How to Manage Debt on Your Own

Here are five helpful, easy-to-do steps that you can take care of debt

It’s a fact: Canadians are carrying a lot of debt.

The Bank of Canada is constantly warning us to lower our debt-to-income ratio and take control of our finances. Sure, debt is a part of life and in many cases we must borrow money in order to achieve goals in our lives. Some debt is actually considered “good debt,” such as money spent on education or on real estate.

But then there’s the bad debt. Using your credit card on consumable goods, or on items that don’t hold their value, could be dangerous. If you don’t pay off your balance each month, you’ll take on interest charges that will increase the amount you owe, all while your asset is losing value.

Curbing bad spending habits and saving will give you a good foundation upon which to build your financial future, so Consolidated Credit has put together five easy steps to help you take care of debt on your own.

Debt reduction starts with you and your habits. Fixing any bad spending habits won’t happen in a day, but making an effort and following these tips will help you move toward financial freedom.

Of course, it’s easier said than done. Perhaps you’re in a place where small steps won’t work, and you need to take a giant leap or two. There is help out there. If you’d like some advice on your best course of action, give us a call at and speak to a trained credit counsellor today. You can also try our free budget analysis online and a counsellor will speak to you soon.

Consolidated Credit Counseling Services of Canada, Inc has been verified as the owner or operator of the Web site located at www.consolidatedcredit.ca. Official records confirm Consolidated Credit Counseling Services of Canada, Inc as a valid business. Call us today and see what we can do for you.

We are a proud member of the Canadian Association of Credit Counselling Services (CACCS), the national voice for not-for-profit credit counselling services. As a CACCS member, you can trust that our trained credit counsellors strive to provide the best in professional, independent and unbiased personal finance services. We’ve helped hundreds of thousands of Canadians find relief from debt. Call us today to find out if we can help you.

Consolidated Credit Counseling of Canada is proud to be a member and support the Toronto Board of Trade. Founded in 1845, the Toronto Board of Trade is Canada’s largest local chamber of commerce. We share their vision, passion and commitment to serving the community and to foster economic and social welfare of the City of Toronto. Call us today and see what we can do for you.

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Consolidated Credit Counseling Services of Canada is accredited by the Canadian Centre for Accreditation – a national organization responsible for ensuring excellence in community service. We meet CCA’s high standards of service and accountability. Give us a call today and find out what we can do for you.

We are proud members of the Ontario Association of Credit Counseling Services (OACCS). OACCS sets the standard of required expertise for the financial counseling industry and the only organization to offer the exclusive professional designation of Accredited Financial Counsellor Canada (AFCC). With over 500,000 people helped, you can be assured that we can find the right solution for you. Call us today.

Time tested and customer trusted. Consolidated Credit Counseling Services of Canada, Inc has been a BBB Accredited Business since 2008 and has a current A+ rating. Call us today and see what we can do for you.

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AFCC (Accredited Financial Counsellor Canada)

AFCC (Accredited Financial Counsellor Canada) is a distinguished professional designation, indicating that a counsellor has successfully completed the program and has specialized knowledge, unique skills and expertise as a qualified Credit Counsellor.

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With this amount of debt, you'd pay around $xx.xx on a DMP.

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