Debt consolidating loan finance
This should make your debts easier to manage and save you money on fees and late payments.
Back to Top Debt consolidation will come in the form of either an unsecured personal loan or a mortgage refinance loan, which allows you to refinance your current mortgage and combine your unsecured debts into the mortgage at the same time.
A debt consolidation loan from Fairstone can help you experience debt relief and give you peace of mind knowing you’re working with a responsible Canadian lender.
While these streamlining loans may be genuinely beneficial for some, it’s important to know what you’re getting into before making the move to consolidate. Obtaining a debt consolidation loan means transferring the debt from a number of unsecured loans into a single, unsecured loan, or into one secured loan that uses an asset, such as a house, for collateral.
A debt consolidation loan may be a tempting option if you have a difficult time organizing multiple bill payments each month.
A debt consolidation loan may also be appealing for people who cannot keep on top of bills and loan repayments due to financial reasons.
This makes managing your debt situation significantly easier and often you can wind up paying less each month than you were paying before.
Back to Top Generally a debt consolidation loan allows you to consolidate all of your unsecured personal loans, credit cards and store cards.
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In Canada there are now eight commonly used ways to consolidate debt.