In order to pay for your unsecured debt you can obtain a Debt consolidation Loan or a Secured Loan. The approval for the loan depends on two factors, your existing credit history and your income capacity to pay back the loan amount. This loan does come with an interest rate which is at times lower than the regular interest rate charged by the bank credit cards and store credit cards.
What is a Secured Loan?
A loan which is secured against a property that you own is termed as a secured loan. At Credit Management Services, a licensed agent can help you obtain a secured loan to pay your high interest credit cards and other debt. You can book a free information session at one of our offices to know more about it and if you qualify for such program. Get started by giving us a call.
What is a Debt consolidation Loan?
It is an unsecured loan just like a personal provided by the bank to pay all the existing creditors. As a result you will be paying just one loan instead of different credit cards separately. It might not have a big difference on the interest charges and the monthly payment. There are high chances of not qualifying for this loan because the banks have very tough approval criteria for this kind of a loan.
Any questions?
Call us today at 416-780-1020 or get started with our Quick Assessment Form and book your free consultation.
With five offices in different parts of Greater Toronto Area, a counsellor at Credit Management Services will work for you to make you debt free again.
