Here, at Paddon + Yorke, Inc., we understand that debt itself is not entirely bad. Acquiring debt is a natural occurrence. In its simplest form, debt is defined as an obligation owed by one party to another. We say that someone can be indebted to another person by circumstance.
- For example, children are said to be indebted to their parents as a result of the nurturing and caring that they received right from birth until the time that they are able to survive on their own.
- When we talk about monetary debt, it can be something good and useful like when capital is loaned by an outside source in order to expand a business or to fund a project.
- Also, taking on debt to finance the acquisition of property like a house or car, for example, may also be considered okay if the person has enough income to make the necessary loan payments.
However, debt that goes unpaid is another story. It can lead to more serious financial problems if it is neglected. Using a credit card to make huge purchases and then failing to make payments on time is an all too familiar illustration of bad debt. In this case, nonpayment would make the total debt balloon to a huge amount because of interest and other charges that pile up over time.
Paddon + Yorke, Inc. – Ontario Debt Consolidation & More
Paddon + Yorke, Inc. is a company that offers services such as the kind of debt consolidation Ontario clients need when they’ve amassed a lot of mismanaged debt. Paddon + Yorke has financial service teams that are made up of the finest Ontario debt consolidation experts.
We are the ones that clients can count on when their finances go from bad to worse. Providing practical answers in our line of work is not a cookie cutter job. Our people are trained to make detailed assessments in order to propose the best solution to resolve a financial issue. Whether you need debt consolidation in Ontario or other practical recommendations, contact us today to learn more!
Every year thousands of Canadians experience financial difficulties for many different reasons. You are not alone.
The professionals at Paddon + Yorke will explain all of your options so you choose a solution that is right for you. We promise to work with you to create a successful plan to deal with your debts.