Pros and cons of consolidating student debt
Related: More information on how a debt consolidation loan works Home equity is what’s left when you subtract what you owe on your house from what it’s worth.
Some people think of home equity as how much they’ve paid off on their mortgage.
However, by doing that, you run the risk of never paying your debt off.
Rather than using credit that never really has to be paid off to consolidate your debts, our experienced Credit Counsellors will help you look at all of your options.
Getting help from us is as easy as giving us a call or chatting with us online.
We know that it can be hard to ask for help with your debts, so we do everything we can to answer your call quickly, provide you with the information you are looking for and book you a free credit counselling appointment if that’s what you need.
You’ll not only have more options and solutions available to you, it will ease your stress and you may even sleep better (we find this is true with more than 60% of the people that we help).
A debt consolidation loan is when someone borrows money and then uses that money to pay off other debts.
There are likely other options you may want to consider as well.Depending on how much equity you have in your home, you might be able to borrow against it and use the cash you get to pay off debt.There are mortgage rules in Canada about using your home equity to consolidate debt.Our goal is to provide you with expert advice about your debts so that you can resolve your situation successfully.If you’re stressed and having trouble paying your debts, get help sooner than later.