Consolidating debt toronto
Did you know that you can combine all of your high-interest debt – including debt from credit cards, auto loans and personal lines of credit – into one low-rate mortgage loan? By consolidating debt in a secured loan, backed by the equity in your property, you can access interest rates lower than even a personal line of credit would allow.
Debt consolidation is helpful to people who can’t make their full monthly payments on time.
If you are currently carrying a lot of credit card debt and want to pay it down once and for all but are afraid of how that will affect your credit score, answer this question.
Is a high credit score really more important than being debt free?
According to a recent study by Trans Union, there are currently roughly 43 million credit cards in use in Canada.
While we’ll always be the first to say that it’s much easier to get into debt than it is to get out of debt, there are still countless options out there for anyone looking to regain control of their spending and work toward becoming debt free. When it’s all said and done, being debt free is one of, if not the best thing you can do for yourself and your future.While second mortgages do come with higher mortgage interest rates, these rates are still usually lower than those of credit cards and personal lines of credit. Use this loan consolidation calculator to help determine if a consolidation loan would work for you.We were sceptical at first, but Total Debt Freedom soon delivered as promised.Four out of five debts are now gone and we feel like we have been making real progress to our debt freedom date and given some real solid advice.