Before you commit to a bankruptcy or consumer proposal procedure due to your accumulated debts, take a moment to think about it…🤔
Yes, with the current market situation, it’s easy to pile up debts through credit cards or personal loans. If you own a home with equity, you might consider making a proposal. However, we advise you not to rush.
Contact us; we have THE solution for you: refinancing!🙌
Refinancing, An Overlooked Solution
Often, we have conversations with clients who tell us: “I filed for bankruptcy” or “I made a consumer proposal.” Each time, we can’t help but think: “If only they had called us before making such a decision. We could have explored the possibility of refinancing together.”
The Benefits of refinancing
Refinancing your home can allow you to pay off your debts. By spreading the repayment over a period of 30 years, it can considerably reduce your monthly payments and make managing your debts much simpler and more affordable. In addition, you will avoid many problems associated with a bankruptcy or a consumer proposal.
The Impact of Refinancing on Your Credit
A bankruptcy or consumer proposal can linger on your credit report for a long time, and that doesn’t help you. With refinancing, you can manage your debts more efficiently and avoid these negative marks on your credit file.🤯
The Final Word: Think Refinancing!
So, before you commit to bankruptcy or a consumer proposal, consider refinancing. Contact us to discuss your options.
We are here to help you find the best solution for managing your debts.
*This article is based on advice from our mortgage broker Bita Niazi.
*This content is for informational purposes only and does not replace professional financial advice. Each situation is unique and requires individual analysis.