According to CBC, the typical Canadian owed $21,348 in consumer debt at the start of 2016. There have been other headlines: Debt is keeping millennials up at night. Rising student debt causing mental health issues. No matter the headline, they all read the same: financial stress is the silent killer. A lot of these articles are good at pointing out that young Canadians owe a lot of money but they don’t really provide solutions. Fortunately, you can improve your financial situation with debt consolidation.
What is Debt Consolidation?
Debt consolidation is the process of combining some or all of your current debts into one lower-interest loan. This allows you to pay down your debt faster, at a lower monthly payment.
Let’s say you owe money on your credit card, student loan or vehicle; or even be a holiday trip you haven’t fully paid off. Are you paying more interest than you’d like to admit? The path to stress-free financials is just around the corner, at Integris.
Consider consolidating – it could make a huge difference on your financial future. Imagine:
- One monthly payment for all your debt
- Lower interest rates than typical credit cards
- A timeline that guarantees it will be paid off within the foreseeable future
- Stress free finances so you can save for the future.
Unsure of you financial situation? Come and speak with one of our Financial Services Officers – our mission is to enhance your financial well-being. We can help with financial advice on how to pay down debt and also save for the things you want. Our loan appointments are easy to book, decisions are made locally the same day, interest rates are competitive and we’ve heard our service is great.
P.s. We also have Facebook messenger – feel free to ask questions and book appointments via messenger.
|Written by Cori Ramsay, BA – Communications Officer|