Debt Consolidation Mississauga | Debt Consolidation Services

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Do you need a Consolidated Loan?

To know if you require a consolidated loan, you need to analyze your finances. More importantly, you need to be able to identify the signs of financial trouble to effectively manage your debt and prevent more serious problems from occurring down the road. Here are some signs to watch out for.

Only capable of meeting the minimum payment requirement
Paying off one credit card with another, or using your line of credit to pay it
Frequent late payments, or skipping payments to pay off other bills
Financing your debts with your credit card
Utilizing your overdraft and going over your limits on your credit card or line of credit
Broke on payday
Asking a family member or friend for a personal loan
Annoying calls from creditors and collection agencies
Having other essential service cutoffs for non-payment (telephone, electricity, etc.)

The above is a collection of warning signs that you are stressing yourself financially. We can help you with debt relief with offers which have equity take out up to 95% to consolidate debts.

Debt Relief Options

There are a number of different debt relief options out there, so finding the right solution can be challenging. You need to know about each option available to you in order to make an informed decision. Since there are so many Debt Control Self-Help Methods, you need to develop a debt payment plan before you seek professional help from an expert. Use financial tools and debt calculators to form a good understanding of your current finances.

Small Business Debts

Business owners and management teams face many challenges and there could be periods when the business finances aren’t particularly stable, causing debts to accumulate. To avoid insolvency, the business debts will need to be restructured. Work with our commercial mortgage agents by booking a consultation, if your business is facing any of the following financial issues:

A sudden increase in inventory
A quick rise in debt to equity
Out-dated accounting records
Collection notices from creditors seeking remedies
Denial of loan request or a reduced line of credit
Notice from your bank that your account has been moved to a “special loans” division

AKAL Mortgages Inc. professionals work with you closely to form a good understanding of both the financial and operational needs of your business. We can help you to avoid insolvency or bankruptcy, by matching our solutions with your business’s financial needs.

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Break your existing mortgage contract early
You can consider breaking your mortgage early if you want to obtain a lower interest rate or access equity from your home. In this case, you can do away with your existing mortgage and take on a brand new one with any lender. AKAL Mortgages Inc. can get you offers with up to 95% LTV.
Add a home equity line of credit
A home equity line of credit gives you access to the equity in your home at your own discretion. You are responsible for interest-only payments each month on the outstanding balance. You can access a home equity line of credit through your existing lender and a small subset of other lenders.
Blend and extend your existing mortgage
Your current mortgage granter might offer you a ‘blended rate’; essentially, a ‘blend’ of your current mortgage rate plus any additional money you borrow at current market rates. Blended rates are almost always higher than the most competitive mortgage rates on the market, so make sure you compare the blended rate against the savings if you break your mortgage.