A single debt, a single payment!
Debt Consolidation 
consists in taking out a single loan from a financial institution to cover your total debts. You will then have just one monthly payment to make to the institution, which will handle the repayment of your debts.
Is this the solution for you?
- This option is suitable for certain types of debt, such as credit cards, public utilities or other consumer loans, but not for a mortgage, for example.
- You must have an acceptable credit rating as well as sufficient income to repay this loan and cover your regular expenses.
Advantages of debt consolidation
- You have just one monthly payment, consistent with your budget.
- You can benefit from a lower interest rate, particularly is you are consolidating your credit card debt.
- You can maintain a good credit rating if you act quickly and meet the terms of your loan.
You must…
- Ensure that the interest rate is reasonable.
- Ensure that you are in a position to pay the consolidated amount.
- Ensure that the repayment period is reasonable.
- Ensure that you do not reuse your credit cards and double your debts.
For more information on the debt consolidation, we suggest you speak to one of our counsellors. Contact an office near you for a free, confidential consultation.
