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Canadian credit card companies are obligated to state certain facts about your debt. They must show on your monthly statement how long it will take to pay off your balance if you only make minimum payments. In most cases, it will take over 20 YEARS! That amount is calculated based on you never charging anything else on the card during that time. The other calculation will show how much interest you will pay when only making minimum payments over that 20 year time period. In most cases, you will pay more than TRIPLE the price of that original purchase when your balance is carrying a 21% interest rate. The average person cannot make these payments and they never get out of debt.

Do you fall into any of these categories?

» Are you using credit to support your expenses?
» Only make minimum payments on credit cards?
» Is credit maxed and unable to meet payments?
» Do you never seem to pay down any principle?
» Have creditors taken legal action against you?
» Are your creditors constantly harassing you?
» Using your overdraft on your bank account?
» Are your wages currently being garnished?
» Taken on new loans to pay off old debts?
» Are your debts causing problems in your family?
» Are you behind in rent, mortgage, or utility bills?
» Are you receiving past-due notices on any bills?
» Losing sleep worrying about money problems?

If you have fallen into any of these categories, you will benefit from the free advice of a qualified DebtCare Canada consultant. Remember, the sooner you deal with your financial problems, the more options you'll have available to you.