Debt Consolidate in Alberta: Your Path to Financial Freedom

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Debt Consolidate in Alberta Your Path to
Financial Freedom
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• About Us

• We at Credit720 work for you in a similar way
  just as your Tax Consultant or Accountant. You
  hire our expert advice in debt negotiations as we
  help protecting your assets and safeguarding your
  rights as our esteemed client.
• At Credit720, our goal is to protect your best
  self-interest and not the creditors. Debt
  Consolidation, Consumer Proposal - Calgary
  Edmonton Region.

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• Debt Consolidate in Alberta Your Path to
  Financial Freedom

• If youre trying to manage bills that are piling
  up, you may have come across the idea of
  consolidating them. Consolidating your debts can
  be convenient, allowing you to make one monthly
  payment. 

• It can also allow you to swap high-interest debt
  for low-interest debt. However, it has drawbacks
  and is not right for everyone.

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• Here are some debt consolidation strategies to
  keep in mind as you plan for paying off your debt

• Balance Transfer
• A balance transfer involves opening a new credit
  card with a low interest rate (for a promotional
  period). You then move your previous debt(s) to
  this new credit card. In effect, you will have
  reduced your interest rate from a high rate on
  the old debt to a lower rate on the new card.
• You will typically pay a fee for the amount you
  transfer (although some cards waive the fee for
  applicants with excellent credit), and there will
  be a limit to how much you can transfer.

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• Balance Transfer
• This is a smart strategy IF
• You have good enough credit to receive a low
  percent promotional rate. Note it is an even
  better strategy if you have excellent credit and
  can avoid a transfer fee.

1. You will pay off all the debt transferred before
   the promotional interest rate expires.

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• A Debt Consolidation Loan
• A consolidation loan works much like a balance
  transfer, but you would be receiving a loan
  rather than a line of credit.

• The process would involve opening the loan, using
  funds from the loan to pay off the previous debt,
  then repaying the loan.
• Like with balance transfers, better terms will be
  reserved for borrowers with good to excellent
  credit.

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• A Debt Consolidation Loan
• This is a smart strategy IF
• The loan provides better terms than any balance
  transfer available to the applicant OR the
  applicant is concerned about being able to pay a
  balance transfer debt during the promotional
  interest period.
• The interest rate on the loan is significantly
  lower than on the previous debt(s), meaning the
  borrower has good to excellent credit.
• The borrower can avoid origination fees.

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• Debt Management Program
• The two strategies discussed so far are primarily
  reserved for people with good to excellent
  credit. But what about if you have high interest
  debt and a credit score that is not good or
  excellent? In that case, there are some options.
  A few involve significant risks, and we do not
  generally recommend them (things like HELOCs).
• In a debt management plan, you work with a credit
  counseling to pay off your debts. The counselors
  have relationships with creditors, and in many
  cases your creditors will reduce interest rates
  and waive fees while you are on the plan.

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• Debt Management Program
• You make one monthly payment under the plan, and
  the counselors distribute that payment to your
  creditors. So technically, a debt management plan
  is not a form of consolidation.
• That is because under the plan your accounts
  remain separate and are not consolidated into a
  new financial commitment.
• However, it provides the benefits of
  consolidation, because you only must make one
  monthly payment and you often receive reduced
  interest rates.

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• Debt Management Program
• This is a smart strategy IF
• Your credit does not qualify you for good rates
  on a balance transfer or consolidation loan
  AND/OR you would like to have a counselor
  resource and financial education during your
  repayment AND/OR you have experienced a
  financial setback such that even if you received
  good terms on a consolidation product, it would
  be difficult to make payments.
• You have primarily high-interest unsecured credit
  card debt.

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Contact Us
Red Deer 924, 4747 67th St,Red Deer AB, T4N
6H3Telephone [phone]Fax (780)
666-9721Email info_at_credit720.ca Edmonton
South 9856A 33 Ave NW, Edmonton AB T6N
1C6 Telephone [phone] Fax (780)
666-9721 Email info_at_credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A
4L2 Phone [phone] Email info_at_credit720.ca
Lloydminster(Alberta Saskatchewan) Unit 102,
4802 -50th Avenue, Lloydminster, AB T9V
0W5 Phone [phone].666.2600 Email
info_at_credit720.ca
http//www.credit720.ca