If you own a house you can consolidate debt by using equity. Our loans are suitable for homeowners requiring unsecured loans for up to $10,000 with a fast approval rate. Mr. Hedmann is also the owner of Power-Can Financial Services Inc.
What Is a Debt Consolidation Loan?
A debt consolidation loan is a loan that allows a borrower to combine, or consolidate their unsecured debt into a single loan from a lender. Examples of unsecured debt include credit card debt and personal loans. Once the sources of unsecured debt are consolidated, the lender then pays them off while assembling the combined total into a package with a one interest rate.
These loans generally offer favourable total interest rates and the possibility of a lower monthly payment, as they combine several monthly payments into one. Debt consolidation loans will help get you out of debt faster, provided you keep a close eye on your finances and spending throughout the term of the loan. They are also tax-deductible, which can lead to additional savings.
Poor Credit? Unemployed? Not a Problem if you Own a Home
This is done in the form of a personal loan. If the personal loan manages to reduce your interest rate, the interest cost may decrease as well, thus allowing for easier debt payment.
If a debt consolidation loan seems like the answer for you, please contact us to schedule a free consultation either in person or on the phone with one of our knowledgeable associates, or request a loan online today.