What is debt consolidation? Basically, it involves rolling all your current loans into a single loan. Instead of having to pay multiple institutions multiple monthly repayments, you can instead just pay a single monthly repayment to a single company. “Why would you do that?”, one might ask. Well of course, there are some benefits, and there are some risks.

Let’s start with the benefits.

1. Less paperwork. Obviously, dealing with a single lender is a lot easier than having to deal with multiple.
2. Easier to budget. If you only have to budget for a single repayment during the month, then this makes things a lot easier. Juggling multiple repayments due at different times of the month can be very confusing.
3. Save on fees. If you’re only going through a single lender, this will probably mean that you will end up paying less in fees and charges overall.
4. Cash savings. Ultimately, the main reason you would want to consolidate your debt is to save money. By choosing a loan with a lower overall interest rate compared to your current loans, you’ll end up paying less per month and less in the long run.

But beware, there are some risks as well.

1. Longer loan term. Although the new loan may have an attractive interest rate with lower monthly repayments, a loan with a very long term will cost a lot more than you think. You’ll end up paying more in interest and fees over the long term.
2. Get deeper into debt. Debt consolidation may allow you to borrow more money. For example, if you transfer your current credit card debt onto your mortgage, you might be tempted to continue using your credit card and get yourself further into debt. This would defeat the purpose of consolidation.
3. Lose your home. By transferring unsecured debt (such as the debt on your credit card) into a secured debt (for example, using your home as security), if you’re unable to make repayments in the future, you might end up losing your home.
4. Equity stripping. Some dodgy lenders might convince customers who are desperate to save their home to sign up to a dodgy loan agreement. These usually have high fees which are paid out of the equity of your home. For example, before refinancing, one couple may have owned 16.2% of the equity in their home. After refinancing, they only owned 11.9%. That’s a loss of 26.5%.

And here’s the take-home message for today.

1. Make sure to read the fine print. Don’t let brokers convince you not to read the paperwork.
2. Understand all the fees and charges before you sign up.
3. Never sign a blank document.
4. Don’t believe unrealistic promises. Brokers who claim that they can get you of debt are con men. If they claim they can help you no matter how desperate your financial situation, then they are probably trying to swindle you.

But my number one recommendation would be:

5. Don’t get into too much debt. Too much debt will cripple you, so the best thing to do is to live within your means and stop trying to keep up with the Joneses.

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RELATED LINKS
ASIC’s MoneySmart – Debt consolidation and refinancing
https://www.moneysmart.gov.au/managing-your-money/managing-debts/consolidating-and-refinancing-debts

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Credit Counselling or Debt Management – Avineet Kalsey – BSCC – Reducing Personal and Business Debt Load – Recent interview series, Part 13, where Avineet Kalsey tells us about the differences between credit counselling and debt management, and how it can help you finally get out of debt.

Debt reduction is front and center on many Canadians’ minds right now with soaring household debt levels – it doesn’t have to be this way – call our experienced credit counselors such as Avineet Kalsey right now. You don’t need to struggle with debt, BSCC can help reduce your debt by over 50%-90% RIGHT NOW – call us today at 1-866-790-8984 – its free!

or Visit:

Business Solutions & Credit Counselling Services

Surrey/Vancouver office:
12033 92A Ave #205 Surrey, BC V3V 4B8
Tel: 604-951-8984
https://www.google.com/maps/d/edit?mid=z3X9D1QmScWs.kjLPMNEqwaxo

Toronto Office:
#43 – 8500 Torbram Road
Brampton, ON L6T 5C6
Tel: 905-789-8984
https://www.google.com/maps/d/edit?mid=z3X9D1QmScWs.kfJ5qQURWhEs

Calgary Office:
#210-3132 26 Street NE
Calgary, Alberta T1Y 6Z1
Tel: 403-714-8984

Edmonton Office:
Tel: 780-716-8984

Abbotsford Office:
#1A – 2497 Clearbrook Road
Abbotsford, BC V2T 2Y3
Tel: 604-951-8984
or Nationwide call: 1-866-790-8984

http://www.bscc.ca/
https://plus.google.com/u/0/100755473303544230759/about

Don’t spend another year racking up unnecessary debt and dig yourself deeper into an unrecoverable situation – we can help! You can avoid going into bankruptcy – it’s a negative mark on your credit and can last for 7-10 years – where a neutral credit counseling notation is REMOVED once someone completes the program. You really can turn your financial life around quickly – just call us and receive a free evaluation of your situation with some helpful advice and absolutely no obligation to take any action if you don’t wish to.

Remember – you DO NOT (and in a lot of cases, SHOULD NOT) always have to go into bankruptcy – we can share valuable information about your options that your bank or other credit counseling companies may not be willing to share with you – because it’s not in their best interest! We work on YOUR behalf, and thus ensure that you receive the very best information for your specific situation. Contact us today at BSCC for a free consultation about your finances – 2018 can be your year that you begin on the journey to finally becoming debt free!

