Saskatoon Debt Consolidation

Saskatoon Debt Consolidation

If you find yourself having to pay hundreds, or even thousands, of dollars per month for interest payments on credit, it may be time to consider a debt consolidation loan using your Saskatoon property as collateral.

Why Mortgage Brokers Instead of Financial Firms for Debt Consolidation

Many consumers who need help with debt are just in a little bit over their heads. For most Canadians, a debt consolidation loan that refinances debts at a much lower interest payment is all they need. However, businesses like credit counseling agencies actually make more money not getting you a debt consolidation loan, but getting you into options such as consumer proposals and even personal bankruptcy.

While it is true that options like these reduce the amount of debt owing, they are overkill in most cases and adversely affect your future credit and ability to do things like purchase a home. It can't hurt to come in and talk to us. If after we review your situation we feel that a consumer proposal or bankruptcy are solutions for you, we'll refer you to reputable businesses in Saskatchewan who can help you with these options.

No Stigma With Debt Consolidation Loans

Using your Saskatoon property as collateral, you can roll all of your credit into one low, monthly payment with zero stigma and while still meeting all your obligations to your lenders. There is no negative impact to your credit history, only a positive impact when the credit rating agencies see you paying off all your high-interest credit at once.

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Getting Your Good Financial Habits Back

To keep yourself from backsliding into debt again, set yourself up with a program like Mint.com which will email you if you go over budget in a certain area. It's helpful to know when you've reached your latte limit for the month. Your debt consolidation loan will save you hundreds of dollars each month that you can save, invest, or roll into a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP). After your debt consolidation loan, make your next appointment with a financial planner to make a plan for what you're going to do with your newfound funds.

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Mortgage Brokers Get Excellent Rates for Debt Consolidation Loans

Because of our excellent relationship with lenders, we can often find better interest rates for our clients than a credit counseling agency can. It's simple math; you do more business with a lender, you get rates that are more favourable. As a leading mortgage brokerage in Western Canada, First Foundation gets the best deals. We realize that you may not be coming to us with the best credit rating if you're looking for a debt consolidation loan, but with today's low interest rates, it hardly matters. You'll still get a great deal on your debt consolidation loan.

Call or email First Foundation today to find out what kind of deals we can get you for your Saskatoon debt consolidation loan.

Last updated Oct 29, 2018