Frequently Asked Questions

What is a Debt Management Program?

One of our partners support staff will take a look at your financial situation with you, either in person, or over the phone. Then our partners, will create a budget which best accommodates your needs and negotiate with your creditors/lenders. It is completely confidential, and easier than you may imagine.

What is a Debt Consolidation loan?

A Debt Consolidation loan is a personal loan which will allows you to combinemany other debts into one. For example you have three credit cards, you might be able to eliminate your credit card debt by getting a Debt Consolidation loan to pay off the credit cards, so that you only have one payment each month instead of three.

What Countries do you provide service to?

We can only help those who are residents of Canada or U.S.A.

Do I qualify for a Debt Consolidation loan?

To become a candidate for a Debt Consolidation loan you have to meet the following:

- The bank / lender that will be giving you a loan will require a copy of your monthly budget to determine if you are able to make the loan payments.

- You must be working, or have some other source of income so that you can repay the loan you barrowed.

- Banks determine your ability to service a debt based on your income, they will want to see your most recent pay stubs, and last year's tax return, when you apply for a debt consolidation loan. To satisfy the banks / lenders, you may need a co-signor or collateral (such as a car, boat or a house).

What are the Key Benefits of Consolidating Your Debt?

Lower monthly payments: By consolidating your debt your monthly payments are reduced by paying a lower interest rate.

Save on credit card interest: As we all know credit card interest is high, by getting a consolidation loan you will not pay the Credit card interest rate which can save you allot of money depending on your credit card interest

One monthly payment: Consolidating your debt can greatly simplify your financial life

What is the difference from Debt Management Plan and a consolidation loan?

in a debt management program, you make a single monthly payment to our partner to cover all of your outstanding payments. In return, you get a lower payment than you now make to creditors. This way you eliminate debt and stay debt free. We do not loan you more money. We make negotiate with your creditors/lenders to pay off your existing debt on conditions more suitable to you, As for a Consolidation loan your debt is combined and given a loan at a lower interest rate which results in a lower monthly payment, this will eventually help you eliminate your debt.

Do you lend money?

We under no circumstances lend money to any individual or corporation, but our partners are willing to help. If you need a loan to pay off your debt you would need to apply for a Debt Consolidation loan fill out our free no-obligation quote form and one of our partners will contact you.

Will this stop my creditors/lenders from calling me and harassing me?

Yes, your creditors/lenders will be more then happy to deal with our partners, and will stop all collection calls as long as you stick with your Debt Program.

What if I stop making payments and drop out of the program?

If you terminate the program this will damage your credit score and make it difficult or even impossible to restore your credit rating to what it was before you started on a Debt Management Program.

If you feel that you are not committed to a Debt management program then do not make an agreement because this will only cause more problems for you in the future.

What will happen to my credit rating if I join a Debt Management Plan?

Your credit rating will be given a R7 from the credit Bureau, A R7 means that you are in a voluntary program to make payments.

When will I get a good credit rating back?

It takes 2 – 3 years after you have completed the Debt Management Program. This will result in the Credit bureau to drop the R7 rating and then you can start to work towards a better credit rating.