GET RELIEF FROM
CREDIT CARD DEBT
Credit card debt is very common, and it's easy to only make minimum payments
But how will you pay it off?
Credit card debt is tough to repay
Credit card debt is easy to build, but paying it off can be difficult. Many credit cards have interest rates over 20%, which can quickly increase the balance.
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Only making minimum payments will never pay it off.
Consolidating credit card debt
Consolidating credit card debts into a loan can lower your monthly payments by lowering the interest. However, the debt still hasn't been reduced and still charged interest every month.
How can I pay off my credit card debt?
Paying more than the minimum monthly payment may not be enough. With a consumer proposal it can stop all interest and could reduce your credit card debts balance by paying one monthly payment.
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You may be successful in consolidating your credit card debt to reduce the interest rate. If you don't qualify or are unsuccessful, filing a consumer proposal is a good option to reduce and pay off debts with no interest.
