Do you have mounting debt? Are you struggling to pay off all your monthly bills in full and on time? Are you finding it almost impossible to get rid of credit card debt for good?
With the sky-high credit card interest rates being charged to the average consumer, it can be downright difficult to pay off monthly statements if you don’t pay them in full each month. Every time you leave debt on your credit card, the outstanding amount owing just continues to mount due to such high interest rate being charged on the outstanding debt every month. Some store cards charge as much as 30% interest per annum!
This is why debt consolidation programs have been increasing in Canada. More and more average consumers are taking advantage of such a process in order to help them pay off their debt faster. If you own your own home, then a home equity loan or line of credit could save you thousands in interest.
What is Debt Consolidation?
The process of debt consolidation loans involves combining all outstanding loans all into one payment. Rather than having to manage various loans – including car loans, unsecured loans, credit card bills, and so forth – consumers are able to deal with just one monthly bill every month, which makes things easier to manage.
By consolidating your debt, you stand to save thousands of dollars in interest payments. Since a second mortgage or secured home loan can be arranged with low interest payments, you can save a considerable amount of interest when you pay off the higher interest cards and loans.
Not only can debt consolidation help you pay off all your debt off faster, it also helps to free up cash flow that you might need for various types of expenses. Many people get a home equity line of credit so they can easily borrow at a low rate when the need arises. This helps if you are financing an education, making home improvements, making a large purchase or have suffered some financial difficulty through sickness or job loss.
Call the Experts in Debt Consolidation Loans Burlington
Lee Anne Taylor is an experienced independent mortgage expert in Burlington who has helped countless clients get free of their mounting debt by consolidating it into a home equity loan. Lee Anne and her team at Home Loans Ontario strive to help clients save money, and be alleviated from stress caused by debt.
If you’ve got plenty of bills to pay every month, and are looking to use the equity in your home to work for you, call Lee Anne Taylor today at (905) 336-8948 and she’ll be happy to discuss your options for debt consolidation with you! Visit www.HomeLoansOntario.ca today!