Credit Card Debt

• If you are making no more than minimum monthly payments it may feel that you have control however in reality it could take you many years to pay in full if at all.
• The interest cost calculation could reveal that you are or have already paid the amount borrowed multiple times.
• A bankruptcy or Alberta consumer proposal allow you to settle credit card debt, interest fee, legally binding to the credit card company and with a manageable monthly payment with a clear end date.

Credit cards are the most common type of debt we see when people reach out when they want to put their debt behind them and come up with a plan to become financially healthy as soon as possible. When interest rates rise, the cost of borrowing on credit cards increases, so the amount of interest you will have to pay each month goes up.

When you meet with us for your free consultation by phone, or in person, in addition to discussing Calgary consumer proposals and Calgary bankruptcies, we will discuss all of your other options. This may include reaching out to the credit card companies for a lower interest rate or a compromise on the amount you owe through Debt Settlement Plans or Debt Management Plans. There are companies that you can pay to assist you with this, but you should use extreme caution as they have no greater powers than what you have personally and the cost is often very high for the benefits gained. We can discuss consolidation loans and we will discuss the Orderly Payment of Debts program which is available to Albertans that qualify for the program.

To get help with your Alberta credit card debt,  please contact The Fryzuk Group. We are licensed insolvency trustees in Canada and we can help you create an affordable program to pay down your credit card debt.

For help with credit card debt, call 403-561-8228 and take the first step in paying off your credit card debt.