Free Affordability Check

Debt Review is a legal right for consumers facing financial difficulties. If you’re struggling to keep up with daily expenses and debt payments, you may qualify for the debt review process, which aims to provide structured debt relief.

The debt review process involves a detailed assessment of your finances by a registered debt counsellor, who examines your budget and monthly obligations. During this review, the counsellor evaluates if simple budget adjustments could improve your financial stability, or if you would benefit more from comprehensive debt restructuring.

If adjustments alone aren’t enough, the debt counsellor will request a Certificate of Balance (COB) from your creditors, providing a clear picture of your total outstanding debt. With this information, they determine if you’re over-indebted and whether debt review is the best path forward.

Once over-indebtedness is confirmed, the debt counsellor will create a tailored repayment plan that may include lower interest rates and reduced fees. By adhering to this plan, you’ll gain protection from creditors while paying an amount that’s manageable within your budget.

Benefits of the Debt Review Process:

• Legal protection from creditor action.
• Reduced monthly installments and interest rates.
• A structured, step-by-step plan to regain financial stability.