No one wants to end up in a lose-lose situation, and that’s why when you’re considering debt consolidation you want our Toronto mortgage brokers to help you find the right solution. You can turn the equity in your home into a deal that can clear the slate and help you get on the road to being debt free. Why should you get trapped in a losing situation when there is help out there for you? From understanding what debt repair solutions work to finding out how to spot the ones that don’t, we’ll talk about everything you need to know here.
Don’t Trust Random Emails
Thousands of Canadians each year are duped into taking a deal that’s not real – if you receive a random email about debt consolidation or credit repair, don’t blindly give your money up. Find out who this company is, what their reputation with the Better Business Bureau is. We’ll be able to help you understand your rights and responsibilities as a borrower, help you find consumer credit counseling and show you how you can use the equity in your home to pay off your debts.
Advance Fee Credit Cards are a Scam
If you’re approached or offered a credit card for an advanced fee that isn’t there to secure the credit card (pre-paid), it’s a scam. You can’t fix your credit with a pre-paid credit card. It just doesn’t work that way. The only way you’re going to repair your credit is by debt consolidation – working through the debts you have now and building new credit for the future. The cash only route is never going to be able to help you repair your credit and anyone that asks for money upfront is someone that you want to avoid.
A Home Equity Loan Can Settle Your Debts
With a home equity loan you can get a debt consolidation deal to get things paid off in one fell swoop. You’ll only have to pay a single bill each month, making your debt repayment easy as pie. Some people will structure it a little differently with bimonthly payments or a partial settlement. Either way, you’re going to want to make sure you don’t just get a loan but also get consumer credit counseling. People who go through counseling are 5 times more likely to keep their debts paid off and use credit more wisely.
Don’t Get a Bad Deal
Don’t get a bad deal – talk with one of our Toronto mortgage brokers today and see what kind of debt consolidation deal you can get. We’ll look at all of your debts and show you how you can get on the road to being debt free. The last thing you should have to worry about is being stuck in the debt bubble – call us today and see what you can do with a home equity loan for your bills. Isn’t it time you put it behind you and moved on with your life?