Financially struggling? You’re not alone! Many Quebecers face financial difficulties and quickly accumulate debts, which negatively impact their credit score. Mortgage Refinancing advisors can help you regain control of your finances and avoid bankruptcy. Call us now to plan a debt consolidation!
ÉCONOMISER JUSQU’À 1200$/MOIS avec une consolidation de dettes hypothécaire.
| Votre situation | Montant | Taux | Mensualités |
| Hypothèque | 101 000$ | 3,5% | 600$ |
| Prêt personnel | 5 200$ | 12% | 105$ |
| Prêt fenêtres | 16 000$ | 14% | 215$ |
| Carte de crédit #1 | 12-15000$ | 19% | 550$ |
| Carte de crédit #2 | 5-8000$ | 19% | 275$ |
| Prêt véhicule | 35 000$ | 5-10% | 575$ |
| Total | 2320$ | ||
| Nouvelle hypothèque | 180-185 000$ | 1 100$ |
Start Managing Your Debts with Consolidation!
Are You Facing Financial Difficulties? Is Your Debt Level Too High?
What Is Debt Consolidation?
An excellent alternative to personal bankruptcy, debt consolidation involves merging all your outstanding debts into a single loan. Rather than paying various creditors (credit cards, lines of credit, banks, etc.), you consolidate all your debts into one monthly payment with a bank or private lender! When done correctly, consolidation is a simple and effective option to regain control of your debt level.
Consolidate All Your Debts into One Low-Interest Loan
Taking out a debt consolidation loan is a method to reduce both the interest you pay and your monthly payments. A consolidation loan is obtained from a financial institution, and the money is used to pay off all your other debts, especially your credit cards (which have high interest rates). The result is the elimination of all your credits except with one financial institution.
Avoid Personal Bankruptcy and Payment Delays with Debt Consolidation
Combine Your Debts into a Private Mortgage with Our Alternative Loan Solutions
Consolidating all your debts into a single private mortgage is a solution to reduce your minimum payment and manage to cover your payments on time. With our alternative loans, simplify your financial management and benefit from reduced interest rates to lighten your monthly burdens.
Personal Credit Cards
Turn your high-interest credit card debts into a single payment with a more favorable rate, allowing you to pay less each month and get rid of your debts more quickly.
Line of Credit
Consolidate your line of credit balance into a private mortgage to enjoy a lower interest rate and structured repayment, thus reducing your financial pressure and go back to an eventual excellent credit.
Personal or Auto Loan
Combine your personal or auto loans under a mortgage with Mortgage Refinancing. Benefit from a single monthly payment at a competitive rate for a simplified debt management plan.
Tax Debts
Incorporate your tax debts into a private mortgage to avoid penalties and high interest rates. Our solution helps you regularize your situation while reducing your repayments.
Reduce Your Monthly Repayment with Experts
Find out how a debt consolidation loan can reduce your monthly payment.
What Are Benefits offered by Debt Consolidation Loans?
There are many advantages to debt consolidation. For many individuals with a high debt ratio, debt consolidation loans are the best available option. However, it is important to speak with a financial advisor or debt restructuring advisor to have a good consolidated debts plan: when it comes to credit, nothing beats a consultation with experts for a debt management plan.
1. Enjoy a Better Money Interest Rate
The interest rates on several financial tools are sometimes very high, especially credit cards with a 22% interest rate. Accumulating a balance on your credit cards can lead to paying huge interests! Consolidating your debts brings all your credits under a single lower interest rate: it’s an excellent way to stay in control and a solution to your debt repayment.
2. Consolidate All Your Debts into One Monthly Payment
It’s easy to get lost when you have multiple different creditors! Every month, we pay our credit card, personal loan, mortgage, car loan, and so on, which could lead to forgetting one. Paying all your debts with the money from a new loan allows you to turn all your financial obligations into a single monthly payment! Your budget will be easier than ever with an expert advisor who knows about types of loans that can be consolidated debts.
3. Maintain Your Credit Score Intact
Unlike declaring bankruptcy, a debt consolidation loan will not have a negative impact on your credit score. Since it’s just another loan, you don’t put yourself in a bad financial situation. Let’s not forget that declaring bankruptcy gives your file the “R9” mark, making access to credit very difficult for 7 years. Mortgage Refinancing can help you avoid this situation with a solid budget and repayment term!
Reduce Your Fees and Interest with a Private Debt Consolidation Loan!
Why Work with Our Experts?
Ensure That the Consolidation Loan Is Beneficial for You
Debt consolidation brings many benefits to individuals who struggle to cover all their payments and fees, but only if the loan terms are advantageous and reasonable. It’s important to have an interest rate lower than the combined interest of your other debts and to reduce the amount of your payments. For such an important decision for your future, we strongly recommend speaking with financial experts to know more about debt settlement plan and debt payments!
Ensure You Can Cover the Monthly Payments
We’re all full of good intentions, but wanting and being able are not always the same thing, especially when it comes to debts! The first step is to establish a monthly budget for the coming years and calculate your ability to pay and your expenses to avoid unpleasant surprises. Mortgage Refinancing is here to help you be disciplined, avoid creating new debts, regain control of your finances, and maintain your good credit!
Manage Your Finances and Budget with a Debt Consolidation Loan
Don’t let your credit card debts and expenses accumulate: contact us to discuss the possibilities of debt consolidation for you and your family! Working with Mortgage Refinancing is the best solution to regain control of your bad debts without sacrificing your credit score. We work with you to reduce your monthly payments and avoid declaring bankruptcy.
Don’t let the situation worsen and the missed payments accumulate before taking the right actions and seeking advice. Contact Mortgage Refinancing today for access to funds and debt consolidation!
Frequently Asked Questions about Debt Consolidation
Does Debt Consolidation Affect My Credit Score?
Debt consolidation is a loan from a bank or private lender for debt repayment. Unlike a bankruptcy filing, taking out a new loan will not have a large negative impact on your credit report with Equifax or TransUnion. However, it’s important that you don’t miss any payments, as each missed payment could lower your credit score over time and very quickly!
That’s why meeting with experts is an excellent first step if you’re considering debt consolidation and looking to improve your credit score over a certain period. Mortgage Refinancing advisors will be happy to discuss your financial situation to find the best solutions for you over the specific period of time needed, and help you make an informed decision.
What Types of Debts Can Be Consolidated into a Single Monthly Payment?
Debt consolidation can be done with several different types of debts.
It is possible for individuals to consolidate a wide range of different debts. This approach allows you to combine multiple debts into a single monthly payment, helping you avoid a bad credit score.
- Consumer loans;
- Personal loans;
- Utility debts;
- Credit card balances debts;
- Credit line debts;
- Unsecured credit line debts;
- Tax debts;
- Child support arrears;
- Student Loans
- Others personal bills