Debt Consolidation Markham

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Comprehensive debt consolidation plans just for you

If you have not come across the term yet, you will be glad to know that this policy can do away with your loan problems over a short period of time. What debt consolidation does is, it combines all your small, medium and large loans and consolidate them into one account and you pay a one-time amount every month till the dues are cleared off. Now, you might be wondering, how does that help you? Well, to know that you can give me a call at Leverage Capital. I will be more than happy to share all information that you need regarding Debt consolidation and its perks.

Payback your loans with ease

Ironically, by the time they are 30, most Canadians find themselves in several types of loans with one common being home mortgages as well as credit card dues which come with a hefty interest rate.

Now when you are paying all your loans separately, you are paying a separate interest for all of them in in doing so shelling out more of your hard-earned money just on bills, and afterwards spend the rest managing your expenses. I don’t think that is an efficient way of managing your finances and with a policy such as debt consolidation, you don’t have to.

Once you apply for this policy, the first thing that will happen is, all your loans will club into one account. You can set the period by which you want to clear off all your dues and there will be a reasonable interest charged compared to what you’ve been paying (credit card interest rates can go up to 15%-20%. And from then on you will only have to pay once a month leaving you with some extra cash well that you have been spending on bills till now.

Why should you opt for debt consolidation?

Generally, people opt for debt consolidation for several reasons: some of them being:

This policy can simplify finances, instead of keeping a track of several loan repayments, you can only keep track of one.
It can save you money as it reduces the interest rate. The policy does this by paying off high-interest debt with a lower interest rate debt consolidation loan (provided you can get approved for a low-interest rate consolidation loan).
With a small monthly payment, you can easily manage your monthly expenses. You will also have the option to increase your amortization period.
If you clear your debts faster, then your credit score will also improve.

Speak with me for any queries you have at Leverage Capital, I will get them resolved.

Criteria for qualification

The criteria are not that challenging to fulfil, all you need to have is an acceptable credit score and a regular income. You may need to show a reasonable level of monthly expenses as well. If you can present these documents, I can start with the paperwork ASAP. For more details, contact Leverage Capital.

A perfect solution for paying off your dues

Generally speaking, more Canadians use policies such as debt consolidation to get out of serious trouble, rather than declaring bankruptcy. For those that can’t qualify for a consolidation loan as the debt load is simply unmanageable, they can opt for debt restructuring.

Debt consolidation is a legal and ethical way to get out of your overwhelming debt situation.According to the Federal government, “this option [debt consolidation] may be suitable for debts such as those relating to credit cards, public utilities or other consumer loans.

However, not all debts can be combined into a consolidation loan — a mortgage cannot be included, for example.” The policy combines your smaller loans into a larger loan to get a lower interest rate. However, you can also use your existing assets (such as your home) to have even more leverage with creditors. So debt consolidation can involve a secured loan against an asset that serves as collateral, most commonly a house. If you use your house as collateral in debt consolidation, it can help you negotiate a lower interest rate. With an asset on the table, banks will see you as a less risky investment which means you increase your bargaining power with lenders.

For example, the worst-case scenario for the creditors is they force the sale (foreclosure) of the asset to pay back the loan if payments aren’t met.The banks never want to be in this position but with an asset, banks feel more comfortable about lending more money to you and earning you an even lower interest rate.

Tired of paying extra while clearing off your debts? It might be time for you to apply for debt consolidation, contact me at Leverage Capital for more details.

Debt Consolidation Markham

Apply Now!

Payback your loans with ease

Why should you opt for debt consolidation?

Criteria for qualification

A perfect solution for paying off your dues

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