![]() ![]() You have tried to settle the debts but haven't made any progress.You are struggling to afford your payments, yet you aren't behind on bills yet.You are behind on loan payments and credit card bills.Debt relief programs involve negotiating with creditors, billing companies and debt collectors. It can be sought for several reasons, ranging from medical bills to job loss. Final ThoughtsDo I Need Debt Relief?Debt relief is best suited to debtors who cannot pay off debt on their own or by negotiating with creditors.Curious to learn about these options? Read on. The best solution will depend on your financial condition and legal constraints. Getting changes in your payment schedule or interest rate.While all these are effective ways to get rid of debt, not all are suitable for everyone.Persuading creditors to accept less the total amount owed.To help you break out of this debt burden, we need to look at debt-relief options available to you. Out of this, 7.3% (highest in nine years) of Canadians income is settling interest charges alone.With more than 1.7 million student borrowers in Canada, the total student debt has hit $18 billion, with the average student loan debt being $26,075.In a 2019 study by Credit Canada, 19% of Canadians with debt said they would need to liquidate their assets to help them pay off or reduce the debt. This has pushed the average household debt to record high levels.Today, 14.9% of the average Canadian's household income is being channeled towards debt repayment. According to statistics, almost half of all Canadian employees are living paycheque to paycheque. Fortunately, you can apply for small loans from direct lenders to help you settle some of the bills.When you are getting multiple calls and letters from your creditors, late fees piling up, and double-digit interest rates making it impossible to cut down the balance, reducing your financial stress is always top of mind.You don't have to feel bad you aren't the only one facing the debt challenge. From job loss to reduced working hours and wages, and high medical bills to mounting credit card bills. Sent by e-Transfer in 2 minutes.Referral programRefer a friend we'll give you both $20 in Cashback.Why iCashWhat is iCash?How it worksiCash reviewsWhy choose our loansReferral programPayday LoansE-Transfer LoansiCash vs Other LendersiCash appResourcesBlogLearnHelpFAQContact usLog inGet a loanLearn→Debt management→Debt relief optionsShare.Facebook IconLink copied!Share the articleFacebook IconLink copied!Guide To: Debt Relief - What are your options?As the economy continues to recover from the Covid-19 pandemic, many Canadians are finding themselves in a financial crisis. Debt Relief - What are your options? | iCash iCashLearnProductsWhy iCashResourcesHelpiCash LogoLearnLog InGet a loanLog inLog inGet a loanMenuProductsInstant loansInstantly borrow up to $1,500. ![]()
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