Consolidating debt canada td
At Credit Canada Debt Solutions, we welcome anyone who needs advice on how to handle money and reduce or eliminate debt.
Our clients come from all walks of life and you are eligible for help regardless of your income level or employment status.
This is usually people’s preferred option since mortgage interest rates are usually much lower than other loan interest rates, and mortgages can be amortized (paid) over 25 years.
This means you can arrange much lower monthly payments than with another type of loan.
If you need help getting out of debt, you are not alone.
Banks and credit unions are typically only willing to lend people around 10% of their net worth (your assets minus your debts) on an unsecured basis.
Your Annual Percentage Rate (APR) will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history and amount of credit requested.
Your actual APR will be determined when a credit decision is made and may be higher than the rates shown.
To consolidate all of your debts, your first option would typically be to approach your bank or credit union and see if they can help you.
If you have a mortgage, you might look to see if you have enough equity in your home to consolidate your debt with your mortgage.