How to know if a free debt assessment will benefit you:

If you answer yes to 3 or more of these questions, then a consultation with Charlie Peet will benefit you.

• Are you making only the minimum monthly payments on credit cards?
• Are you charging more each month on your credit cards than what you are paying?
• Do you ever use one credit card to pay another?
• Have you made late payments on any of your bills in the last 3 months?
• Are you using your overdraft most months to pay bills?
• Do you go over your limit on lines of credit or credit cards?
• Have you applied for a consolidation loan but were unable to qualify?
• Are you looking for a second mortgage to pay down unsecured debts?
• Are you cashing in RRSP’s to pay down unsecured debts?
• Are you getting calls from collectors, or receiving past due notices in the mail?
• Is more than 20% of your monthly take-home pay being used for credit card and loan payments?

Secured and Unsecured

What is the difference between secured debt and unsecured debt?

Secured debts are tied to an asset that’s considered collateral for the debt. Lenders place a lien on the asset, giving them the right to take the asset if you fall behind on your payments. 

With unsecured debts, lenders don’t have rights to any collateral for the debt. If you fall behind on your payments, they don’t have the right to take any of your assets. However, the lender may take other actions to get you to pay.