Have you put too much money on your cards and now find yourself in need of debt consolidation? This is a common problem for many people, and you do not need to worry because there are ways you can consolidate debt without putting yourself into greater financial trouble. Here are several steps you can take toward getting your debt consolidation Canada Ontario.
First, figure out exactly what your credit rating is. It will be difficult to solve this problem if you do not understand all the components. Nowadays it is easy to find out your credit rating for a low or free price online.
Second, consider consolidating your debt onto a 0 interest single credit card. This is, of course, a step to proceed to with caution. You still need to make sure you keep up with monthly payments so that your credit rating does not get even worse. Having your debt all in one place at 0 interest, though, will make it more manageable then remembering to pay off multiple cards at varying time intervals.
Third, consider contacting a debt consolidation agency. To find a reputable agency, such as Don Antle, read up on debt consolidation canada reviews. Obviously many people dealing with debt are likely to be frustrated and disgruntled no matter what, but these reviews will give you an overall idea of whether agencies like Don Antle are reputable and doing good work for their clients, or if they are more scam like and prey on desperate people. Don Antle is one agency that specifically assists Canadian clients, but there are many more.
Fourth, consider paying off the debt in a lump sum, if possible. Creditors will often allow you to repay a decreased amount of credit if you pay it all at once, and this is likely to be to your credit score advantage rather than paying the full amount, possibly with interest, over a long range of time. Consolidation agencies such as Don Antle can give you an idea of whether or not this is a viable option for you. Good refereneces.