Debt Relief Solutions: 5 different debt management options for relief that are available to debtors today. Firstly, you could do nothing, but you run the risk of your wages garnisheed, your assets being seized and collection calls continuing. This doesn't make your debts go away. However if you have no assets or income, you can do this. Secondly, you can make a personal budget and deal with it on your own. A debt consolidation loan can help with this, to reduce interest. Third, you could get help from an outside agency like a credit counselor. You can enter a debt management plan with the help of a credit counsellor. You must, however, be careful of immoral "credit counsellors" who have no real credentials. You could also go and see a Licensed Insolvency Trustee. They can help you file a consumer proposal or a bankruptcy. A bankruptcy is where your creditors seize some of your assets and some of your income for a duration of time, after which, you will be cleared of your debts. Consumer proposals are a popular, legal alternative to these options. You make a deal with your creditors to pay back a portion of your debts over a number of years. You make a fixed payment every month to do this.

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