For information on debt consolidation in Montreal, take advantage of a free consultation with our advisor, Josée Brouillette. A.JB is the resource to consult before choosing this solution for your debt problems. We will explain whether another debt solution might be much more beneficial for you.
Debt Consolidation in Montreal
Which solution should you choose? Debt consolidation or a consumer proposal?
Debt Consolidation
If you need to make several high-interest monthly payments to pay off the balances of your credit cards, personal loans, or credit lines, it’s possible to consolidate your debts if your income allows it.
Getting a consolidation loan
You can inquire at a bank or another financial institution about the possibility of obtaining a debt consolidation loan. You’ll take out a single loan, reducing the interest rate and paying off your debts more quickly.
The bank or financial institution that grants you the consolidation loan will pay off all your debts, and in return, you’ll make a single monthly payment to them. Debt consolidation will not affect your credit score as long as you honor your commitment.
Is consolidation an option for you?
The financial institution will evaluate your request based on several criteria: stable and sufficient income, good credit history, value of your assets (house, partially or fully paid car), and the amount of the loan.
It’s important to carefully evaluate your case, as some debts (like tax balances) cannot be included in a consolidation loan, and the interest rates can still be significant. Sometimes, a consumer proposal may be the better solution.
A.JB can help you analyze your situation so you can choose the best solution. We are attentive to your needs and always available to answer your questions.
Contact us
For clear explanations on the debt consolidation process and expert advice on the options available to resolve your debt problems, schedule an appointment today! The A.JB team has your best interests at heart. We work quickly to ensure your financial problems are behind you!
For a free consultation at our Montreal offices or in other cities in the region, call (514) 313-6033.