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Free Debt Consolidation
No contact details required to find out if you qualify
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But before you plunge into it, see if it is the best option for you through the 4 checkpoints below:
Debt consolidation will get you to a single payment at a standard rate for all your debts. However, this may mean a longer repayment timeframe, and if calculated, may render a large amount of interest paid.
However, as different debts incur different interest charges, run the numbers first before deciding on putting all your debts into a debt consolidation program. Say you have two different credit cards at an interest rate of 15% and 17%, a federal student loan at 3%, and your consolidation program projects and overall 14%, you may have saved a total of 4% on your credit cards but has increased the interest rate on your student loan by 12%. If this is the case, you might want to consider better alternatives, contact your creditors and see if they can offer better terms, like transferring credit card balance to that with the lowest interest rate or leaving loans with low-interest rates out of the debt consolidation program.
Before deciding, know your options. Here are some possibilities you might want to explore:
Debt Consolidation Canada – They will make a program with you and contact your creditors to negotiate and make a lumpsum payment on your behalf at a lower interest rate. You then make your single monthly repayments by depositing to a designated bank account. Charges and penalties (in case of late payments) apply, of course. Be, however, cautious in choosing the company to engage in. Paying fees before payment of your debts is done, is not allowed by the Federal Trade Commission. Go for the company that will walk you through everything in the agreement. Ask questions and check reviews. There are debt consolidation companies that will ensure you do not receive any collection calls or emails anymore once you have signed an agreement with them.
Debt Management Plan – There are non-profit agencies that, just like Debt Consolidation Companies, will develop a sound financial plan with you and contact your creditors to negotiate a consolidation program for you, with lower interest rates and a longer repayment period. They require a minimal fee.
Balance Transfer – Look for a bank or lending institution with lower interest rates that accept balance transfers from your other creditors, you can also check on home equity loans, see if you can secure a line of credit to pay your credit cards and other loans. Payment on your multiple loans can be consolidated into this one home equity loan.
Keep in mind too, that proper planning and self-discipline are the key to financial freedom. Stick to the program and avoid splurging and running up new debts.
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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