member profile picture
Posts: 1
Credits: 29.8
[Donate]

Is debt consolidation a good option? I am a businessman and I have some debts in the form of a home loan and an auto loan.

And also, my business profit is average. So, I need to do something to fix the debts. What is debt consolidation? I have seen, the advantages are low-interest rates, low monthly payments and getting rid of too many bills. Can anyone explain me all these?

Once we have agreed to the debt consolidation plan, it's important to understand the potential consequences first. What are the consequences? Any idea? I don't have a good credit score too.

My friend came up with a suggestion to billfixer.com/locations/debt-consolidations-bankruptcy-services-mississauga-ontario/ meet a debt consolidation company in Mississauga for further proceedings. I want to know the details. Hope you can give me some information on debt consolidation.
Thank you.




Is debt consolidation a good option?

Yes. It's a good option to pay off your unsecured debts. Unfortunately, you can't pay off secured loans through debt consolidation.

What is debt consolidation?

It's a debt relief option that helps you combine your multiple debts into a single and affordable repayment plan. The debt counselors negotiate with your creditors for a lower interest rate on your bills. This helps to lower your monthly payments too. You have to make a single monthly payment every month and the debt counselors will disburse the amount among your creditors as per the agreed terms and conditions.

Sub: #1 posted on Tue, 11/28/2017 - 15:03

SC SC
Moderators
(Posts: 3912 | Credits: 396.21)

Debt consolidation is a good way to merge your all debts into a single repayment plan. You can also take out a debt consolidation loan to pay off all your debts. Make sure you make the payments of the new consolidation loan on time to avoid further debt.

Sub: #2 posted on Wed, 11/29/2017 - 17:46

sanderspatricia29 sanderspatricia29

(Posts: 563 | Credits: 58.99)

Paying your debts in one single monthly payment, that's the biggest benefit of debt consolidation. And your credit score will also remain intact :)

Sub: #3 posted on Thu, 11/30/2017 - 17:38

tiarajoseph11 tiarajoseph11

(Posts: 279 | Credits: 40.17)

Debt consolidation is a good option to manage your multiple bills with ease. However, if you're opting for professional help to consolidate debts, make sure you choose a good consolidation company.

Sub: #4 posted on Fri, 12/01/2017 - 18:36

Good Nelly Good Nelly
Industry Expert
(Posts: 2647 | Credits: 530.54)

Sub: #5 posted on Fri, 12/15/2017 - 14:19

Rose Baker Rose Baker

(Posts: 6 | Credits: 1.1)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 0.796 seconds.