Consolidating canada student loans

16 Apr

Depending on the type of debts you have and your overall circumstances, filing a Consumer Proposal may be a good option for you.

Speak with one of our qualified Credit Counsellors to determine if you should also speak with a Bankruptcy Trustee.

Related: More information on how a debt consolidation loan works Home equity is what’s left when you subtract what you owe on your house from what it’s worth.

Some people think of home equity as how much they’ve paid off on their mortgage.

Having a loan or repayment plan with one monthly payment that fits your budget will let you pay all of your debts off and get you back on track with your finances.

To learn more about the pros and cons of consolidating debt with a line or credit or overdraft, click here.

Credit cards can be easy to get into trouble with because after you make a payment, unless you’re maxed out, you can use your credit card again. Before you apply for a low rate credit card to consolidate other debts, make a free, confidential appointment with one of our Credit Counsellors and look at other debt consolidation options.

To learn more about consolidating debt with credit cards, click here.

A legal type of debt consolidation is available in Canada through a Bankruptcy Trustee.Before you increase your mortgage to deal with your debts, take out a second mortgage at a higher interest rate, or apply for a home equity loan, talk to one of our experienced Credit Counsellors.There are likely other options you may want to consider as well.To find out if a DMP is a good debt consolidation option for you, one of our Credit Counsellors would be happy to look at your situation with you.If a DMP is a good option for you, they will explain how it will consolidate your debts into one , how the interest rate is lowered or waived by your creditors and how we will help you successfully complete your Debt Management Program.