If you require consolidation or debt restructuring our team of experts will help you work through the process and help you to figure out which solution would work for you and your business.
So what is consolidation? It involves taking out a new loan in order to pay off other loans and consumer debts. The result is that many debts are combined into a single, larger loan or debt. The benefit of this larger loan is typically more favourable payoff terms such as lower interest rates, lower monthly payments or both.
Debt restructuring typically involves taking a new loan to pay off a variety of creditors. The new terms of the debt restructuring deal should be advantageous to the individual. This can result in reducing the total amount of monthly payments, the total amount of principal and interest to be paid over time.