Debt consolidation consolidates several debts into a single loan, offering simplified and potentially reduced monthly payments.
Personal bankruptcy is a legal procedure for repaying debts by selling the debtor's assets. Assets are transferred to the liquidator to pay creditors. If debts exceed assets, part of the debt is repaid. An insolvency trustee can help you consider other options. The Superintendent's Office regulates trustees in Quebec. Personal bankruptcy is a last resort if you cannot pay a consumer proposal.
.svg){kind=icon}
.svg){kind=icon}
A debt management plan would offer them the advantage of consolidating all their credit card debts into a single monthly payment, with a reduced interest rate, making it easier to manage their budget and reduce their financial stress.
.svg){kind=icon}
.svg){kind=icon}
A fixed payment plan would allow them to combine all their personal loans into one, with a potentially lower interest rate, reducing their overall monthly payments and simplifying debt management.
.svg){kind=icon}
.svg){kind=icon}
A debt management plan would allow them to consolidate all their debts into a single monthly payment, making it easier to manage their finances and avoid missed payments or late payments.
No matter what stage you're at with your finances, you've come to the right place with us. We'll help you get your financial house in order, and back on track to a bright future.
Groupe Serpone analyzes the financial picture for effective debt consolidation.
.svg)
.jpg)
The consolidation plan allows you to combine your debts, obtain favorable terms and a single payment.
.jpg)
Throughout the process, we ensure that payments, communications and resolutions run smoothly to repay the debt as planned.
.jpg)
Debt consolidation can group together different types of unsecured debts, such as credit cards, personal loans, medical bills, student debts and so on. However, secured debts, such as mortgages or car loans, are generally not included in a debt consolidation.
Every financial situation is unique, so it's important to consult a qualified professional, such as a trustee in bankruptcy, to assess your options. Groupe Serpone can help you analyze your situation and determine whether debt consolidation is the right solution for you. We'll take into account your debts, income, expenses and other factors to guide you toward the best decision.
Debt consolidation can have an impact on your credit rating, but it can vary from one situation to another. When you consolidate your debts, it may result in the closing of some credit accounts, which can temporarily affect your credit rating. However, if you make your debt consolidation payments punctually and responsibly, this can help improve your credit rating in the long term.
If debt consolidation is not the right solution for you, Groupe Serpone can explore other options, such as a consumer proposal or personal bankruptcy. These options can be adapted to more complex financial situations. Our experts will guide you through the process and help you choose the best course of action for your specific situation.
Yes, it is possible to consolidate your debts even if you have bad credit. Groupe Serpone understands that financial difficulties can affect your credit rating. We work with lenders specializing in debt consolidation loans to help customers with less favorable credit histories. However, it is important to note that conditions and interest rates may vary depending on your financial situation.
The repayment period for a consolidated debt depends on several factors, including the total amount of your debt, the amount of your monthly payment and the interest rate negotiated. In general, debt consolidation allows you to spread your repayments over a longer period, which can reduce the amount of your monthly payment. However, it's important to note that the longer the repayment period, the more interest you may pay over time. Our bankruptcy trustee experts will assess your situation and help you determine a repayment term that is realistic and adapted to your financial situation.
I would like to express my sincere gratitude. Your professionalism and the humanity with which you handled my situation softened my experience of this not very gratifying experience. I was very satisfied with the services of the lawyer you recommended, and I would highly recommend him to anyone facing this type of situation. You will be the trustee in bankruptcy that I will recommend in all appropriate circumstances.
