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Debt Consolidation in Sudbury

Are you being overwhelmed by debt? Do you find yourself dealing with call after call from lenders? Is it getting harder to keep track of all the different payments you have? If you’re someone with many different kinds of debt, from credit card debt to student loan debt, it may be difficult to manage them all. Debt consolidation in Sudbury can help remedy the situation, giving you just one loan to worry about instead of several. At Beth Maynard & Associates, we are familiar with debt consolidation and can help you determine if it’s the right method for managing your multiple payments.

What Is Debt Consolidation?

Debt consolidation takes all of your loans, debts, and bills and combines them into one loan. You will then only have to worry about paying off this one single loan through monthly payments. A debt consolidation can be issued by a bank, a credit union, or a debt consolidation company once you have proof of income. There are many reasons someone may consider debt consolidation in Sudbury. For example, it can simplify your finances by having only one payment to worry about as well as help you save money by reducing the interest rate if you qualify for a lower rate on your consolidation loan.

Advantages & Disadvantages of Debt Consolidation

It’s important to weigh the pros and cons of debt consolidation carefully before making a decision. Here are some advantages and disadvantages of consolidating your debt:

Advantages

  • Only one monthly payment to worry about

  • A lower interest rate is possible

  • Debt will be paid off in a set amount of time (e.g. 2 to 5 years)

Disadvantages

  • May require security or collateral to consolidate

  • A decent credit score is required

  • Interest rate for unsecured consolidated loans can be high

Talk to Beth Maynard & Associates about debt consolidation in Sudbury. We can look at your financial situation and offer advice on how best to manage your debt. Our Licensed Insolvency Trustee will be able to determine if debt consolidation is the right option for you. Call today to book an appointment.

Serving: sudbury | Elliot Lake | Blind River

Company

Main Office

1414 Lasalle Blvd

2nd Floor

Sudbury, ON P3A 1Z6

PHONE: 705-524-3034

fax: 705-524-3036

LOCATIONs

18 Lawton Rd
Blind River, ON, P0R 1B0

13 Manitoba Rd
Elliot Lake, ON, P5A 2A6

Phone: 705-848-0471

HOURS

Monday – Friday: 8:30 AM to 4:30 PM
Evening and weekend appointments available.

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