
Tip #1
Start with a list of your debts and set some repayment goals. Ask yourself how quickly you would like to eliminate your debt. Debt consolidation on its own doesn’t eliminate debt, it just transfers your balances to a new, hopefully lower interest rate, loan. This helps you pay off debt sooner.
– Scott Schaefer, Kitchener & Stratford Offices
Tip #2
Begin by taking advantage of any low-interest rate balance transfer programs offered by your credit card company. Know that there may be a limit on how many months the low interest rate will apply. Watch out for balance transfer