Debt relief solutions catered to you
We understand that financial hardships can be stressful and daunting, especially if you are on the verge of bankruptcy But you don’t have to go on this journey alone. At Harris & Partners Inc., we are here to support you with judgement-free debt relief solutions.
We take the time to learn about your specific situation and guide you through the process of debt reduction in Canada, paving the way for you to regain financial stability.
Professional debt help tailored to your circumstances
With over 50 years of experience, we can support you in a range of debt relief solutions that can help you manage, and eventually pay off, your debt.
Ready to lead a happier, stress- and debt-free life? Get in touch with our friendly Licensed Insolvency Trustees and get started with a debt relief program.
Our Debt Management Solutions
Consumer Proposals
Consumer proposals can be an alternative to bankruptcy that reduces debt and gives you more time to pay back creditors.
- Legally stop creditors
- Keep your assets & negotiate lower payments
- Avoid bankruptcy
Bankruptcy
We will help you through the bankruptcy process every step of the way and guide you to a better financial future.
- Wipe out most unsecured debt
- Protect assets like your home
- Last resort option
Corporate Bankruptcy
Corporate bankruptcy can be difficult to navigate, but we’ll help you through the maze, while also exploring other options too.
- Restructure debt
- Protect jobs for employees
- Avoid liquidation
Corporate Insolvency
Restructure your debt and operations to secure your company’s future.
- Navigate financial hurdles and protect jobs
- Typically liquidate assets to pay off debts
- Avoid corporate bankruptcy
Debt Consolidation
You consolidate various debts under one loan to pay back to creditors. This approach can help you save on interest over time.
- Simplify repayments & reduce interest rates
- Improve credit score
- Gain control over finances, avoid multiple creditors
Debt Management Plan
Stay in control of your debts with a predictable, scheduled repayment plan. These plans can run for up to 5 years and aim to leave you debt-free at the end of the repayment period.
- Potentially reduce payments
- Avoid interest
- Repay debt in agreed time frame
Division 1 Proposals
Division 1 Proposals let you change the terms of your debt, reducing the amount you owe and / or extending the repayment period.
- Repay portion of debt over extended period
- Retain assets
- Avoid bankruptcy
Credit Counselling
Here, you’ll learn to pinpoint the causes of your financial issues and gain the tools to take back control of your finances.
- Develop a personalized budget
- Repair damaged credit
- Learn debt management strategies
Debt Settlement
Here, To settle your debt you can hire a company to negotiate with the creditor.
- Potential for significant debt reduction
- May damage credit score
- Not guaranteed
Debt help in Canada - it's a simple process
Consultation
We’ll sit down with you and take the time to thoroughly understand your unique financial situation. We will provide a non-judgmental, fully confidential environment where you can discuss your circumstances openly and honestly. To give you the best advice, we’ll need information on your income, debts and who you owe money to.
Options
Once we’ve grasped the full extent of your challenges, we’ll start crafting a plan. This involves carefully examining every available debt solution option, with a commitment only to what you feel comfortable with. We will never pressure you into any decisions, and our services will be tailored to fit your specific needs.
Solution
Once you’re happy with the plan, we’ll put it into action. Your financial well-being is always our top priority, and you can trust us to provide unwavering support and reliable guidance every step of the way. Your peace of mind matters to us.
The types of debt we can help with
We specialize in a broad range of debt relief services that address nearly every financial obligation you might face. Feeling overwhelmed by debt? You’re not alone. We understand whether it’s the stress of a credit card balance, the worry of falling behind on your car loan, or the anxiety that comes with student loans.
If you’re juggling bills like medical expenses, tax obligations, or utility payments, we’re here to offer a helping hand. And for those dealing with mortgage concerns, payday loans, or any secured or unsecured debts — including those pesky cellphone bills and lines of credit — our team is ready to listen and guide you through.
Reach out to our team today; we can set you on a path to financial freedom together.
5 steps to debt relief in Canada
Facing debt can feel endless if we don’t find ways to manage and curb it in our day-to-day lives. To help lighten your load, we suggest using these five steps in your path to debt reduction in Canada:
Step 1. Create and stick to a budget
Creating and living within a budget is the first step in tackling your debt. Start by understanding your monthly outgoings and spot areas where you can cut back a bit. Try to save at least 10% of your monthly income. This can help you to:
Gradually lower your debts
Create a funds to offset your debts
Develop a safety net for life’s unexpected expenses
Form stepping stones towards investing in your future
Get started with a debt relief
Creating and living within a budget is the first step in tackling your debt. Start by understanding your monthly outgoings and spot areas where you can cut back a bit. Try to save at least 10% of your monthly income. This can help you to:
Gradually lower your debts
Create a funds to offset your debts
Develop a safety net for life’s unexpected expenses
Form stepping stones towards investing in your future
Step 2. Prioritize the debts with the highest interest rates
When you are juggling various debts with different interest rates, it’s key to strategise which one to tackle head-on first. It’s important you always cover at least the minimum payment on each debt, but any extra money should be directed at the debt with the highest interest rate, as this is the debt that will rise the most over time.
