Start Get out debt without consolidating

Get out debt without consolidating

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When it comes to debt consolidation Canada is seeing increasing numbers of its residents looking for a way to reduce the number and amount of monthly debt payments.

Debt consolidation loans involve combining several high-interest loans or debts into a single debt with a lower interest rate.

Those living with the burden of debt often experience fear, anger, frustration and even depression.

If you pay the minimum balance on your credit card, it takes you much longer to pay off your bill.

A debt consolidation program works to simplify life for the consumer by replacing a number of bills with one lower monthly payment.

For example, a consumer with four credit card bills can get a debt consolidation loan to pay off the credit cards, resulting in one payment, rather than four.

Make sure that you always pay more than your minimum payments on you credit cards, overdraft, or line of credit.