Are You Struggling With Debt?
Debt reduction is a process where a licensed trustee negotiates on your behalf with creditors to reduce your total debt to an amount you can afford. Our trustees will usually be able to reduce your total debt by up to 70-80%. Apply here!
Not sure if debt reduction is right for you? Read Jacob’s story below to see how it transformed his family’s life.
Jacob's Story
At the beginning of 2020, my family was in debt of over $80,000. Our monthly debt interest payments were $1800 per month and increasing daily. Fast forward to today, and our monthly payments are $350 per month, and we’re on track to being debt-free in 3 years.
I work in retail, and my wife is a receptionist. We have two lovely young girls, and they are the light of our lives. We live in a charming small home in a quiet suburban neighborhood. We live very simple lives - nothing about our lifestyle is extravagant. From the outside, there is nothing that would make people think we would have excessive debt.
But almost every family understands the stress of how quickly expenses add up. We want to give our children the best. We want them to have dance classes with their friends. We want to provide them with the best food and nice clothes. And with credit so easy to get, it’s easy to fall into the trap. We always excused it and said we would pay it next month. But each month, it became more and more difficult.
Then in 2020, the unexpected happened, and we both lost our jobs. We were fortunate enough to have support from the government, but our expenses were too high at that point. So we did what many Canadians did - we used our credit cards. Again, we excused it and said we would pay it after the shutdown ended. But we didn’t, and by the summer of 2020, our debt ballooned to over $80,000.
Our Options
After seeking advice, we learned that a close friend had been in a similar situation. They told us about how they used a debt reduction program to get their family out of debt.
After doing some research, my wife and I decided to connect with Debt Refresh. We were very nervous to call. We were expecting to deal with an aggressive and judgmental person. But we experienced the opposite.
The person on the phone was incredibly compassionate. They took the time to lead us through the entire process and answered any questions we had. After a few weeks of back and forth, we decided it was time to move forward and apply. It was time to get our family back on track. And Debt Refresh did.
They negotiated with the credit card companies on our behalf and reduced our total debt to just under $15,000. Our monthly payments are now only $350 per month. The best part is that we’ll be debt-free in a few short years.
It’s been six months, and we no longer feel like the world is crashing in on us. Our phone calls are no longer ringing from debt collectors, and our family is at peace for the first time in years. If you’re in a similar situation to ours, I highly recommend you apply with Debt Refresh - it really can transform your life.
Why Debt Reduction Helps
47% of Canadians are currently struggling with debt. Contrary to popular belief, debt reduction helps you rebuild your credit faster than maintaining your payments on your current debt. Many Canadians in debt currently only make the minimum payments and continue to pay more and more as interest rates increase. Entering into a debt solution will enable you to reduce your total monthly payments into one you can afford.
If You Need Help Like Jacob
If you’ve found yourself in a similar financial situation to Jacob, consider trying Debt Refresh. If you meet certain requirements, we can help!
Eligibility Requirements
- Must be a Canadian citizen
- Must be at least 18 years of age
- Minimum $10,000 in debt
Why Choose Debt Refresh?
- Free consultation with one of our team members
- Easy approval process - only takes a few minutes
- Amazing support staff to guide you through the process
- Payments as low as $200 per month
- Completely online
- Your information will always remain confidential
- Get your options/offers within 24 hours
