Debt Consolidation in Surrey, BC
Will you benefit from debt consolidation services in Surrey?
We’ve been providing these services for many years, helping out those in need.
Debt is a hard thing to get out of, and you can easily fall into an endless trap.
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Ask yourself these questions:
- Do you have mounting debts?
- Are you failing to keep up with your monthly repayments?
- Are you in debt to multiple creditors?
- Are your creditors threatening legal action?
- Are you falling victim to high-interest rates and extra fees?
If you answer yes to these questions, you need professional help and guidance.
If you don’t take action soon, you will fall into a debt spiral.
Your debts will keep piling up to the point where you have to default all of them and file for bankruptcy.
To avoid this, and all the stress it entails, you should look for debt consolidation services.
How does debt consolidation work?
Our Surrey debt consolidation services work on the principle that paying off one debt is easier than paying multiple ones.
If you have numerous creditors demanding money, it’s easy to become overwhelmed.
This is one of the biggest issues with being in debt; pressure is put on you by various creditors, making it easy to focus on one and forget about the others.
As such, you may keep up with your repayments to some creditors but fall behind with others.
This makes the debt mount up even more.
Additionally, being in debt to lots of creditors means you deal with different interest rates.
It all adds up to a situation that’s hard to keep control of.
Debt consolidation is the process of combining your debts together.
This is made possible with a debt consolidation loan.
Essentially, your debt consolidation loan is substantial enough to pay your creditors.
They all get their money, which means they leave you alone.
In turn, you only have one loan to pay off.
Many people can go from being in debt to four or five creditors to only having one debt to keep track of.
How will debt consolidation benefit you?
Some of you may be cautious of debt consolidation as you don’t technically get out of debt.
You may think this is a way of simply shifting your debt from one place to another.
However, it can be a life-changing service that helps you gain control of your financial situation.
Think of it as a rope you can cling to that will slowly lift you out of your debt spiral.
Some of the benefits of debt consolidation services include:
- Merge your debts into one debt that’s far simpler to manage;
- Save thousands of dollars in interest payments and extra fees;
- Be put on a payment plan that works for you and your finances;
- Get rid of all the creditors snapping at your heels every day;
- Sleep easy knowing your debts have been paid and your loan is slowly getting paid off.
Paying off one loan is infinitely more manageable than paying various debts.
As mentioned previously, you can quickly fall into the trap of neglecting some creditors or being hit with excessive fees.
A debt consolidation loan is one loan, usually with a low-interest rate.
The whole purpose of it is to help people in debt.
You are put on a payment plan that suits your budget.
Part of our Surrey debt consolidation service involves talking to debt consolidation loan providers for you.
We’ll help you find the best interest rates and the most affordable options.
This guarantees you save money by consolidating your debts, rather than trying to pay them all individually.
Your life becomes a lot more comfortable when you seek out debt consolidation services.
You no longer stay up at night worrying that a debt collector will turn up at your door.
Set up a direct debit that pays your monthly loan fees automatically.
Now, you can get on with your life and start rebuilding your finances.
What debts are covered by debt consolidation loans?
A debt consolidation loan will cover both secured and unsecured debts.
A secured debt is one with assets used as collateral.
The most common example of this is a mortgage, which uses your house as collateral.
Car title loans are another instance, this time using your car as collateral.
If you’re struggling to meet the terms of a secured loan, your creditor can seize your asset to help pay your debts.
In contrast, unsecured loans have no assets secured against them.
Therefore, debt consolidation loans can help with the following:
- Payday loan debt;
- Credit card debt;
- Personal loan debt;
- Mortgage debt;
- Student loan debt.
The list goes on and on. Simply put, debt consolidation can help you regardless of what debt you’re in.
What to expect from debt consolidation services in Surrey, BC
Our services extend beyond debt consolidation loans.
While we will help you find a favourable loan, it’s not where the service starts.
This is what you can expect when you come to use:
Everything starts with a consultation.
You can call us to arrange yours today, or fill in our evaluation forms online.
Either way, we’ll set up a meeting to discuss your financial position.
We ask that you provide us with as much information as possible, such as:
- Proof of income;
- Total current debt;
- The names of creditors you’re in debt to.
The more information you supply us with, the better.
Ultimately, we will review your situation and look at where you’re currently at.
We can calculate your debts and see how they stack up against your income.
It’s helpful to see some bank statements or get a rough estimate of your monthly expenses as well.
When the consultation is over, we’ll both know where you stand and what your best options are to be rid of debts.
Pick the right path
Next, we discuss the possible paths you can go down.
Some of you may be in a position where a debt consolidation loan is all you require.
Merging your debts into one loan can make it more affordable for you.
A slight tightening of your budget can also help, but you will soon be on the path to a debt-free life.
For others, your situation is more severe.
Your debts have mounted to the point where you don’t have enough money to pay them.
No matter how hard you restructure your budget, or how low the interest is on a debt consolidation loan, your overall debt total is insurmountable.
In scenarios like this, we look at other options – typically debt restructuring or consumer proposals.
Debt restructuring looks at altering the terms of your debts.
We negotiate deals with your creditors to agree on a lower overall payment that you can afford.
Consumer proposals are similar but slightly more extreme.
A consumer proposal will affect your credit score, but it can wipe out thousands of dollars of debt.
When this is agreed on, we can use a debt consolidation loan to pay off your debts on the new terms.
The creditors are happy, and you have saved money.
Now, you can afford to pay your loan off over time.
Our service doesn’t end there.
After we’ve helped you with debt consolidation, we will provide continued support.
This includes credit counselling to teach you how to manage your credit better.
You’ll learn the right way to use credit cards and take steps to avoid borrowing money in the future.
We also guide you on the path to rebuilding your damaged credit score.
Effectively, we help you achieve a stronger financial future.
This ensures that you avoid debt in the future and don’t fall into any financial traps.
When should you get debt consolidation help?
There’s no such thing as getting help too early.
With debts, the longer you leave them, the larger they tend to grow.
It can be daunting to take the first step and reach out for help.
However, you harm your finances even more if you don’t get the assistance you need.
As a general rule, you should seek out these services when you start seeing a slip in your repayments.
If you start missing payments or begin making the minimum payment on your credit cards, that’s a sign things are going downhill.
Anyone can make an innocent mistake and forget to pay a bill.
When this happens because you can’t afford the payment, you should start to worry.
Get help before things go from bad to worse.
Schedule a debt consolidation consultation today!
Nobody deserves to fall victim to debt.
It’s our mission to help you find the best solution for your situation.
We will do all we can to prevent you from filing for bankruptcy by offering a range of debt consolidation services.
You’ll benefit from our help, and we’ve guided many Canadians back to a point of financial security and stability.
Booking a consultation couldn’t be easier.
Call us today, or fill in an online evaluation form.
We look forward to hearing from you and helping you get out of debt!