This page will give you some information about the most common paths out of debt. If you have a specific question, we can meet face to face either in my office in Nanaimo or at a comfortable location in your town (I travel north to Campbell River and west to Tofino).
You can also email me your questions. My contact info is on the right.
Common debt relief options
- Consolidation Loan
- Formal Consumer Proposal to your creditors
- Informal proposal to your creditors
- Formal lump sum debt settlements
- Bankruptcy
- Real-life Budgeting
I'll help you steer clear from some of the pitfalls of staying in debt. From my work in the Nanaimo region, I've found that most people stay in debt because of the following reasons:
- Making minimum payments, interest-only payments, or using one credit card to pay the minimum payment on another
- Getting a consolidation loan that only consolidates some of the debt or charges exorbitant interest rates.
- Procrastination, often disguised by the belief that you should be able to fix this on your own...it's okay to ask for help!
- Fear of the unknown, I'll guide you one step at a time. It may be scary but I'll be there to answer your questions.
- Fear of being judged. Although I want to hear your story, I won't judge you.
Getting out of debt is about building a strong financial future. It's not about mistakes made in the past.
Written by Anna Martin
Spendaholics carry a disease called debt and it's a killer. Side effects are guilt, shame, stress, denial, loss of sleep and so much STUFF there's no room for people. Early diagnosis is key but prevention is better. Take heart, with the right program this disease is curable. This spendaholic went from earning a six figure annual income for over a decade to the poverty line carrying almost $100,000 of debt. Read the story of the comeback, follow the steps, implement the program and take heed. In today's economy - you could be next.
Read more about the book here on Amazon: Spendaholics Anonymous: Debt shouldn't be a Life sentence
Here's how I help you get out of debt. While every debt situation is different, this is the basic process you can expect to occur.
Don't forget to read stories at the end of this page from Nanaimo and Vancouver Island families I've helped. They will show you that your financial difficulty is temporary and it does get better.
Analyze your debt situation
First, we can have a short call or meeting in Nanaimo where I can give you more information about the common debt relief options. In this meeting or call, I will hear your story and analyze which option is right for you.
Meet for a free consultation
After the first analysis, we meet for a free consultation. This helps me to better understand your financial situation and can explain your options to you and layout a plan to move forward.
In this consultation, you'll likely have lots of questions. For example, many couples worry about the effect of solutions like consumer proposals on their credit, whether they will be able to keep their mortgage and the long - term impact of debt settlement on your credit rating.
Decide on path forward
After our consultation, I'll help you choose a path forward. You'll have lots of information, guidance, and will understand the basic debt settlement and consolidation options out there.
I'll be here for you during this important step and give you my professional assessment of which option to go with.
Complete the debt restructuring plan
A detailed plan is created to repay a small portion of the debt based on your financial situation with lower monthly payments and NO interest.
Help with budgeting and debt management
I then help you build a personalized budget and help you keep on track. As your creditors won't be calling and you'll have me for support, you'll be able to breathe easier, sleep better and feel confident about your direction knowing that you can manage your money and save for the future.
Rebuild your credit
We prepare a step - by - step plan to rebuild your credit. This is a very exciting time as the worst is behind us and you are now rebuilding your savings and credit and reclaiming your financial life.
This is the last and final step.
I am truly passionate about helping people and/or businesses improve their financial lives by helping reduce debt, increase cash flow and helping people protect their assets. Nothing gives me greater joy in business than seeing people's lives very much improved by this process of debt consolidation and restructuring.
Benjy Houser on Vancouver Island is helping his clients deal with overwhelming debt. It is estimated that more than 25% of all mental health issues are caused by debt. On this program Benjy and his client discuss her journey to get help and move her life forward.
I work by appointment and is therefore able to meet after hours and even on weekends.
My office is located at: 501 - 65 Front Street, Nanaimo, BC V9R 5H9
Here are a few of my business links:
Here is my LinkedIn Profile Page: LinkedIn Profile
BBB Listing: BBB Listing
Here is my Facebook Profile Page: Facebook Profile
