Best Financial Advisors in Langford, BC

Getting out of a (financial) hole! Sometimes we find ourselves in a financial hole and we aren’t sure how to get out. Is it a small hole that you can, with a little hard work, scramble out of? Or has the hole reached the point where all you see is hole? The first thing you should do when you find yourself in a financial hole. Stop digging! This means putting the credit cards away and stop looking for the next loan/credit line to help you get by. The further in debt you are, the higher the interest you will be charged and the harder it is to get out of debt. If your debts reach the point where the only way to make your payments is to borrow, then you probably need to stop borrowing. Of course, if you stop borrowing, you can’t make the payments and your creditors will start calling, and things can get quite challenging…Which leads to step two: Get help! Help may mean borrowing from family, getting budgeting counselling, or even filing a formal insolvency proceeding. The important thing to remember is that your goal is to get yourself out of the hole, not to get out un-aided. Talking to people and online research can help you see options you never even considered. As a licensed insolvency trustee, we are required to provide free, confidential consultations which can help shed light on how best to escape your hole. So, if you are ready to put down that shovel and start looking for a ladder, then give our office a call.