If you’re looking to break free of personal debt once and for all, we can help. We provide debt and bankruptcy solutions that are life-changing and permanent, so you can erase debt from your life.
Debt can be overwhelming. For that reason, our Licensed Insolvency Trustees are always here for you. let’s discuss the options available to you. Your debt-free future starts now.
Feel like you’re stuck in a cycle of debt and can’t get out? If you’ve had enough of juggling with your debt payments, a debt consolidation loan can help to eliminate the uncertainty of being able to pay your bills on time, while establishing a manageable repayment budget. Debt consolidation means combining your debts into a single, overall loan from your bank or financial institution.
If your application is approved for a debt consolidation loan, yourfinancial institution will provide you with the money needed to pay off your creditors. You can then repay the financial institution by making a monthly payment, usually at an interest rate lower thanthe rates you have been facing through your previous debts. Do not forget that you must first qualify for this type of loan. A financial institution sometimes requires a co-signer or someone willing to guarantee your loan, which represents the biggest obstacle to overcome before getting a consolidation loan.
A second mortgage is a type of debt consolidation loan. If you have some equity in your home, you may be able to refinance your current mortgage or get a second mortgage to consolidate all your debts into one monthly payment, lower than your current cost of borrowing.
A debt consolidation loan can be a good choice if:
It is important to make sure that the monthly payments required by your loan fit into your budget, otherwise you risk getting deeper into debt all over again.
If your credit rating is not good enough or if you were not able to make the monthly payment on your consolidated loan, you must then consider other options. Speak with your local Licensed Insolvency Trustee to determine whether or not a consumer proposal is the answer to your indebtedness.
The goal of solutions to indebtedness that allow a fresh start is to find the option that suits you best. To compare the available options, contact us in order to obtain a free, confidential consultation.
Our team of Licensed Insolvency Trustees will help you
explore the debt relief options available to you and
together we will find the solution that best fits your
situation. Set up your FREE, no obligation consultation
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*310-DEBT doesn’t operate in MB, NW ON and QC.
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