If you’re swimming in debt but you don’t want to go through bankruptcy, debt consolidation could be the answer. Debt consolidation is a debt management plan that can really save your credit; while other options like bankruptcy can help you wipe the slate clean, it destroys your credit in the process. Bad credit can happen to anyone, but we can help you manage your debt. If you want to rebuild your credit, pay down your debts and move towards financial freedom, keep reading!
What is Debt Consolidation?
Debt consolidation will work with almost all types of unsecured debt; often secured debt like mortgages and home equity loans can be included in your plan. If you have private hospital bills to contend with, credit card bills, utilities (mobile phone bills for example) and anything else in between. You can even get store credit accounts rolled into your debt consolidation plan! You’ll want to make sure you bring all of your bills with you. Try to find the most up to date versions as possible so your specialist can help you settle all of your debt at once.
Do You Need Debt Consolidation?
Not everyone will need debt consolidation, but when you do look for the following signs:
- You’re having a hard time managing your debt. If you have so many bills each month and you just can’t keep up with them, you’ll be able to put them all into a single monthly payment. You’ll know when the beginning and end of your payment plan is, and it will be managed effectively.
- You’ve tried to pay back your debts on your own with a payment plan arranged by your creditor. Many creditors will offer payment plans that are difficult to stick to. If you’ve been through this, and you still can’t repay your debts, you need Toronto debt consolidation.
- You’re getting harassing calls at home and work. Sometimes creditors don’t know where to draw the line and you need a buffer zone between you and them. We can help you take your dignity back and avoid collection calls.
- You have too much interest to repay on your debts. With so many different interest rates each month, it can be hard to keep up. If you can bring down your interest rates even a few percentage points each month, you can save thousands if not tens of thousands of dollars every year in interest.
There’s no shame in needing help and we’ll help you get your dignity and your credit back. But you need to make sure that before you seek out a debt consolidation company that they’re prepared to help you. We have many years of experience; we’ll work on your behalf to give you a clear and concise plan towards debt repayment.