

Debt restructuring and consolidation services from 4 Pillars are beneficial to many people and many have found that it is much easier to overcome debt with help from those who fully understand the situation.

Learn more about debt restructuring services by visiting the 4 Pillars website.

Disclaimer: All 4 Pillars Debt Relief Specialists are independent consultants that represent and advocate for the debtor during their insolvency and throughout their financial rehabilitation. 4 Pillars Debt Relief Specialists are not Licensed Insolvency Trustees, Lawyers, or Non-profit Credit Counsellors.

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