Consolidating debt alberta
A debt consolidation loan is a single loan (generally from a financial institution) that allows you to repay your debts to several or all of your creditors at once.
You are then left with only one outstanding loan — to the financial institution.
This should not be relied upon as specific financial or other advice.
Actual results and loan or line of credit payment amounts and repayment schedules may vary. Applicants must meet CIBCs lending criteria; all personal lending products are subject to credit approval. Products and their interest rates may change at any time without notice.
Collection agencies can also contact your employer to verify your employment.Although this option may help you save on interest charges, you still have a combined debt, which represents the total of your old debts.If you are not careful, and you still have access to your accounts and credit cards, there is a chance that you will be tempted to use them, therefore go further into debt. You have the chance to maintain a good credit rating if you act quickly.You may find that debt consolidation loans are the best option to help you formulate a path to financial freedom.
This calculator will add a file, known as a local shared object or a Flash cookie, to your computer.In addition to streamlining your debts into a single payment, a debt consolidation loan may also offer you an interest rate that is lower than that charged by your creditors saving you money in interest charges.This option can be especially attractive if you have outstanding debts at a relatively high rate of interest (for example, those charged on some retail store cards or credit cards).You can remove all local shared objects created by CIBC Flash tools from your computer using instructions found here.