View Single Post
Old 12-19-2017, 08:18 PM
TJK finance pro TJK finance pro is offline
Junior Member
Join Date: Dec 2017
Location: British Columbia
Posts: 11
Default Re: Debt Consolidation loan preferable?

Depending on your level of debt and who you are in debt you may not need to negotiate for a loan. Also you would have to have substantial equity as collateral for the loan. Most people prefer not to borrow against their home or car. You don't have to and shouldn't be pressured by slick financial lending businesses to do so.

I work with several clients in reorganizing their debt. It wasn't necessary to negotiate a loan, or file for a consumer proposal/bankruptcy. I have fixed serious problems that a debt counselor caused to clients finances. They had ended up deeper in debt due to the debt counselor's meddling in something not qualified. That is something else to be wary of. Debt counselors don't have any finance and accounting education. Anyone can call themselves a debt counselor.

Last edited by TJK finance pro; 12-19-2017 at 08:28 PM.
Reply With Quote