Debt Consolidation

Toronto’s Debt
Relief Specialists

  • We Will Solve Your Money Problems

    Let our experts help you out

  • We Will Reduce Your Debt

    Avoid the headache of a high overhead

  • We Will Get Rid of Your Stress

    Get your life back so you can relax

  • This field is for validation purposes and should be left unchanged.

Toronto’s Debt
Consolidation Experts

If you are unable to pay back your debt and it’s causing tremendous burden to yourself and your family we can help you work out suitable debt solutions that fit your particular needs. We will help you create a savings plan that works perfectly for your situation and eliminate the debt and stress that comes with it. We are Canada’s debt relief experts helping clients who face all kinds of financial situations.

York Credit provides a wide range of services to those who have trouble managing their finances and handling their debt. We can assist you with budget planning by coming up with a number of debt management plans that suit your needs. Our credit counsellors will negotiate with your creditors to allow you to make monthly payments that do not put a huge strain on you.

When do you need our consolidation services?

You may be experiencing financial hardships due to loss of employment, death, divorce, an injury or any other reason. At York Credit, we’ve worked with clients facing all kinds of financial hardships. You can also hire our experts to help if a creditor has threatened to file a lawsuit against you. No need to be harassed by a creditor who is trying to recover a debt.

We will help you figure out:

How much debt you have

Whether you qualify for settlement

How much you are able to raise to eliminate part of the debt

A settlement plan that is suitable for your lifestyle and needs

The downsides of debt settlement and how to overcome them

All your debt relief options

Helping to Solve Your Debt Problems

We will help you to go through your credit card statements and check the outstanding balances to know how much you owe. We will discuss every aspect of the settlement process and ensure the terms you get from the creditors are very favorable. All your monthly expenses and income will be reviewed by our credit counselor. We will then work out a payment plan that you can afford and recommend other solutions that will easy your financial burden.

We only consider settlements that are fair for our clients and based on their current financial state. York Credit doesn’t make false promises. We always keep our word. Our goal is to ensure you save as much as you can by reducing or eliminating interests and fees. We even recommend a suitable legal professional if need be.

family-friends-icon
Debt Consolidation by Borrowing from Family or Friends

Borrowing from friends and relatives has obvious advantages, but there is a downside in that it could ruin your relationship. To avert this, treat the lender the same way you would treat a bank or an independent lender – come up with a formal agreement and do your best to honour your obligations. read more

loan
Debt Consolidation using a Debt Consolidation Loan

Debt consolidation allows you to consolidate all your debts into one, offering convenience and lower interest rates. Banks and other lenders offer debt consolidation loans, but you will need to fulfill different conditions such as having collateral, having a co-signer, and having enough monthly income to support the loan repayments. read more

management
Debt Consolidation with a Debt Management Program

If you are being stressed by creditors or you are really struggling to pay off your debts, talk to your non-profit credit counselling company about a Debt Management Program (DMP). DMP gives you near 0% interest rates, gives you a clean credit score slate 2 years after the program, and gives you peace of mind. read more

credit card
Debt Consolidation using your Credit Cards

Credit card companies usually charge very high interest rates. You can beat lenders at their own game by consolidating your debt through 0% balance transfer. Lenders usually give 12 to 40 months low promotional interest rates where you can consolidate your credit card debt and get one at between 0% and 2.99%. read more

debt settlement
Debt Consolidation by doing a Debt Settlement

Debt settlement allows you to pay creditors a fraction of the money you owe them in one lump sum. The negotiation is done by debt settlement companies on your behalf. However, you should note that for-profit debt settlement companies usually charge hefty fees and you should, therefore, stick to non-profit organizations. read more

line of credit
Debt Consolidation using a Line of Credit or Overdraft

You can consolidate your debt by getting a line of credit or an overdraft and using the money to pay off smaller loans. This allows you to draw from your account below zero, up to a set limit. These banking services are available for those who have security and those who don’t. read more

filing
Filing a Consumer Proposal for Debt Consolidation

If you are struggling to repay your debt and you don’t want to file for bankruptcy, a Consumer Proposal by a Bankruptcy Trustee is your last option. The proposal helps you avoid the devastating effects of a bankruptcy. You will end up paying less than you owe your creditors. However, note your credit rating will take a hit. read more

filing
Debt Consolidation using Home Equity Loan

You can take a second mortgage from your mortgage lender for cheap cash for debt consolidation. The loan will be limited to the amount of equity (hence the name home equity loan) you have on your home after factoring the mortgage (value of your home – less your first mortgage). read more

Additional Articles About Debt Consolidation