Whether You Need $10,000 or $50,000 – Alpine Credits is the Best Alternative for Debt Consolidation Loans
Debt Consolidation Loans
Do you have credit card bills and other debts with growing balances? Are you struggling to get ahead financially as a result?
Alpine Credits can help! We offer the best debt consolidation services for Canadian homeowners. Our application process is incredibly straightforward and unrestrictive – a far cry from what you’d typically experience working with one of Canada’s Big Five Banks.
In other words, we live up to our reputation – earned through over 50 years of exemplary service – as the place where homeowners get approved.
How Our Debt Consolidation Loans Work
With a debt consolidation loan from Alpine Credits, you can immediately pay off multiple debts. You’d then be left with one easy monthly payment, reducing your likelihood of falling behind or defaulting.
Click here to learn more about how home equity loans (which are the vehicles we use to consolidate your debt) work.
Depending on your existing debt’s interest rate, our consolidation services may also reduce the overall amount you owe each month. Keep reading to learn more about these and other benefits.
Easy Application – 3 Simple Steps – 24 Hr Approval
Key Benefits of Our Debt Consolidation Loans in Canada
Eliminate Debt Faster
Our home equity loans come with very competitive interest rates. So if you’re looking to consolidate debt from high-interest loans like credit cards, doing so with Alpine Credits will likely result in lower monthly payments.
By extension, you’ll be able to eliminate debt much faster while still having the funds to enjoy life.
Straightforward Application Process
Applying for a debt consolidation loan at one of Canada’s Big Five Banks can be quite stressful. You’ll generally need to provide proof of:
- Solid credit
- Steady employment
- A debt service ratio below 30%
Unfortunately, these criteria – which traditional banks enforce quite strictly – leave out many Canadians who might benefit tremendously from debt consolidation.
That’s where we come in. If you own your home, we can arrange a debt consolidation loan. It’s that simple. We see no need for red tape.
As the leading provider of online debt consolidation loans in Canada, Alpine Credits is also one of the few lenders offering decisions within as little as 24 hours. Upon approval, funds can be transferred directly into your bank account.
Easy to Manage
Many Canadians struggle with credit cards and other revolving loans in large part because they make it possible to take on new debt even as you make payments.
Here’s an example.
Let’s say you’ve maxed out your credit card with a $10,000 limit, incurring a minimum monthly payment of $200.
There’s nothing stopping you from making that monthly payment then promptly using your regained available credit to spend another $200. Keep this up long enough and you’ll end up spinning your wheels.
This is why credit card balance transfers often fail as a means of debt consolidation.
Our loans, however, are structured to help you get – and stay – out of debt. You can borrow the exact amount needed to consolidate and eliminate your loans. Handled correctly, your payments will then go towards actually digging you out of debt rather than giving you an opportunity to sink further.
Another limitation when consolidating debt through big banks is that they’ll only let you combine certain types of loans. That typically includes:
- Credit cards
- Unsecured personal lines of credit
- Overdue utility bills
- Certain types of student debt
If you’d like to consolidate any type of debt beyond those, you’re out of luck – at least as far as Canada’s major banks are concerned.
With Alpine Credits, you can consolidate any loan you’d like. If the interest rate we provide is lower than the one on your car loan, for example, we won’t stop you from consolidating that debt with us!
That’s the Alpine Credits advantage. Not only do homeowners get approved. They get approved and afforded much greater flexibility.
Get Your Debt Out of Collections
Consolidating debt with Alpine Credits gets bill collectors off your back! You’ll no longer have to dodge phone calls and letters from multiple institutions demanding payment. Just make one simple monthly payment and you’re good to go!
Signs You Need a Debt Consolidation Loan
Not sure whether debt consolidation is right for you? Here are some classic signs we’ve observed in clients that come to us and ultimately benefit the most from our services.
You Can’t Keep Up with Monthly Payments
Do you constantly worry about missing payments because you just have too many loans to worry about? This is the most notable issue we notice among clients when they contact us for debt consolidation services.
A debt consolidation loan will streamline your finances considerably, leaving you with just a single monthly payment in place of several.
You Have a High Balance on One or More Credit Cards
Credit scoring agencies evaluate not just your overall debt utilization ratio but also your use of individual cards.
In other words, carrying a high balance on any one card can negatively impact your credit score – even if all your other balances are very low.
After eliminating that card’s balance with a debt consolidation loan from Alpine Credits, you’ll likely see your credit score increase.
More importantly, you’ll enjoy the freedom and flexibility that come with a financial situation rating agencies deem creditworthy.
You’ve Been Making Loan Payments with Other Loans
If you’re constantly scrambling to repay loans with other loans every month, you’ll likely see tremendous benefits from consolidating your debt.
A lower interest rate and single monthly payment should help you manage debt more effectively, eliminating the need to play hot potato with your loans.
Your Lenders Are Unwilling to Adjust Payment Due Dates
Often, lenders can be frustratingly uncooperative when it comes to adjusting due dates in a way that would help you keep better track of your finances.
