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Why Is Debt Consolidation in Canada A Good Idea?

There may be times when one can’t help but seek help from external sources to support financial needs. Situations surrounding debt differ depending on the individuals and some non-variable circumstances involved, and a lot of times debt consolidation in Canada is the best way to reach one’s financial goals. 

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Helped with $ 27,000 $ 41,500 $ 35,000 $ 17,000 $ 23,500 $ 46,340 $ 21,000 $ 35,000 $ 26,700 $ 65,500 $ 57,400 $ 17,500 $ 75,500 $ 63,000 $ 35,000 $ 18,500 $ 55,000 $ 85,500 $ 43,000 $ 29,500 $ 27,800 $ 41,200 $ 35,800 $ 85,000 in debt

1 day 3 days 3 days 8 days 7 days 6 days 12 days 9 days 3 days 6 days 1 day 4 days 2 days 1 day 7 days 5 days 8 days 6 days 12 days 16 days 5 days 8 days 2 days 7 days ago in debt in

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debt consolidation

Debt consolidation Canada allows you to combine more than one debt obligation into a new loan to be paid off in one go. Aside from reducing the number of loan payments to worry over, consolidation can also possibly expedite payoff, lower interest rates, and improve credit scores. 

While debt consolidation is a great idea for debtors with a high-interest rate, be mindful that inversely, poorly managed finances can lead to even considerable issues down the line.

Times where consolidating debt can be considered a wise decision include having:

●     A credit score that is good enough so you can qualify for lower interest rates.

●     A large amount of debt that you want to consolidate into a single payment. At least $10,000 preferably.

●     Sufficient cash flow or income that will cover the monthly payment you will choose.

●     A firm plan to improve your financial situation.

Benefits of Debt Consolidation

Getting a 0% interest in your remaining balance

The best thing about debt consolidation is that you will be able to combine all your debt into one. Debt relief agencies like National Debt Relief Canada will help you apply for a government program that will cut off a large portion of your debt.

You will get 0% interest on your remaining balance and you can decide how much you’d like to pay and how long you are able to pay.

Your Terms

Sometimes it’s hard to admit that we need help most especially if it’s about our finances. But when you get to the end of the road, you have to take advantage of options that can help you recover. Consolidating your loans and getting a better payment term will help you rebuild and recover. Most government-approved debt relief programs are designed to involve you in your journey to a better life.

This means that you will work with Senior Finance consultants to identify the best strategy applicable to your situation.

You can choose the payment term that you think you can commit to. Same as the total payment amount you can pay on a certain payment schedule you decide. 

New Life

Before signing yourself up for debt consolidation, or any debt repayment plan for that matter, you must have a firm conviction to change your lifestyle and stop using debt. Wrong decisions involving re-loaning can lead to you repeating the same cycle making it more difficult to get out of the bad situation. There is a risk in combining your debts into one, in that the relief from having finally only one debt to worry about monthly may tempt you to acquire more debt. 

Big Savings

Incurring debt is definitely a heavy load to carry for anyone. As a matter of fact, you’ll find that the longer you are in debt, the more of your money is unnecessarily spent towards paying it off. A lot of people do not know that they need not pay for third-party financial managers that require you to spend more. You get an opportunity to finally end the cycle, cut the expenses and start anew.

Our Clients 5-Star Reviews

BRIELLA SHELLY
BRIELLA SHELLY
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I was referred by a friend to this company we both worked with Suma Mathew and are very happy with the process and outcome . Suma is not only kind and helpful she is very professional and gets the process completed quickly. Thank You !!
BRENDA PIEPERS
BRENDA PIEPERS
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Happy about the service that Kurnal provided, he was very efficient and explained everything very well. Thanks.
STEPHEN SACKEY
STEPHEN SACKEY
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I was very off and not much trusting with this whole situation but thanks to the patience and kindness of Nora Youkhanis, I felt a true peace of mind and it cause me to truly believe in her and National Debt Relief. Her passion and true support in helping me with solutions help me become debt free and believe me, having her by my side my life and my future became clearer. I highly recommended Nora to anyone who needs someone to truly help and to never give up on you no matter what.
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Top 5 Key Benefits of our Ontario 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

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Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

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.

We will help you compare
the options and savings of all formal debt relief programs available to you.

SEE IF YOU QUALIFY TO:

No contact details required to find out if you qualify

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Frequently Asked Questions

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.

Why Trust National Debt Relief Services?

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See What Our Customers Have To Say

Dawn Friesman
Dawn Friesman
20/09/2020
Verified
I've been working with Allicia Macdonald shes very professional and sweet. I cant thank her enough for helping me rebuild my life. Thank you so much.
Chantal Rolfe
Chantal Rolfe
18/09/2020
Verified
Today I had a wonderful experience with Rachael, she was Very professional I was very happy with what we talked about today she was very Caring I highly recommend national debt relief services hundred percent😃
Jennifer Magill
Jennifer Magill
18/09/2020
Verified
Brittany was awesome, she explained everything clearly and offered solutions every step of the way. It’s always nice to hear that you could do this or that, I didn’t feel forced to do anything and was able to decide clearly. Thank you 🙏🏼
Dave Tonnos
Dave Tonnos
18/09/2020
Verified
This company will work with you and through any difficulties that may arise. They actually hold themselves accountable, how refreshing during troubling economic times.
marian kamara
marian kamara
18/09/2020
Verified
I have a great experience working with Suma, she work me through the program, takes her time to explain everything to me about how the program work, what I need to do from start to end of the process. I’m so thankful to God for sending an angel Suma to help relief my debt. It’s a great company to work with. I will recommend this program for anyone in debt like me.
Donna Hutchings
Donna Hutchings
18/09/2020
Verified
Connie B. was absolutely awesome! She explained everything in detail to me. Very professional to work with and takes the time with you. She really has compassion. So glad she helped me out. Thank you
lynn collins
lynn collins
18/09/2020
Verified
Joel has made this so simple and effortless he made sure i was well informed and making the right decisions for my situation i would recommend joel at national dept Relief to anyone in hardship with there bills thanks alot joel i really appreciate everything you have done for me thanks!! 5 stars for sure! and its chad ball not my mom lynn lol
Billy Bong
Billy Bong
17/09/2020
Verified
I had a great experience with Brittany, so helpful and understanding. Never felt like I was being pressured or rushed into anything. She was always there with answers to my questions. Thanks for all the help and peace of mind you helped me achieve.
Amber-lyn Miller
Amber-lyn Miller
17/09/2020
Verified
Let’s Just Put It Simple....... Not All Hero's Wear Caps........I spoke with Suma over a fairly lengthy period of time because of my busy schedule and lack of free time on my part, and she was not only extremely patient and understanding, but also beyond helpful And informative. Any question I had and no matter how many times she had to explain it to me she took her time to make sure I completely understood every single step and process before she moved on to the next thing. I have been so stressed out and worked up about my debt and trying to figure out how to fix it all since I know I will not be returning to work at all in the future because of medical issues and being 26 with that realization makes things just that more stressful but Suma made everything so easy and my payments are $100 a month for less then 5 years with no interest or penalties for early pay off. I’m so glad that I didn’t settle with some other place that was asking for $350 + a month for 7-12 years and paying off early would cost you more.
Jessica Preston
Jessica Preston
17/09/2020
Verified
Caroline F. was phenomenal, she was so helpful, understanding and compassionate. Caroline did not make me feel bad for my mistakes, she was supportive and caring, she helped me through this dark time in my life I'm so incredibly happy I crossed paths with her. Thank you Caroline for being so wonderful to me! <3

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