Speak with a specialist
When you are juggling various debts with different interest rates, it’s key to strategise which one to tackle head-on first. It’s important you always cover at least the minimum payment on each debt, but any extra money should be directed at the debt with the highest interest rate, as this is the debt that will rise the most over time.
Step 3. Shift your debts from high to low interest rates
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
For property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
Take control now
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
For property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
Step 4. Increase your income
If feasible, seek opportunities to boost your monthly income. Even the smallest amount contributed towards your debt can make a big difference. Consider working overtime, or possibly taking a second job, as the added income can ease your debt repayment journey. Alternatively, housing a roommate or tenant could provide supplementary income, accelerating your debt reduction.
Speak with the team
If feasible, seek opportunities to boost your monthly income. Even the smallest amount contributed towards your debt can make a big difference. Consider working overtime, or possibly taking a second job, as the added income can ease your debt repayment journey. Alternatively, housing a roommate or tenant could provide supplementary income, accelerating your debt reduction.
Step 5. Set up a personal payment plan
Paying off debt, like achieving any goal, requires a clear plan. Establish specific objectives to minimise your debts. Credit counselling can offer a fresh perspective on your spending and help in realigning your habits with your new financial goals.
Create for yourself a payment calendar with due dates and expected payment amounts. You could even consider applying for overdraft protection, alongside automating bill payments through your bank or online platforms so that you don’t miss payments.
Get expert advice now
Paying off debt, like achieving any goal, requires a clear plan. Establish specific objectives to minimise your debts. Credit counselling can offer a fresh perspective on your spending and help in realigning your habits with your new financial goals.
Create for yourself a payment calendar with due dates and expected payment amounts. You could even consider applying for overdraft protection, alongside automating bill payments through your bank or online platforms so that you don’t miss payments.
What to look out for when choosing a debt settlement company
It’s a sad reality that some debt consultants engage in misleading practices that can leave you in a worse position than when you started. Here’s what to be cautious of if you’re exploring debt settlement through consultants:
Transparency
A trustworthy partner should be an open book about their processes, fees, and what you can realistically expect. Beware of those hiding details or the fine print.
Gradually lower your debts
Create a funds to offset your debts
Develop a safety net for life’s unexpected expenses
Form stepping stones towards investing in your future
A trustworthy partner should be an open book about their processes, fees, and what you can realistically expect. Beware of those hiding details or the fine print.
Gradually lower your debts
Create a funds to offset your debts
Develop a safety net for life’s unexpected expenses
Form stepping stones towards investing in your future
Credentials
Legitimacy comes with proper recognition and accreditation. Verify that any firm you consider is backed by respected industry bodies.
Legitimacy comes with proper recognition and accreditation. Verify that any firm you consider is backed by respected industry bodies.
Track Record
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
or property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
One way to speed up debt reduction in Canada is to use a line of credit, which often carries a lower interest rate than other debts. If you have one, consider using it to pay off high-interest credit card debt. Talk to your bank about increasing your credit limit, if necessary, to clear your credit card dues.
or property owners, look into refinancing your mortgage or securing a second mortgage to settle higher-interest debts. Essentially, these tactics consolidate your debts under a lower interest rate.
Fees and Conditions
Understand exactly how the company’s fees work and any conditions that apply. Avoid companies that charge fees before they have successfully settled your debts.
Understand exactly how the company’s fees work and any conditions that apply. Avoid companies that charge fees before they have successfully settled your debts.
Impact on Credit Score
Be aware that debt settlement can affect your credit score. A trustworthy company will explain these impacts and how they plan to mitigate them.
Be aware that debt settlement can affect your credit score. A trustworthy company will explain these impacts and how they plan to mitigate them.
No Pressure
A reputable debt settlement company will never pressure you into quick decisions. They should provide plenty of information and allow time to consider your options.
A reputable debt settlement company will never pressure you into quick decisions. They should provide plenty of information and allow time to consider your options.
Personalized Approach
Each financial situation is unique. Choose a company that offers tailored solutions rather than a one-size-fits-all approach.
Each financial situation is unique. Choose a company that offers tailored solutions rather than a one-size-fits-all approach.