Debt Consolidation & Management Services
Groupe Serpone offers debt consolidation management solutions. During your free consultation, we will assess your debts and develop a payment schedule and budget. From this point, our consolidation counsellors will offer various solutions to resolve your debt once and for all. Depending on the situation, the counsellor may suggest debt consolidation. In this procedure, the debtor will be advised to try and consolidate debts with a larger loan at lower interest.
What is a debt management plan?
A debt management plan is a strategic plan or program offered by a credit counselling agency or an insolvency trustee. The aim of the plan is to repay your debts in full, over a period of up to 5 years. Groupe Serpone will consolidate all your debts together so that you can make only one monthly payment moving forward. We then divide your payments among your creditors, giving the biggest shares to your larger creditors.
Is a debt management plan right for me?
A debt management plan is designed for people who can afford to repay all their debts in full, but do not qualify for a debt consolidation loan. These types of clients are the perfect candidates for a fixed payment plan.
In some situations, the debtor may be advised to file for voluntary deposit. This is a provision under the Civil Code of Quebec. It allows the debtor to pay the entire amount of their debts at a lower interest rate.
Advantages of a debt management schedule
- Stop collection calls.
- One single payment every month
- Reduced interest charges (sometimes to zero)
Debt Consolidation Tips
Here are a few personal debt management solutions to help reduce or eliminate your debt and get out of financial difficulties:
- Make a new budget
- Renegotiate your debts
- Sell your valuables
- Debt Consolidation
- File a consumer proposal
- File for personal bankruptcy
To learn more and get your first, free consultation, contact us today!