Debt Specialist

  1. we evaluate your entire debt and financial situation.
  2. we assist you in creating a debt management plan.
  3. we work with all your creditors to reduce your debts.

Kypreos & Associates Ltd understands that people might find themselves surrounded with debt for many reasons including job loss, reduced income, medical expenses, or even the rising costs of raising a family. When swamped with a pile of consumer debt, it is quite easy to become overwhelmed in thinking that you will never pay off your creditors. The high interest rates associated with consumer debts, interest charges and late fees can seem to conspire against your efforts to become debt free. It is for this reason that KAL helps Canadians better understand their debt relief options and help save you money while getting you out from under their unsecured loans. However...


The Debt Settlement Situation in Ontario.

There are more than 50 organizations offering debt settlement services in Ontario. The Ontario Association of Credit Counselling Services has received more than 100 complaints a month about debt settlement companies.

Debt settlement companies have also been the focus of a "consumer alert" from the Financial Consumer Agency of Canada (FCAC), which warns consumers to beware of "too good to be true" offers from debt reduction companies.

These companies offer to help you settle all your credit card debt (and other unsecured debt), with claims of up to 70 per cent savings on the total amount of money that you owe. The companies are known for:

  • high-pressure sales tactics
  • charging large up-front fees before any action is taken
  • describing their services in hard-to-understand contracts
  • providing misleading information about the effect on a credit report and credit score
  • making false claims that debt settlement companies are somehow linked to the government

This process can create a high degree of risk for consumers, who are open to abuse by companies interested only in collecting up-front fees while leaving consumers to deal with disgruntled creditors, most of whom are not interested in waiting for years to accept a pennies-on-the-dollar settlement.

There's no magic solution that make debts vanish. It takes time and effort to resolve, but it can be accomplished.

Are You Ready to Reduce & Eliminate Debts? Give us a call. Ph: 1 519 900-2997

Need to Repair your Credit? Start today!