For over a decade, the professionals at Business Solutions and Credit Counselling Services (BSCC), a registered, government-approved credit counseling firm, has assisted hundreds of thousands of consumers throughout Canada to avoid declaring bankruptcy, prepare a consumer proposal, rebuild their credit rating, and pay off their excessive charge card debt. These are clients who were once struggling to manage excessive debt and financial obligations. We work with each client individually, designing manageable, realistic programs to relieve their financial burden and stress.

For more information about using effective debt counseling nationwide wherever you live in Canada – and how to avoid bankruptcy and becoming debt free from high credit card debt or even business bankruptcies, please visit us at http://www.bscc.ca or call 1-866-790-8984 today! We have credit counseling offices in Toronto, Vancouver (Surrey), Calgary, Edmonton, and Abbotsford.

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Hi Guys and welcome to my channel! I hope you like this video and consider subscribing to my channel, so you can follow me as I become debt free. If you haven’t already please hit that bell so you don’t miss any new videos. Thanks again for watching!

If your debt is great and you are serious about getting out of debt, debt consolidation may be an option may be an option. But what is it and will it work for me? I answer these questions in this video.

What is Debt Consolidation? Should I do it?
https://ownthelifeofyourdreams.com/financialfreedom
_____

What is Debt Consolidation? Should I do it?
If you are under a mountain of debt there are a ton of terms that are thrown around that offer relief for your woes. Words like bankruptcy, Chapter 11, Chapter 13, debt relief, debt consolidation but you have no idea which one is for you. In this video, I will be discussing debt consolidation. I lay out the pros and cons so you can make an informed decision about if this will work to help you achieve your financial goals.
—–
?My #1 Recommendation To Make A Full-Time Income Online CLICK HERE ?????? https://ownthelifeofyourdreams.com/financialfreedom
???????????????????????? ?MY FREE GIFT: My Wealth Abundance Method to help you reach financial freedom quickly: https://ownthelifeofyourdreams.com/financialfreedom ??????????
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Connect with me:
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??Text Me: (832) 985 – 9984
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Video Credits:
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Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
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Artist: http://incompetech

Disclaimers: This description contains endorsements for products and services, which means when you click on a link that we recommend, we may receive a commission. Not every link is an affiliate link, but some are. Thanks for watching!!!

#debtconsolidation #isdebtconsolidationgood #payingoffdebt

Having trouble balancing your budget each month? Struggling to make ends meet? Credit counselling may be right for you. Our BIA certified insolvency counselors hear your concerns and design a program that specifically addresses your individual financial challenges.

Tel : 044 382 0670 Office cell: 082 553 8418 or 082 440 7155
Website: http://credicare.co.za/
Facebook: https://www.facebook.com/CrediCare

Tired of debt?
Can’t keep up with your monthly instalments?
Can’t cope with making ends meet?

Debt can get you feeling down, frustrated and scared. We often feel like there is no hope, or that things are just getting worse. Debt counselling may be the solution for you.

What is Debt Counselling?
Debt counselling is a debt relief measure, which is regulated by the National Credit Regulator and by the NCA. The debt counsellor will negotiate with your credit providers for a lowered instalment, interest rate, and an extended period over which the debt is to be paid. The debt counselling team will assist you with amending your budget and monthly expenditures so that you will be able to afford to live with ease and still maintain stable debt repayments.

Who can apply?
The answer is simple; anyone that has financial problems can apply for debt review. Your application will be assessed and if you are found to be over indebted, our team will proceed with the application and help you.

What do we need?
We need the following documentation:
– Proof of residence,
– Three latest payslips,
– Your marriage certificate,
– Copies of your ID and your spouse’s ID (if you are married),
– A copy of your latest bank statement.

This process is 100% confidential. We will not tell your friends, employers, or anyone else that you are under debt review.
Drop us a message on Facebook, or an email for more information.
You can give us a call too!
Facebook: Credicare
Email: response@credicare.co.za, admin13@debt-assist.co.za

Thinking of using a Debt Consolidation company? Join me to find out the “10 Questions you must ask before signing up” and the surprises in the fine print.

Mark’s Money Matters was created to help people break their addiction to credit and bring some sanity to their finances. I want to try to reach as many people as I can to answer their questions about getting out of debt so please share your comments and questions here. You can also e-mail me your questions at mark@markmartella.com .

To subscribe to this channel click on the following link: https://www.youtube.com/channel/UCIQo…

Mark Martella is a bankruptcy attorney by trade but his goal is to put bankruptcy attorney’s out of business through educating consumers about how not to get sucked into the black hole of debt. Mark offers educational videos as well as resources on his website for Money Matters that can be found at http://www.markmartella.com/

On this website you will also find past episodes of his shows and blog posts.

