Toronto, Ontario Canada (PRWEB) August 09, 2011
Leading Debt Arbitrators has expanded its services to include the province of Ontario. The firm helps consumers settle their debt for 40 to 60 percent of what they actually owe, which can drastically change the lives of those in debt.
Chief Executive Officer Cherylanne Higgins says, ?We are so excited about becoming licensed in Ontario so that we can help even more Canadians find relief from debt. Debt settlement is a proactive approach for consumers to get out from under all the debt they have been carrying.?
Debt continues to be a big problem all throughout Canada. According to TransUnion, the average Canadian now carries about $ 26,000 in credit card debt and other lines of credit except for mortgages; that number indicates an increase of $ 1,200 in debt on average one year ago. The average Canadian holds $ 3,500 in credit card debt alone, and it seems clear that many of them can?t handle that much debt. The rate of credit card delinquencies is also up for the current quarter.
Mark Carney, governor of Bank of Canada, is also warning consumers in Canada about the increasing debt problem. He says Canadians are carrying debts, including mortgages, that amount to 148 percent of their disposable income. Debt experts at Leading Debt Arbitrators recommend that consumers carry debt that amounts to no more than 20 percent of their disposable income.
Leading Debt Arbitrators has developed a debt negotiation program that is aimed at helping Canadian consumers get back on track with their debt. The program is an alternative to bankruptcy, which will scar a consumer?s credit history for up to 7 years. It also prevents them from having to pay hundreds, if not thousands of dollars in up front legal fees, only adding to the debt burden. Debt negotiation is also a win-win situation for creditors because they realize that they will get more of the money they are owed through debt negotiation than they will through a bankruptcy filing.
The debt negotiation program offered through Leading Debt Arbitrators works differently than consumer credit counseling services, which are actually funded by the financial industry. CCCs work for creditors, while debt negotiation works for the consumer instead.
About Leading Debt Arbitrators:
Leading Debt Arbitrators has been helping individuals and families break free from debt for many years. The company works as a negotiator for consumers who feel like their debt is getting the best of them. Highly skilled professionals work on the behalf of the consumers to dramatically reduce their debt. Leading Debt Arbitrators offers a consumer-focused debt settlement solution.
Contact: Call 1-877-767-9880. One of our Debt Specialists will be happy to help you between the hours of 7:00 am – 6:00 pm PST Monday to Friday or visit our website at http://www.debtarbitrators.ca.
###
Related posts: