Consolidating credit card debt pros and cons

29-Jan-2019 23:37 by 8 Comments

Consolidating credit card debt pros and cons - internet dating quizzes

Or, it might make sense to consolidate high interest rate debts into one monthly payment with a lower interest rate.

Getting help from us is as easy as giving us a call or chatting with us online.

It can be tempting to use your line of credit or bank account overdraft to consolidate your debts into one monthly payment.

However, by doing that, you run the risk of never paying your debt off.

We know that it can be hard to ask for help with your debts, so we do everything we can to answer your call quickly, provide you with the information you are looking for and book you a free credit counselling appointment if that’s what you need.

Our appointments are either in-person, in one of our offices, or over the phone; whatever is easier for you.

In this case one of our Credit Counsellors can help you look at other debt consolidation options.

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.To learn more about consolidating debt with credit cards, click here.A Debt Management Program (DMP) is a way of consolidating your unsecured debts without borrowing more money.There are mortgage rules in Canada about using your home equity to consolidate debt.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.If you’re stressed and having trouble paying your debts, get help sooner than later.