Mark is also the author of a book on bankruptcy just for consumers entitled “Bankruptcy in Plain English- The Ultimate Layman’s Guide to Taking the Fear and Mystery out of the Bankruptcy Process so You Can Get a Fresh Start.” It’s available on Amazon by clicking on this link:

https://www.amazon.com/Bankruptcy-Pla…

His other websites with information on bankruptcy and estate planning can be found at:

http://martellabankruptcy.com/
and
http://martellalaw.com/

You can also follow him on Facebook by liking these pages:

Mark’s Money Matters
https://www.facebook.com/martella2017/

Mark Martella’s Legal Notes
https://www.facebook.com/martellalaw/

Clear Your Debt & Take Back Your Life Here: https://bit.ly/316MRtY

SPOTIFY : https://open.spotify.com/album/3kIUmStYlCKTlM9eZmN1Nb?si=p53-ttS4S16U1PujS4tI1Q

ITUNES : https://music.apple.com/us/album/nevers-road/1477708731
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Witt Lowry :

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FACEBOOK: https://www.facebook.com/WittLowry
TWITTER: https://twitter.com/WittLowry
INSTAGRAM: https://instagram.com/WittLowry
SOUNDCLOUD: https://soundcloud.com/WittLowry

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Song produced by Dan Haynes & Dwilly :

Dan Haynes
TWITTER: https://www.twitter.com/danhaynesprod
SOUNDCLOUD: https://www.soundcloud.com/danhaynesprod
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Dwilly
SPOTIFY: https://open.spotify.com/artist/3XyvBNwsPBVhCXoYLNNQ84?si=v2ClCS9qTbe5Cc3q10U72A
INSTAGRAM: https://instagram.com/itsdwilly

—————————————-­——————————–

Dia Frampton :

SPOTIFY: https://open.spotify.com/artist/3ppkM4QtM781APpaX7H9t7?si=twGJ4dyrTiS04x08uAdjaQ
INSTAGRAM: https://instagram.com/diaframpton

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Mixed & Mastered by John Will : @iamjohnwill

Business Solutions & Credit Counselling Services – BSCC in Canada – Recent interview series, Part 1, where Avineet Kalsey explains what is currently driving record levels of consumer debt in Canada.

Debt reduction is front and center on many Canadians’ minds right now with soaring household debt levels – it doesn’t have to be this way – call our experienced credit counselors such as Avineet Kalsey right now. You don’t need to struggle with debt, BSCC can help reduce your debt by over 50%-90% RIGHT NOW – call us today at 1-866-790-8984 – its free!

or Visit:

Business Solutions & Credit Counselling Services

Surrey/Vancouver office:
12033 92A Ave #205 Surrey, BC V3V 4B8
Tel: 604-951-8984
https://www.google.com/maps/d/edit?mid=z3X9D1QmScWs.kjLPMNEqwaxo

Toronto Office:
#43 – 8500 Torbram Road
Brampton, ON L6T 5C6
Tel: 905-789-8984
https://www.google.com/maps/d/edit?mid=z3X9D1QmScWs.kfJ5qQURWhEs

Calgary Office:
#210-3132 26 Street NE
Calgary, Alberta T1Y 6Z1
Tel: 403-714-8984

Edmonton Office:
10665 Jasper Ave,
Edmonton, AB, T5J 3S9
Tel: 780-716-8984

Winnipeg Office:
330 St. Mary Ave,
Winnipeg, MB, R3C 3Z5
Tel: 204-962-8984

Abbotsford Office:
#1A – 2497 Clearbrook Road
Abbotsford, BC V2T 2Y3
Tel: 604-951-8984
or Nationwide call: 1-866-790-8984

http://www.bscc.ca/
https://plus.google.com/u/0/100755473303544230759/about
https://www.youtube.com/watch?v=b7NxZ9N0GUE

Don’t spend another year racking up unnecessary debt and dig yourself deeper into an unrecoverable situation – we can help! You can avoid going into bankruptcy – it’s a negative mark on your credit and can last for 7-10 years – where a neutral credit counseling notation is REMOVED once someone completes the program. You really can turn your financial life around quickly – just call us and receive a free evaluation of your situation with some helpful advice and absolutely no obligation to take any action if you don’t wish to.

Remember – you DO NOT (and in a lot of cases, SHOULD NOT) always have to go into bankruptcy – we can share valuable information about your options that your bank or other credit counseling companies may not be willing to share with you – because it’s not in their best interest! We work on YOUR behalf, and thus ensure that you receive the very best information for your specific situation. Contact us today at BSCC for a free consultation about your finances – 2018 can be your year that you begin on the journey to finally becoming debt free!

For over a decade, the professionals at Business Solutions and Credit Counselling Services (BSCC), a registered, government-approved credit counseling firm, has assisted hundreds of thousands of consumers throughout Canada to avoid declaring bankruptcy, prepare a consumer proposal, rebuild their credit rating, and pay off their excessive charge card debt. These are clients who were once struggling to manage excessive debt and financial obligations. We work with each client individually, designing manageable, realistic programs to relieve their financial burden and stress.

For more information about using effective debt counseling nationwide wherever you live in Canada – and how to avoid bankruptcy and becoming debt free from high credit card debt or even business bankruptcies, please visit us at http://www.bscc.ca or call 1-866-790-8984 today! We have credit counseling offices in Toronto, Vancouver (Surrey), Calgary, Edmonton, and Abbotsford.

Become our fan on Facebook:
https://www.facebook.com/CreditAndFinancialCounselling

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