Professional Debt Relief in Canada
Take back control of your finances and call our team of Licenced Insolvency Trustees today. Together, we’ll find a way for you to live debt-free.
Safe, secure & confidential
Debt relief solutions catered to you
We understand that financial hardships can be stressful and daunting, especially if you are on the verge of bankruptcy. But you don’t have to go on this journey alone. At Harris & Partners Inc., we are here to support you with judgement-free debt relief solutions.
We take the time to learn about your specific situation and guide you through the process of debt reduction in Canada, paving the way for you to regain financial stability.
Professional debt help tailored to your circumstances
With over 50 years of experience, we can support you in a range of debt relief solutions that can help you manage, and eventually pay off, your debt.
Ready to lead a happier, stress- and debt-free life? Get in touch with our friendly Licensed Insolvency Trustees and get started with a debt relief program.
Our Debt Management Solutions
Debt help in Canada - it's a simple process
We’ll sit down with you and take the time to thoroughly understand your unique financial situation. We will provide a non-judgmental, fully confidential environment where you can discuss your circumstances openly and honestly. To give you the best advice, we’ll need information on your income, debts and who you owe money to.
Once we’ve grasped the full extent of your challenges, we’ll start crafting a plan. This involves carefully examining every available debt solution option, with a commitment only to what you feel comfortable with. We will never pressure you into any decisions, and our services will be tailored to fit your specific needs.
Once you’re happy with the plan, we’ll put it into action. Your financial well-being is always our top priority, and you can trust us to provide unwavering support and reliable guidance every step of the way. Your peace of mind matters to us.
The types of debt we can help with
We specialize in a broad range of debt relief services that address nearly every financial obligation you might face. Feeling overwhelmed by debt? You’re not alone. We understand whether it’s the stress of a credit card balance, the worry of falling behind on your car loan, or the anxiety that comes with student loans.
If you’re juggling bills like medical expenses, tax obligations, or utility payments, we’re here to offer a helping hand. And for those dealing with mortgage concerns, payday loans, or any secured or unsecured debts — including those pesky cellphone bills and lines of credit — our team is ready to listen and guide you through.
Reach out to our team today; we can set you on a path to financial freedom together.
5 steps to debt relief in Canada
Facing debt can feel endless if we don’t find ways to manage and curb it in our day-to-day lives. To help lighten your load, we suggest using these five steps in your path to debt reduction in Canada:
Step 1. Create and stick to a budget
Creating and living within a budget is the first step in tackling your debt. Start by understanding your monthly outgoings and spot areas where you can cut back a bit. Try to save at least 10% of your monthly income. This can help you to:
- Gradually lower your debts
- Create a funds to offset your debts
- Develop a safety net for life’s unexpected expenses
- Form stepping stones towards investing in your future
Step 2. Prioritize the debts with the highest interest rates
When you are juggling various debts with different interest rates, it’s key to strategise which one to tackle head-on first. It’s important you always cover at least the minimum payment on each debt, but any extra money should be directed at the debt with the highest interest rate, as this is the debt that will rise the most over time.
Step 3. Shift your debts from high to low interest rates
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
For property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
Step 4. Increase your income
If feasible, seek opportunities to boost your monthly income. Even the smallest amount contributed towards your debt can make a big difference. Consider working overtime, or possibly taking a second job, as the added income can ease your debt repayment journey. Alternatively, housing a roommate or tenant could provide supplementary income, accelerating your debt reduction.
Step 5. Set up a personal payment plan
Paying off debt, like achieving any goal, requires a clear plan. Establish specific objectives to minimise your debts. Credit counselling can offer a fresh perspective on your spending and help in realigning your habits with your new financial goals.
Create for yourself a payment calendar with due dates and expected payment amounts. You could even consider applying for overdraft protection, alongside automating bill payments through your bank or online platforms so that you don’t miss payments.
Example Savings With Harris & Partners Debt Relief
Your Potential Debts:
Your monthly repayments over a 60-month period would be
Before Help
$1409
After Help
$210
Monthly payments are determined based on individual financial factors
How Much Could I Save?
What to look out for when choosing a debt settlement company
It’s a sad reality that some debt consultants engage in misleading practices that can leave you in a worse position than when you started. Here’s what to be cautious of if you’re exploring debt settlement through consultants:
Transparency
A trustworthy partner should be an open book about their processes, fees, and what you can realistically expect. Beware of those hiding details or the fine print.
- Gradually lower your debts
- Create a funds to offset your debts
- Develop a safety net for life’s unexpected expenses
- Form stepping stones towards investing in your future
Credentials
Legitimacy comes with proper recognition and accreditation. Verify that any firm you consider is backed by respected industry bodies.
Track Record
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
For property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
Fees and Conditions
Understand exactly how the company’s fees work and any conditions that apply. Avoid companies that charge fees before they have successfully settled your debts.
Impact on Credit Score
Be aware that debt settlement can affect your credit score. A trustworthy company will explain these impacts and how they plan to mitigate them.
No Pressure
A reputable debt settlement company will never pressure you into quick decisions. They should provide plenty of information and allow time to consider your options.
Personalized Approach
Each financial situation is unique. Choose a company that offers tailored solutions rather than a one-size-fits-all approach.
