Consolidating debt with td
Not paying creditors will also show up as a negative transaction on your credit report that makes it harder to borrow more money.
And then there’s the risk of increasing your debt if you fail to make your payments under a debt settlement program.
Reduce your debt, get your credit back on track and find relief with a consolidation loan from Fairstone.
There are dozens of ways to go about consolidating debt, and some include transferring the 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 consolidation plan.
When researching consolidation plan options, you may come across what’s known as debt consolidation companies.
Some of these debt consolidation companies are legitimate; according to the Consumer Financial Protection Bureau, however, others are incredibly risky.
That’s because some may be debt settlement companies that convince you to stop paying your debts and “instead pay into a special account,” the CFPB warns.
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A loan from Fairstone can help you experience debt relief, but also give you peace of mind knowing you're working with a responsible Canadian lender.