It plans to consolidate our debts by contracting with our financial institution a credit line that we use to pay our creditors. It is thus possible to save interest costs, especially if our debts are due to our credit cards. It must however have an excellent credit record. We may also ask for credit card low interest rate, annual fee of about $ 50. In both cases, it immediately provides a way to pay and it is held tenaciously.
We can not even get a bank loan? The last thing to do would be to turn to a pawnbroker or a credit repairer. They require exorbitant interest rates. They may instead opt for voluntary deposit. This measure is to register our debts at the Registry of the Court and to pay a portion of our salary determined by calculations based on our income and our family. This sum will be distributed to our creditors in proportion to what they are owed. Voluntary deposit protects us against a possible garnishment of wages and furniture. And it has an interest rate of 5%. Note however that this solution will leave a stain on our credit record.
