Line of Credit or Bank Overdraft to Consolidate Debts
You can use a line of credit or bank account overdraft to consolidate your debts into one monthly payment. The downside of doing this, though, is that you run the risk of never paying off your debt because there is no fixed repayment schedule to ensure the debt is paid off with a set number of years. Learn more about all the pros and cons of consolidating debt with a line or credit or overdraft.
Rather than using this type of credit that for many people never gets paid down very much, we can help you look at all of your options. Having a loan or repayment plan with one monthly payment that fits your budget will let you pay all of your debts off and get back on track with your finances.
Borrow Money from Family and Friends
What to do if Friends and Family are Willing to Help
When things get tough, friends or family members are often willing to lend a hand and might be willing to lend you the money you need to consolidate your debt or co-sign a loan for you. The downside of borrowing money from a family member or friend, though, is that if you struggle to pay the loan back, it may strain your relationship with them. Learn more about the pros and cons of consolidating debt by borrowing from friends or family. Before you head down this path, we’d suggest you speak with one of our experienced credit counsellors to see what they suggest. They may agree that this is a good option for you, or they may be able to show you some other options and help you put together a realistic plan to get out of debt on your own.
Debt Consolidation Advice
Choosing the Right Debt Consolidation Option
There are many debt consolidations options in Canada. Choosing the one that’s best for you takes time. You also want to find the best debt help and advice. To help you out, here are some suggestions about how to get the best debt consolidation advice for free. You can also feel free to speak with one of our accredited credit counsellors to get expert debt consolidation advice and look at all of your options.
Learn More About Debt Consolidation Options with a Workshop
Attend an Online Workshop to Learn How to Manage Money Better and Consolidate Debt
Rather than just trying to figure everything out on your own, avoid some of life’s financial bumps and bruises by learning from others. You can join one of our friendly, interactive financial online workshops, we call webinars, and learn how to create a realistic, personal budget that works, learn how to manage money better, improve your credit, and get out of debt. Lots of tips, suggestions, and debt consolidation methods are presented. Check out these free, online workshops and see if any are of interest to you.
If You’re Looking for Debt Consolidation Company Reviews
If you’re looking for the best debt consolidation company and reviews to back it up, we’d suggest you check us out. We help people explore all their options to get out of debt and then put together a plan to accomplish this. As a non-profit, our help is free and confidential.
We’re called the Credit Counselling Society. We are a leading debt and credit counselling service in Canada and are registered with the Government of Canada as a non-profit organization. We are also licensed by the provincial governments of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. Since we first opened our doors in 1996, we are proud to have maintained the Better Business Bureau’s top rating of A+ the whole time. You can also find around 1,500 reviews for the Credit Counselling Society on major review sites.
Your Next Step – Explore Your Debt Consolidation Options
What to Do If You Need to Consolidate Your Debts
If you’re looking for debt consolidation options, contact us to make a free, confidential appointment with one of our credit counsellors. They will help you explore your options and give you the information you need so that you can make an informed decision. Speaking with us is always free, confidential, and non-judgmental. You literally have nothing to lose but your stress, sleepless nights, and your debts .
