Everyone trying to pay their way out of debt has the same options to choose from:
- Deal with creditors directly
- A consolidation loan
- A debt management plan
- A consumer proposal
When trying to decide which option is best for you, you need to ensure that the repayment plan is both affordable and effective.
Debt Repayment Calculator
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| To review your payment options, enter your total amount of unsecured debt* owing up to $999,999.00. | |
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*unsecured debt refers to any debt that is not attached to specific assets such as a mortgage or car loan. |
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Direct Payment
Consolidation Loan
Debt Management Plan
Consumer Proposal
| By filing a Consumer Proposal , you could save over in interest and payments. Book a free consultation now! | |||
| Calculation | Monthly Payment | Total Payment | |
|---|---|---|---|
| Direct Payment | Assumes unsecured debts are paid in full over 60 months at an average credit card interest rate of 19% | ||
| Consolidation Loan | Assumes unsecured debts are paid in full over 60 months using a consolidation loan with an interest rate of 8% | ||
| Debt Management Plan | Assumes unsecured debts are paid in full over 60 months without interest, including the credit counselors 10% administration fee | ||
| Consumer Proposal | Assumes unsecured debts are settled for 35% and the proposal is completed over 60 months without interest | ||
| The information provided is for illustrative purposes only. Actual amounts may vary. For actual amounts, please book a free consultation. | |||
