Debt Consolidation Loans Near Me

You’ve been stressed and compressed by your monthly payments and need help understanding how best to consolidate your debts. The stress ends today.  

Here are the basics of Debt Consolidation Loans and what my clients ask me the most about so you will be seen as a respected and capable supporter of your family. I will go through them here.

What Does Debt Consolidation Mean?

The simplest understanding of debt consolidation is when you take multiple loans and pay them off with one larger loan

These other loans are now paid off and you don’t have to make payments on them any longer. The new single loan now has taken their place. 

The monthly payments on the loans that were paid off are no longer due and now you only have to make one low monthly payment for the new loan.

Can My Bank Consolidate My Debt?

The short answer is yes. 

As long as you have excellent credit then your bank can offer you an unsecured line of credit that is based on your credit score and your other financial holdings with them to determine how much you can borrow and at what interest rate. 

Read more about what the bank can and cannot do to consolidate your debt.

Are Debt Consolidation Loans Easy To Get?

How hard or easy the Debt Consolidation Loan process is depends on two things. 

  1. Who you work with. 

  1. How motivated you are to provide the necessary information to get the lender what they need to make a loan decision. 

My clients enjoy a listening ear and an encouraging voice on the phone towards making their best Debt Consolidation Loan easy, no matter the circumstances.

Does a Debt Consolidation Loan Hurt Your Credit?

The simple answer is that a Debt Consolidation Loan should improve your credit and not hurt it. 

The reason for this is called ‘credit utilization’ and don’t let the term confuse you. All this means is the amount of your available credit that you are using at any time.

When you pay off the debts that are using near to all of your available credit, your credit score should rise almost immediately after a Debt Consolidation Loan is completed.

What Is The Smartest Way To Consolidate Debt?

There are so many options towards consolidating your debts.

You can get a personal loan, complete a credit card balance transfer, cash out investments, complete a debt consolidation loan, or even refinance your existing mortgage. 

The smartest way to consolidate debt is to consider all of your options to ensure you make a smart move towards a better financial position

How Can I Get All Of My Debt Into One Payment?

It is relatively easy to see the improvement that a Debt Consolidation Loan can make to your monthly payments.

Quick example: You have the following debts

  1. Three credit cards with minimum payments of $500

  1. Personal line of credit with a minimum payment of $250

  1. Student loan with a minimum payment of $300

Your total monthly payments on these debts is $1,050

Taking out a single loan to consolidate these debts can bring your payment down to $400/month. This is a savings of $650/month and can help alleviate a lot of worry.

Helping You In Ontario with Your Debt Consolidation Loan

I can help you anywhere in Ontario with your Debt Consolidation Loan. My lender network can be used anywhere you are in Ontario. If you’re in the GTA or as far north as Huntsville/North Bay, I can meet with you in person.

If you’re further away, we can have a phone call and do everything we need to by email. Here is some information on meeting me in Brampton, Mississauga, Toronto, Barrie.

So what is at stake when it comes to the stress of managing many monthly payments?

Spending your golden years worrying about high credit card debt?...Sleepless nights?...Seeing your credit score slowly go down?

No, that’s not how your story ends. Now is the time to take back control of your finances and become the hero one more time. 

Contact me today and let’s get you the Debt Consolidation Loan you need. Your family’s gratitude is worth it!