Pay back a portion of your debt within 5 years and keep certain assets
DEBT CONSOLIDATION IN CANADA: YOUR LOCAL MNP LTD TRUSTEE CAN HELP
Debt consolidation might be the ideal solution if you want to break free from the cycle of debt but don't want to take the drastic step of declaring bankruptcy. At MNP LTD, you'll find knowledgeable Licensed Insolvency Trustees who know how to guide you through the process of consolidating credit from beginning to end — or recommend an alternative way to help put your finances in order.
If you're finding it a struggle to pay bills on time and you want to know how to become debt-free, the time is right to arrange a free confidential consultation with an MNP LTD Licensed Insolvency Trustee. With our hands-on assistance and impartial advice, you'll soon see that you have options when it comes to overcoming debt.
Make your repayments more predictable
If you have multiple debts that are difficult to coordinate and repay, a debt consolidation loan might just be the ideal solution. Consolidating credit means you know exactly how much you owe and how often you need to make repayments, which can help to take the guesswork — and the stress — out of your finances.
It's really very simple: with the help of your local MNP LTD Licensed Insolvency Trustee, you will apply for a debt consolidation loan from your financial institution, which, once approved, is used to pay your creditors. After that, you're left with one monthly payment, which is typically provided at a lower interest rate than credit card debt.
Here's what you need to know:
- To qualify, you may need a co-signer or somebody to guarantee your loan.
- If you have equity in your home, you may be able to obtain a second mortgage to consolidate your debts into one monthly payment.
- Debt consolidation may be your most suitable option if you have a decent credit score and your budget is enough to cover the monthly repayment amount.
The right solution for you
You can rest assured that our insolvency team has decades of experience helping individuals overcome debt. In addition, we understand that the process of consolidating credit can be extremely stressful to deal with, so our Licensed Insolvency Trustees work hard to get to the root of your financial difficulties and map out the path to stability.
If, for example, your credit rating is less than ideal, you can count on MNP LTD to explain the alternatives available to you, from declaring bankruptcy to an informal debt settlement. Don't let debt take control of your life. Find out how a free consultation with your local MNP LTD Licensed Insolvency Trustee could be the first step towards debt-free living.