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Free Debt Consolidation
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In Canada, there are various ways of consolidating your debt. If you are a Canadian and are looking for a guide to debt consolidation programs, this is the right place for you to know your options; and find steps on how to choose the right program for you.
If you have read enough but want to know more, you can skip this by clicking on the button below to get directed to our debt savings estimate calculator, and one of our team members will get in touch with you to discuss the best debt consolidation program for you.
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In this article, we will discuss the top 5 Debt Consolidation Programs in Canada.
Get the best debt consolidation advice for free. You don’t need to leave your home to talk to us, just simply click on the below button to get your free consultation via zoom or phone call.
It is the method of taking out a new loan to pay off other obligations or debts. Multiple liabilities are combined into a single and larger loan.
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If you are seriously struggling not only in terms of debt but also with how you manage your finances, a credit counsellor can help you. Credit counselling services offer not only financial education but also a debt management program.
With the Debt Management Program, your credit counsellor will negotiate with your creditors to restructure your debts for easier repayments at a lower interest rate.
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A personal line of credit is an alternative to a standard personal loan; a line of credit can give you access to an approved credit limit. It will allow you to withdraw the amount up to the credit limit anytime.
This type of debt consolidation program will give you access to the funds when needed or when you have debts needed to be settled soon. You will only incur interest towards your balance not the entire credit limit.
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If your debt is composed mainly of credit cards, this is the best method to consolidate. This can be the best tool to repay existing credit card debt cheaper with typically a 0% promotional offer.
Most banks will offer a 0% interest rate as an introductory offer to entice cardholders to transfer their debt. A promotional offer will typically last from 6 months up to a maximum of 18 months. Consolidating your debt using this method will give you a breathing period to pay off as much debt as possible without any interest before it begins to accumulate again.
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If you owe more than $10,000 of debt towards Credit Cards, Personal Loans, Car Loans, Taxes, CERB, HST, 407, Household Bills, Payday Loans, and Student Loan this is your best option. With a government-approved debt consolidation program, your debt can be reduced by up to 50%-75%.
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We offer a free and confidential debt consultation, no obligation, and no risks! We don’t charge upfront fees; you have the freedom to use our service or walk away with the knowledge about the benefits of this government-approved program. This can be done via phone call or zoom, leaving your home is not necessary.
To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.
No contact details required to find out if you qualify
We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.
Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!
Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.
SEE IF YOU QUALIFY TO:
No contact details required to find out if you qualify
A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.
Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.
No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.
The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.
This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.
If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.
After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.
A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score.
National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.
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