Frequently Asked Questions

 

What to expect during the first call

During the first call you can expect the representative to ask for some basic background information on your debts and current situation such as the names of your creditors, outstanding balances, whether the debt is secured or unsecured, interest rates, status of accounts, etc. This information will help to determine which of our services is best suited for your financial situation.

Will the Collection Calls Stop?

Once you are enrolled in one of our programs the collection calls should stop. If the collection calls continue, inform the collection agency or creditor that you are working with Become Debt Free Canada through a Debt management or Settlement program and politely provide them with our contact information. If the calls continue contact us and we will do everything within our power to ensure the calls are stopped.

What kind of debt is eligible for our programs?

At Become Debt Free Canada we deal with unsecured debts, meaning there is nothing offered as collateral in the event payment could not be made i.e. car or house. Unsecured debts can be anything from credit cards to consumer credit cards to unsecured personal lines of credit and other loans.

What information is required?

We require that clients provide us with their most up to date statements in order for us to have a clear understanding of the situation they are in. We do understand that this information may not readily be available to you but it is important to gather this information as soon as possible so we can complete the enrollment process in a timely fashion.

What is needed to be successful in a debt management program?

• Always be sure to have payments in on time in order to ensure that the agreed upon proposal is not breached which can result in the interest or penalty relief being revoked.
• Review statements regularly to ensure waiver of interest rates and penalties are being applied in correspondence with the agreed terms and conditions.
• Do not accept new credit cards or apply for more credit as this may cause creditors to revoke the agreement, which can lead to being dropped from the program.

What is needed to be successful in a debt settlement program?

• Always ensure your monthly payment amount is deposited on time into your special savings account, as these funds will be used for the purpose of negotiating and settling with your creditors.
• Do not accept new credit cards or apply for more credit as this will have an adverse affect on the program and ultimately your ability to successfully complete it.

How Do I Start?

The best way to start is to either complete an online application or quick form. One of our representatives will contact you at your convenience to go over your financial situation and advise you on which option is best suited for your situation. Alternatively you can contact us Toll Free at 1-877-294-7247.