Sometimes after taking a close look at your finances, and assessing what it would take to gain financial freedom, debt relief begins to look a practical option worth considering.
If you’ve followed along with the first three parts of this video course (and done the work for yourself), you should by now have a pretty good idea of where you stand financially. But how can you tell if you are in reasonably good shape or need to take more drastic action?
We’ll discuss what constitutes a reasonable financial position and what is a potential warning sign of trouble ahead. We’ll also look at three debt relief options for fixing dire circumstances: selling assets, debt management plans/consumer proposals, and bankruptcy. As well, you’ll learn who to go to for help in assessing these options.
If you feel like you are in trouble – don’t worry! There is no situation so bad it can’t be fixed. In this video we give you the basic tools to see light at the end of the tunnel and start moving in the right direction.
The loan calculator mentioned in the video can be found here: The Geek’s Loan Calculator
What We Learn In This Video (Length 19:10)
How to tell if your finances need more drastic help.
What constitutes a reasonable debt repayment plan?
Revolving debt versus installment debt.
Options for paying off debt on your own.
Options for structured debt relief.
What are the consequences of pursuing debt relief?
Important Disclaimer: the information above is for general informational purposes only and does not in any way constitute an offer for the purchase or sale of any security and is not intended to be considered comprehensive or personalized financial or investment advice. themoneygeek.info assumes no responsibility for the use or application of this information. Always consult a tax, investment, or other appropriate professional before adopting any new financial strategies.