Debt consolidation is the process of taking all your debts (credit cards, store cards, personal loan debt etc) and consolidating the debts into one manageable loan. Debt Consolidation can be achieved several ways. The best option is to apply to a financial institution for a consolidation loan (or a personal loan) to pay out your other unsecured debts. If you are unable to secure a consolidation loan, you may need to consider a Debt Agreement or a Personal Insolvency Agreement. A Debt Agreement or a Personal Insolvency Agreement in effect consolidates unsecured debts and instead of paying your individual creditors you would pay a regular payment to us as your Debt Agreement Administrator or Trustee and we would distribute that money (less our fee) to your creditors. You must qualify for a Debt Agreement or a Personal Insolvency Agreement.
So if you are struggling to pay unsecured debt and cannot get a consolidation loan, call us today to see if you qualify for a Debt Agreement or a Personal Insolvency Agreement.
