Debt Consolidation

How to Know If You Require a Consolidated Loan?

To know if you require a consolidated loan, you need to have insights into your finances. Even more so, you need to be able to identify the signs of financial trouble to effectively manage your debt and prevent more serious problems from occurring down the road. Here are some signs to watch out for:

  • Only capable of meeting the minimum payment requirement
  • Paying off one credit card with another, or using your line of credit to pay it
  • Frequent late payments, or skipping payments to pay off other bills
  • Financing your debts with your credit card
  • Utilizing your overdraft and going over your limits on your credit card or line of credit
  • Broke on payday
  • Asking family or friend for a personal loan
  • Annoying calls from creditors and collection agencies
  • Having other essential services cut-off for non-payment (telephone, electricity, etc.)

 

These are all warning signs and with them comes financial stress. Our professional can assist you by assessing your situation and informing you about your debt relief options.

Debt Relief Options

There are a number of different debt relief options out there, so finding the right solution can be challenging. You need to know about each option available to you in order to make an informed decision. Since there are so many Debt Control Self-Help Methods, you need to learn about how to develop a debt payment plan before you seek professional help from an expert. Use financial tools and debt calculators to form a good understanding of your current finances.

Small Business Debts

Business owners and management teams face many challenges and there could be periods when the business finances aren’t particularly stable, causing debts to accumulate. To avoid insolvency, the business debts will need to be restructured. Work with our commercial mortgage agents by booking a consultation, if your business is facing any of the following financial issues:

  • Increased inventory suddenly
  • A quick rise in debt to equity
  • Accounting records that aren’t up-to-date
  • Collection notices from creditors seeking remedies
  • Denial for a loan request or a reduce line of credit
  • Notice from your bank that your account has been moved to a “special loans” division

 

Mortgage On Time professionals will work with you closely to form a good understanding of both the financial and operational needs of your business. We can help you to avoid insolvency or bankruptcy, by matching our solutions with your business’s financial needs.

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