Bankruptcy Waterloo – Access Mortgage
Have you found yourself in a mountain of debt to numerous creditors? Have you been through every other strategy for debt relief? Are you leaning towards filing for bankruptcy in Waterloo even knowing that it will cripple your credit for many years? Well Access Mortgage is here to tell you, THIS IS NOT THE ANSWER! We want to hear from you first if bankruptcy is something you are thinking about doing. There are other ways for you to achieve debt relief that DO NOT damage your credit, but instead, help repair it and improve it! Doing a debt consolidation and refinancing is a strategy that Access Mortgage can assist you with for debt relief. Don’t believe a bankruptcy trustee that you may have been talking to if they say that bankruptcy or a consumer proposal is the only option available to you. THERE ARE OTHER WAYS. Read on for more information about bankruptcy in Waterloo, and why you should contact Access Mortgage today.
At Access Mortgage, we often advise our clients to AVOID FILING FOR BANKRUPTCY IN WATERLOO. Adopting this strategy, and filing for bankruptcy can end up crippling your credit for up to 7 years. It is common for people to take advice from bankruptcy trustees and credit counsellors who suggest bankruptcy, consumer proposal, or credit counselling are their only ways out of debt. However, refinancing and doing a debt consolidation is far better and safer options for debt relief. Instead of damaging your credit, they will help to repair it and improve it. Let’s take a look at these strategies for debt relief:
Debt consolidation is a type of debt refinancing that allows consumers to pay off other debts. In general, debt consolidation entails rolling several unsecured debts, such as credit cards, personal loans or lines of credit, into one single loan, often at a much lower interest rate. There are dozens of ways to do this, and some include transferring debt to a zero or low-interest credit card, taking out a debt consolidation loan, applying for a home equity loan or paying back your debt through a debt repayment plan. The benefits of debt consolidation with Access Mortgage include:
- Lower monthly payments that are affordable, and consolidated debt that can usually be paid over a long term or short term.
- Reduced interest on your debt so you save money – often hundreds and even thousands of dollars over time
- A simple monthly payment instead of many payments.
- Avoiding bankruptcy in Waterloo, which severely limits your financial future
When we do Debt refinancing we usually try to combine all debt into a single new mortgage. This is because the lowest interest rate and payment is available through a secured loan such as a mortgage. Sometimes we do this using your existing lender, or sometimes with a new one. Refinancing your loan has the potential to do several things. It will likely reduce your payments, remove all of your high interest debt, and, most importantly, significantly improve your credit score.
Instead of damaging your credit for years by filing for bankruptcy in Waterloo, filing for a consumer proposal or getting credit counselling, Access Mortgage can set you on the right path to debt relief through other strategies like doing a refinance and debt consolidation.
For more information about how to avoid bankruptcy in Waterloo, please feel free to continue browsing through our website. Click here to find our contact information and to fill out our contact form.