Types of Debt Help in Ontario
Debt is an amount of money you borrow from another party. It is often used to make large purchases you would otherwise be unable to afford. Purchasing a new car using a loan or buying a brand new oven using a credit card accrues debt.
There is no problem with having debt, as long as you can pay the money back by the date agreed upon by you and the party you borrowed from. If you miss payments to your creditors, financial consequences follow which can ruin your credit and lead to other problems.
If you have personal or corporate debt you are unable to pay off, you need debt help. Kitchener and Hamilton residents and corporations rely on the Licensed Insolvency Trustees (previously known as Trustees in Bankruptcy) at Harris & Partners Inc. for debt help and counselling.