Consolidation loans are one of the debt settlement strategies we review with people but we’re not a lender.
While consolidation loans are a popular debt settlement strategy there are a number of issues.
Consolidation loans can be a solution for some people, but keep in mind the following issues:
Getting approved for the loan
Getting enough money to deal with all debts
Being able to afford the consolidation loan
Try our Debt Options Calculator to view various debt settlement strategies and estimate what your monthly payment might be if you were to get a consolidation loan.
A consolidation loan may be a good option if you are:
Not insolvent (assets are greater than liabilities)
Have a perfect credit rating
Have unencumbered property that can be used as collateral for the loan (ie: second mortgage)
My best advice would be to contact our office to arrange a free consultation with one of our licensed trustees to review your situation and discuss options.
When you meet with us – you will always meet with a licensed trustee in bankruptcy at NO charge.
We have offices across South Western Ontario plus flexible hours to meet your needs so you don’t have to miss work.
Let us help you get a fresh financial start!