Financial situationsDebts

After asking for financing from a financial institution, we will calculate your debt to income ratio, which is the total of everything that you pay each month, against your gross monthly income, in order to find your repayment capability.

Your debt load is based on your gross income and cannot exceed more than 35-40% of it. By default, your banker, without any particular explanations, will most likely refuse the loan. To obtain a loan, you need an adequate debt load, but you also need a good credit rating.

We are speaking of excessive debt that arrives frequently, after the family’s monthly expenses have been paid, where there is not enough money available to make substantial monthly debt payments.

We take into consideration that you are at risk of excessive debt in the following situations:

• You have 4 or more credit cards
• You spend more than 50% of your net income on consumer goods and your household expenses (rent, mortgage, heating, electricity, taxes, insurances).

The first step to get out of debt, and usually the most difficult, is to recognize that there is a problem. The fear of being judged and shyness are usually important factors and can constitute an obstacle for most. Asking for professional help is nothing to feel ashamed of. Trustees exist because of people in these exact financial situations.

By acting and getting a consultation quickly, you are avoiding many problems and anxieties. You may have more alternative solutions than if you were ignoring the problem without acting on it.

A member of our team will happily help you regain control of your financial situation. Take a first appointment now, it is free and confidential. Contact a member of our team