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Dear Web Searcher,
 
Re:  Credit Counselling

You are looking for solutions to a financial crisis. After searching site after site, you may be confused as to which way to turn.  Let me give you some reasons why our credit counselling solution works best.

There are many companies that will offer to make a deal with your creditors to pay a reduced amount. They will try to reduce or eliminate interest and they will attempt to make a manageable payment that could work with your budget.  They could also be “not-for-profit” companies so you should save a fortune, right?  WRONG!

There are massive differences between not-for-profit companies and ours.  Here are some highlights: 

 

  • We offer a process through the Canadian Government.  We are licensed by Industry Canada.  Your money is completely safe.
  • Creditors cannot charge any further interest by law.  There is no negotiation of a reduced interest rate with each creditor. The interest rate is 0%. This is a considerable difference and a huge savings.
  • If you owe $30,000 and go to not-for-profit credit counselling, you would pay back $30,000 (plus interest if creditors only agree to reduce the rate).  There is no negotiating the principal owed.  This is because these not-for-profit companies are sponsored by the companies you owe money to.  They are in business because creditors do not want you to come to us. 
  • If you owe $30,000 and come to David Reynolds and Associates, we will analyze your financial situation (income, expenses, assets, liabilities, etc) and offer creditors a reasonable repayment based on your ability to pay.  For example, let’s say your income is $2,500 per month and you are a single person with no significant assets and no extraordinary expenses (such as child support).  I would suggest that an offer of $250 per month for 48 months ($12,000 total) be made to creditors. This is a repayment of 40 cents on the dollar with no interest.  Our success rate with offers such as these is greater than 99%.
  • You will not pay us any funds whatsoever if your settlement is turned down by creditors.
  • We can include Income Tax debt where not-for-profit agencies cannot.
  • We can include Student Loan debt where not-for-profit agencies cannot.
  • Let’s say you have 10 creditors and go to not-for-profit credit counselling. If only one creditor decides not to agree to a settlement offer, they can continue to sue you and garnishee your wages.
  • Let’s say you have 10 creditors and come to David Reynolds and Associates. No creditor can continue to sue you. No creditor can continue to garnishee your wages, including the government for income taxes. This is because we use a legal process that gives you a “Stay of Proceedings”. If a creditor were to serve you during this process, you simply give us a copy of the documents you received and we will have the process halted. This is in stark contrast to not-for-profit credit counselling agencies that have no such power whatsoever.
In closing, please let me say that the above advice is given in general terms only. It is imperative that you meet with us face to face to discuss your specific situation as there are situations where the general advice above is incorrect. For example, it says above that a creditor cannot continue to sue you. This statement is incorrect if the creditor happens to be an ex-spouse trying to collect child support. Therefore, I urge you to contact us directly to discuss your specific situation so that the proper advice, which will be given free of charge, can be given to you. 

I look forward to hearing from you.

Yours truly,

David Reynolds and Associates Inc.
David Reynolds, CIRP
President