Debt Consolidation - Your Way Out Of Multiple Payments

Are you struggling to keep up with your monthly payments? Are you feeling overwhelmed by your debt? If so, our debt consolidation services may be able to help. At Powell Associates Ltd., we specialize in helping people consolidate their debts into one manageable payment. We can work with you to create a customized solution that fits your unique needs.

Benefits of debt consolidation

  • Combine multiple payments into a single & affordable payment.
  • Your overall cost is lower. Interest charges will be stopped or reduced.
  • Allows you to finally get ahead of your debt and take charge of your life.
  • Depending on the option, debt can be reduced and interest stopped entirely.

If you are considering debt consolidation, contact us today to schedule a free consultation. One of our Licensed Insolvency Trustees can help you determine what type of debt consolidation is the right option for you.

Discuss Debt Consolidation With A Licensed Insolvency Trustee

Debt Consolidation

Debt consolidation services can be extremely helpful in reducing your monthly payments and getting you back on track financially. By working with a debt consolidation company, you can combine all of your outstanding debts into one manageable payment each month. This can help you avoid missed payments and interest charges, and get your finances back on track.

The benefits of debt consolidation can be life-changing. With lower minimum payments, most consumers are able to get ahead of their financial struggles and move forward with their life.

Our Licensed Insolvency Trustees can help you find the best option for your unique needs and get your debt under control.

Get Back on Track with Debt Consolidation Services

If you are feeling overwhelmed by your debt or debt payments, our consolidation services may be able to help. We specialize in helping people consolidate multiple debts into one single monthly payment. We can work with you to create a customized solution that fits your unique needs. Contact us today to learn more about how we can help you get back on track!

There are two primary types of consolidation. The first is a traditional debt consolidation loan which involves borrowing money from a lending institution to pay off multiple debts. You are then left with this consolidation loan to pay off. The second is using alternative methods of consolidation such as debt settlement, consumer proposals, or in extreme circumstances bankruptcy.

What Debts Can Be Included In Debt Consolidation

Not all debts can be included in a debt consolidation plan. Generally, unsecured debts such as:

  • credit card debt,
  • lines of credit,
  • personal loans, and
  • Payday loans.

are all debts that can be consolidated. Even old personal debt consolidation loans can be included. However, secured loans such as mortgages, and car loans usually cannot be included.

If you are unsure whether or not your debts can be consolidated, contact us today to schedule a free consultation with one of our Licensed Insolvency Trustees.

Debt Advice. Tailored For You.

The Debt Consolidation Process

Step 1

Meet with a Debt Solutions Advisor

The first step in the debt consolidation process is to meet with a Debt Solutions Advisor. During this meeting, you will discuss your current financial situation and your goals for the future. The Advisor will help you determine if debt consolidation is an option for you and outline all of the relevant debt relief options available to you, including ones we do not directly assist with.

Step 2

Choose your preferred debt consolidation option

After meeting with the Advisor, you will be able to choose the debt consolidation option that is best for you. There is no pressure for you to pursue any specific option. We believe that when empowered with the proper information, consumers will choose the best debt assistance option for them.

Step 3

Implement your preferred debt consolidation option

Once you have chosen your preferred debt consolidation option, the next step is to implement it. If the chosen debt consolidation or debt relief program is one we can assist you with, you will work with our team of debt professionals to get a handle on your financial situation and allow you to settle your debt faster.

Step 4

Paying off your debt

The final step in the debt consolidation process is to pay off your debt. This will usually take time, but with a concerted effort, proper financial education, and one affordable monthly payment, you can be free of debt in no time. Once debt-free, you will be able to focus on your goals and live the life you've always wanted.

How Powell Associates Ltd. Helps You Lower Monthly Payments

Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress.

Our debt consolidation services ensure you are treated fairly and with dignity.

  • You won’t be stuck in an assembly line process.
  • You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.
  • We will review your debt solution options, including all the forms of debt consolidation.
  • We help Canadians with overwhelming debt get fresh financial starts.

Debt consolidation can be a great way to get your finances back on track. Our Licensed Insolvency Trustees can help you find the best option for your unique needs and get your debt under control. Contact us today if you need help with debt consolidation and to explore your options.

Frequently Asked Questions

Does debt consolidation hurt my credit score?

Debt consolidation may have an impact on your credit score. This depends on the option you choose and the actions taken before, during, and after the debt consolidation.

What are the risks of debt consolidation?

The risks of debt consolidation depend on the option you choose. Generally, there are two types of risks: financial and legal. Financial risks include things like increased interest rates and missed payments that can lead to negative credit history. Legal risks include things like lawsuits and wage garnishments.

It is important to weigh the risks and benefits of each debt consolidation option before making a decision. Our team of debt consolidation experts will ensure you understand all of the known risks associated with each option available to you so that you are fully informed.

It is important to note that not all debt settlement companies are equal. Ensure the firm you work with is licensed and regulated by the federal government.

Is consolidation good or bad?

Debt consolidation can be good or bad, depending on the option you choose and your overall financial situation. Some debt consolidation options, like a consumer proposal (read here about a consumer proposal vs debt consolidation), are designed to help you get out of unmanageable debt in a reasonable amount of time with minimal negative impact on your credit score. Other options, like bankruptcy, can have more severe consequences but may be a better solution for those who are unable to make any headway with their debt through other means. Talk to one of our Licensed Insolvency Trustees to learn more about the different options and find the best solution for you as not all credit consolidators and debt management services provide adequate advice on all options.

When it comes to getting out of debt, there is no one-size-fits-all solution. That's why Powell Associates Ltd. offers a variety of debt consolidation services to choose from, so you can find the option that is best for your unique needs. Our experienced team will help you every step of the way, from choosing the right solution to implementing it and paying it off.

What is the disadvantage of debt consolidation?

The disadvantage of debt consolidation is that it can have negative consequences for your credit score if you don't carefully choose the option and follow through with the plan. It's important to work with an experienced team like Powell Associates Ltd. to ensure you make the best decision for your unique situation and avoid any avoidable negative impacts.

Is this a debt consolidation loan?

There are a variety of debt consolidation options available, and not all of them involve taking out a loan. Talk to one of our Licensed Insolvency Trustees to learn more about the different options and find the best solution for you.

Our goal is to help you consolidate debt without taking on any additional loans, however, if it makes sense for your situation we will let you know. Debt consolidation loans work by allowing you to consolidate multiple payments with a new loan, and a single monthly payment.

We will cover all of your relevant debt consolidation options including, but not limited to: debt consolidation loans, debt management plans, bankruptcy, consumer proposals (often referred to incorrectly as a government debt-relief program), credit counselling, and debt settlement.