Debt Consolidation Guide

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

Debt consolidation is the process by which you combine your unsecured debt into one

Your goal when shopping for a debt consolidation loan should be to find a loan with the lowest

interest rate you qualify for.

Using the proceeds from your consolidation loan, you will pay off your individual loans in full,

leaving you with just one monthly payment to your loan

holder.

Secured Loan:A consolidation loan secured by an asset

such as your home will help you get a better interest rate.

UnSecured Loan:

An unsecured loan usually offers a higher rate due to there not having any assets

attached.

What kind of consolidation loan should you get?

The benefits of a debt consolidation include saving

on interest charges, lower monthly payments, and

making just one payment to one lender.

To learn more about the pros and cons of debt consolidation, reach out to us here at Bromwich & Smith.

We will help you review all of your options to see which meets your needs most effectively.

For More Information & Other Financial Tips,

Visitwww.SolvingDebt.ca

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