Alternatives
What Are Better Options Than Debt Settlement
This page brings together important information about debt settlement. Debt settlement involves negotiating with your creditors to pay a lump sum that is less than the total amount you owe.
You can explore alternative solutions, such as debt management plans, consumer proposals, debt consolidation, and bankruptcy, to evaluate your options and choose the best path forward. Whether you’re considering debt settlement or other financial strategies, these resources will provide valuable insights to help you achieve financial relief.
Everything You Need to Know About Debt Settlement Alternatives
| Topic | Description |
|---|---|
| Consumer Proposals | Consumer proposals allow you to repay a portion of your debt through a legally binding agreement, avoiding bankruptcy. |
| Debt Management Plans | Debt management plans involve consolidating unsecured debts into a single affordable monthly payment with reduced interest rates. |
| Debt Consolidation | Debt consolidation combines multiple debts into one loan to simplify payments, but it may not reduce the total amount owed. |
| Bankruptcy | Bankruptcy can eliminate most of your debts but has a serious impact on your credit score and future borrowing ability. |
Alternatives covered in this section for Debt Settlement
