2908 Hwy 7 Vaughan, ON L4K 0K5, Canada
Debt Consolidation
for everyone
Take Control of Your Debt with Debt Consolidation
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Learn about Debt Consolidation
Is Debt Consolidation the Right Solution?
Debt consolidation can be a great option for those with multiple high-interest debts, such as credit cards, personal loans, and medical bills. If you are struggling to keep up with multiple monthly payments or paying high interest rates, consolidating your debts could provide the relief you need. It’s an ideal solution if you have a steady income and can commit to repaying the loan.
How Debt Consolidation Loans Work.
1.
Evaluate Debts
We’ll review your outstanding loans, credit card balances, and other debts to determine your total debt amount.
2.
Choose a Loan
We match you with a debt consolidation loan that combines all your existing debts into one manageable payment.
3.
Funding
Once approved, the loan amount is used to pay off your existing debts, leaving you with a single, low monthly payment.
get started and consolidate your debt today
Our Debt Consolidation
Loan Options
We offer various debt consolidation loan options tailored to your financial situation. Here are some of the options available:
FAQs
What types of debts can I consolidate?
You can consolidate most unsecured debts like credit cards, personal loans, and medical bills.
How does debt consolidation affect my credit score?
Consolidating your debt can potentially improve your credit score by simplifying payments and reducing your debt-to-income ratio.
Will I still have to pay off my debts in full?
Yes, consolidation combines your debts into one loan, but you will still need to pay off the total balance over time.
Can I consolidate both secured and unsecured debts?
Debt consolidation typically works for unsecured debts, such as credit cards, personal loans, and medical bills. Secured debts, like mortgages or car loans, generally cannot be included unless you’re using a home equity loan for consolidation.
How much will I save with a debt consolidation loan?
Your savings depend on factors like the total amount of debt, interest rates, and the terms of your new loan. Many people save money by lowering their interest rates and simplifying payments.
Will I still have access to my credit cards after consolidating?
Yes, you can keep your credit cards after consolidating your debt. However, it’s important to avoid accumulating new debt while you pay off your consolidation loan.
How long does the debt consolidation process take?
The process can vary depending on your financial situation and the type of loan you choose. On average, it can take anywhere from a few days to a few weeks to secure a loan and pay off your existing debts.
Do I need a good credit score to qualify for a debt consolidation loan?
While a good credit score can help you secure better loan terms, debt consolidation loans are available to individuals with various credit scores. Lenders may consider your overall financial situation, including income and debt levels.
Can I consolidate my student loans with other types of debt?
In most cases, student loans are treated separately from other types of debt. However, if you’re consolidating unsecured debts, student loans can sometimes be included, depending on the lender and the loan terms.
What happens if I miss a payment on my consolidation loan?
Missing a payment on your consolidation loan can lead to late fees, a higher interest rate, or damage to your credit score. It’s important to set up a payment plan that fits your budget and avoid missing payments.