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Free Debt Consolidation
No contact details required to find out if you qualify
The solution you’re seeking can be debt consolidation. Do you find it difficult to remember your bills and their associated payments? Do you frequently pay interest on your credit card amount, but it never decreases? Consolidating your debt relieves you of the constant hassles and can hasten the repayment of your bills. You may even be able to bargain for lower interest rates in some cases to save money over the long haul. But what does debt consolidation entail?
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One of the concepts that cause a lot of uncertainty for Canadians is Debt Consolidation. You’ll know more about debt consolidation after reading this simple guide than the majority of Canadians:
Debt consolidation is the process of consolidating two or more debts into one. Some people opt for a home equity loan, debt consolidation loan, or credit card balance transfer, although these frequently need excellent credit or high income. Some may even make your financial situation worse.
The Office of Consumer Affairs (OCA) of the Government of Canada states that a debt consolidation loan enables you to pay off all of your creditors at once and is often obtained from a bank.
You will only have to make one monthly payment as a result, frequently at a lower interest rate than you are currently paying. This enables you to pay off your loan more quickly and save money on interest fees.
A non-profit credit counseling organization and your creditors come to terms with a Debt Consolidation Program (DCP). If you work with a reputable, non-profit credit counseling organization, a licensed credit counselor will speak with your creditors on your behalf and try to reduce the interest rate on all of your unsecured loans while also consolidating them into a single, more manageable monthly payment. A Debt Consolidation Program is one solution that helps Canadians get out of debt.
You can intentionally decide to consolidate your debt for several reasons. First off, debt consolidation can assist in preventing missed payments, harm to your credit score, and higher interest rates if you have several high-balance credit accounts and find it challenging to make payments on time. If you’re in this situation, you might also want to consider automating your monthly payments because it’s a quick and easy way to reduce your worry and expenses.
In general, more Canadians are turning to strategies like debt consolidation and consumer recommendations rather than filing for bankruptcy to get out of significant debt problems. Thousands of Canadians use debt consolidation to lower their debt each year.
Debt consolidation loans are available from credit unions and large Canadian banks like BMO, CIBC, RBC, TD, and Scotiabank. Here are some advantages to consider while assessing the benefits and drawbacks of debt consolidation with a loan:
Debt consolidation loans can be challenging to receive, and if you don’t have good money management and monthly budgeting abilities, they might even make your debt worse.
Having to take on more debt to pay off your current debt doesn’t appeal to you? Or was your request for a debt consolidation loan turned down? Here are the options for a debt consolidation loan:
If your application for a debt consolidation loan was denied, it signifies that potential lenders had doubts about your ability to return the money you borrowed.
Consider the situation from the perspective of a lender. What are the possibilities that you will return the money? You might be a fantastic softball player at church or a good neighbor, but how well do you handle money? What does the ratio of your debt to income look like? What is your credit rating?
Recognize the reasons behind why those figures are working against you and how to make them on your side. Here are some things to consider:
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.
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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