Do I need help?
Should I consolidate my debts?

When you are in debt, it seems that no matter how much you owe, it’s too much. It can become overwhelming and you begin to wonder if a program of debt consolidation could help you. Take a minute and ask yourself these questions:

1. Are you struggling to make minimum payments?
2. Are your interest rates rising continuously?
3. Is your debt preventing you from sleeping?

If you answered yes to any of these questions and you feel your bills credit cards are in a spiral out of control, a program of debt consolidation credit card may be the best option for you. Consolidate your debts into one monthly payment low interest rate can save you thousands of dollars and accelerate the repayment of your debts. Furthermore, over a period of time, you can usually improve your credit score because you have made constant monthly payments to your creditors while reducing your debt faster.

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.

Advantages of debt consolidation

• Generally a lower interest rate.
• All your creditors will be paid in full and promptly. Therefore you can maintain a good credit rating.
• Your financial management is simplified (only one creditor to pay).
• Easier to establish and meet your budget.
• Reduce your debt ratio.