Every Canadian needs to be aware of the following information:
Do you feel overwhelmed by your current debt load? Are you paying large compound interest rates, which never seem to get you any closer to paying off your debt? This new revolutionary debt consolidation system will solve your debt problems quickly.
1. Does debt consolidation affect my credit in a negative way?
No. Debt consolidation does not affect your credit in a negative way. Debt consolidation is often confused with consumer proposals. Consumer proposals affect your credit in a negative way while debt consolidation does not.
2. What will my interest rate be?
We guarantee that when using a private lender, the interest rates you are paying your present creditor will be reduced.
A common misconception within the marketplace is that private lenders charge higher interest rates than the banks do. Considering credit card interest rates range between 17% to 34% compounded interest and payday loans are even higher, a private lender can easily beat these rates due to the fact that private lenders charge simple interest, not compound interest.
On the home page of our web site, there is a segment of a video you can watch that shows, in an entertaining way, how expensive compound interest is, compared to simple interest.
In general, when dealing with a bank, they will quote you a rate with a “take it or leave it” attitude, allowing little to no room for you to negotiate. A private lender will inquire about your file, once it is on our system. With the help of your representative, we will negotiate the terms and conditions and interest rate of your loan(s) with the private lender. This will guarantee to receive a better rate than you are paying your present creditor(s).
3. Are there any upfront fees?
No. There are no upfront fees, or application fees.
4. If there are no upfront fees, how do you make your money?
We do not make any money until we provide you a 25% discount off of what you owe your creditors. Our fee is the percentage of the negotiated discount over and above the 25% discount promised to you. Therefore, if we manage to obtain a 40% discount, we would make 15% while you retain, and save, the other 25%.
The private lender is the one who pays our fee, which creates a win win situation. Therefore, this is a free service to you.
Keep in mind that if your debt is over $20,000.00, you can negotiate a larger discount than 25%.
The rule of thumb is that the larger the amount owed to your creditors, the stronger your negotiation position is to get a larger discount from your new private lender.