Our Licensed Insolvency Trustees - assisting Canadians with professional debt relief
With our Licenced Insolvency Trustees, you’ll never have to worry about the above. Choosing a Licenced Insolvency Trustee means working with a regulated, highly trained professional committed to guiding you with integrity and empathy. Reach out today for customized support – together, we can help you on your way to financial independence.
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Jay T. HarrisFCPA, CIRP, LITLicensed Insolvency Trustee -
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Kyle HarrisLL.B., CIRP, LITLicensed Insolvency Trustee -
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Adam FisherCPA, CIRP, LITLicensed Insolvency Trustee -
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Joshua HarrisBCOMM., MIB, CIRP, LITLicensed Insolvency Trustee -
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David AdamsLicensed Insolvency Trustee -
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Doug LoiselleLicensed Insolvency Trustee -
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Robert McLernonBComm, CIRP, LITLicensed Insolvency Trustee -
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Shelley KoehliLicensed Insolvency Trustee -
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Jill StruebyLicensed Insolvency Trustee
Why Harris & Partners
Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.
Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.
Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.
Frequently asked questions
How does debt relief work in Canada?
Debt relief programs in Canada aim to make repaying your debt easier through various strategies. How they work depends on the type of debt solution you choose. These can include:
- Debt consolidation: Combines multiple debts into one, often with lower interest rates.
- Debt management plan: Works with a credit counselor to create a repayment plan with reduced interest and fees.
- Debt settlement: Negotiates with creditors to settle debts for less than you owe (impacts credit score).
- Bankruptcy: Legally discharges some or all debt but has severe financial and legal consequences.
Choosing the right debt relief program sets the foundation for a bright financial future. Our team will take the time to fully understand your unique situation, helping you find the best debt solution available. Reach out today for a free consultation.
Are Debt relief programs a good idea?
Debt relief programs can be a beneficial tool for individuals struggling to manage their debts. However, it’s important to consider the potential effects on your credit score and ensure the program fits your unique financial situation. Always conduct thorough research, or get in touch with our professionals to talk through your options.
What are the benefits of debt solutions?
Debt solutions in Canada come with a full range of benefits, not just to your financial health, but your well-being too:
Financial Benefits
- Regain Financial Control: Empower yourself to manage and reduce debt effectively.
- Reduce Monthly Payments: Lower payments to ease your financial burden.
- Debt Consolidation: Simplify payments with potentially lower interest rates.
- Avoid Bankruptcy: Protect your credit score and financial future.
- Stop Collection Calls: Enjoy peace from harassing creditor calls.
- Legal Protection: Safeguard against creditor legal actions.
- Tailored Plans: Receive personalized advice for your unique situation.
Personal Benefits
- Stress Reduction: Reduce the emotional burden of debt.
- Improved Relationships: Remove financial tensions with your loved ones.
- Financial Literacy: Gain valuable skills for smarter financial decisions.
- Greater Peace of Mind: Enjoy security with a clear debt plan.
- Future Planning: Unlock opportunities for savings, investments, and significant life events.
- Personal Empowerment: Feel more in control of your life and future prospects.
How to get debt relief?
To get started with your debt relief in Canada, contact our Licensed Insolvency Trustees as Harris & Partners Inc. They’ll assess your financial situation, help you understand your options, and guide you in selecting a debt relief option that suits your needs.
How do debt relief plans affect credit?
Debt relief plans can temporarily lower your credit score as they often involve negotiating lower payments or balances with your creditors, which may be reported as ‘settled’ rather than ‘paid in full’ on your credit report. However, in the long term, debt relief solutions can lead to improved credit health by assisting you in managing and eventually eliminating your debt.
Can debt relief help with payday loans?
Yes, debt relief programs can help manage payday loans, which carry high interest rates and predatory fees. These programs may consolidate your debts or negotiate with lenders to reduce the overall debt owed, making it more manageable to pay off.
Can debt relief help with student loans?
Yes, debt relief programs can help manage student loans. For example, consumer proposals may be an option. This allows you to group your student loan debt, along with other debts, into a more manageable monthly payment. The type of debt relief solution that suits you comes down to your individual circumstances – no two debts are the same. Student loans’ inclusion in debt relief have very specific restrictions, it is best to inquire with one of our professionals to learn more.
How to get debt relief with bad credit?
Bad credit? No credit? Our debt relief solutions don’t care. . Our programs don’t require a minimum credit score and instead focus on your overall debt situation. Contact our trusted Licensed Insolvency Trustees to talk through your debt relief options.
Contact our Trustees for debt relief solutions in Canada
Bankruptcy, while a valid debt relief option, should typically be your final recourse. A Licensed Insolvency Trustee can expertly guide you towards the most effective path to debt freedom. Our experienced team at Harris & Partners Inc. stands ready to provide the relief you seek.
If you need expert assistance to solve your debt issues, don’t hesitate to reach out to us. We help everyday people like you across nine provinces and our federally Licensed Insolvency Trustees are committed to helping you secure lasting financial solutions.
It's never too late to obtain debt help. Book your free consultation today
- Phone number
- 800-268-8093
- hello@harrispartners.ca
Contact form
Where you can find our debt relief services in Canada
We offer our debt support services across nine provinces in Canada. No matter where you are, help is never far away at a Harris & Partners office near you.