Your best bet is often to consolidate the debt yourself, resulting in a single monthly payment without any need to wrestle with your providers.
Your Credit Score Has Improved Since You Took On the Initial Debt
If the debt you’re looking to consolidate originates from a time when your credit score was lower, it’s likely the associated interest rates are exorbitant. A new loan to consolidate your debt would help you achieve an interest rate more in line with your current situation.
Note: At Alpine Credits, your score is far from our primary concern. As long as you have equity in your home, we can typically arrange a debt consolidation loan at a much lower interest rate than you’d qualify for with poor credit at a traditional institution (if they lent to you at all).
You’re Ready for a Brighter Financial Future
If you’re ready to get your debt under control, a consolidation loan from Alpine Credits can help. We’ve worked with thousands of Canadians over the past 50 years and are ready to find the right solution for your situation and goals.
Contact Alpine Credits to Learn About the Best Debt Consolidation Loans in Canada
We look forward to helping you pave the way for a debt-free future! Contact us today to begin your application and receive a decision within 24 hours.
Whether you’re looking to consolidate $10,000 or $50,000, our staff is ready to help.
Frequently Asked Questions About Debt Consolidation Loans in Canada
Do consolidation loans hurt your credit?
Used correctly, a consolidation loan will improve your credit score in the long run by reducing your debt burden. However, it may cause a temporary dip in your credit score if you immediately close the accounts you’ve consolidated.
One reason for this is that dispatching loans can reduce the length of your credit history. In other words, you’ll leave lenders with fewer data points to use when analyzing your credit report. This increased uncertainty causes a dip in your credit score.
It’s worth noting that this dip is temporary. Your credit score should bounce back within a few months, particularly as the positive effects of debt consolidation take hold.
Your Alpine Credits advisor can help you determine whether this temporary dip would cause issues (i.e. if you’re currently in the process of securing a mortgage).
Is it smart to consolidate debt?
Consolidating debt can be an incredibly wise move if it helps you manage your finances more effectively. Clients we work with consistently describe their experience as being overwhelmingly positive since it helps them get rid of debt and sleep better at night in the process.
Is it cheaper to consolidate debt?
Often, you can secure a much lower interest rate by consolidating debt. In such a scenario, it’d be substantially cheaper to consolidate debt than keep it spread out across multiple high-interest loans.
Shaving even a couple of percentage points from your debt can save you thousands of dollars in the long run.
Is it better to get a personal loan or debt consolidation?
Using a loan specifically designed to help you consolidate debt is often the smarter play.
The problem with personal loans is that they’re typically unsecured, which comes with higher interest rates. Personal loans (like credit cards and lines of credit) can also be difficult to manage, especially if you’ve already found yourself incapable of handling similar debt burdens in the past.
For these reasons, you’d be wise to consider consolidating your debt rather than simply taking on another unsecured personal loan.
What kind of credit score do you need for a consolidation loan?
Traditional financial institutions typically require credit scores of 650 or higher for consolidation loans. At Alpine Credits, however, we’re not particularly concerned with your credit score.
Our primary objective is to determine how much equity is available in your home for you to borrow.
How do I get out of debt with no money and bad credit?
If you own your home, consider tapping into its equity for the purpose of consolidating debt. Even with bad credit, you can typically secure a home equity loan from us at Alpine Credits. That’s because our primary concern is not your credit score but, rather, how much equity in your home is available for borrowing.
What are the negatives of debt consolidation?
At Alpine Credits, we’ve structured our consolidation loans in a way that minimizes the negatives.
Downsides of consolidation generally include:
- A potentially higher interest rate if you’re consolidating debt with a credit card or unsecured personal line of credit
- The ability to mismanage your consolidation loan if it’s of the revolving variety
Our debt consolidation services consist of secured installment loans. This mitigates both aforementioned risks.
*Disclosure on “Loan Examples” Above
Alpine Credits’ intent is to always have full disclosure on all of our loan offerings. Borrowers are provided with all necessary disclosure prior to entering into any obligation. Our objective is to offer Canadian home owners an alternative to the banks and credit unions (not a replacement). Typically, you will find our rates to be higher than the banks; however, with this in mind, we are usually more efficient than the banks in getting you your money and may lend in situations where the banks (and other traditional lenders) will not. Once we have provided you with all necessary information, the decision will be left with you as to whether or not you wish to proceed with our offer. Thank you for your consideration. We look forward to speaking with you soon.
All of the above examples are for discussion purposes only. It is important the reader is aware that the examples may represent the lower priced range of our product offerings. Rates on our loans are subject to change and may vary (up or down) based on the equity you have in real estate, the state / condition / location of your real estate, your personal financial situation and the Canadian mortgage market. The examples are all based on interest only monthly payments (you may elect to pick a shorter amortization to pay off your loan sooner) in which the rate in year 2 increases to the prime rate plus 3.75% and the prime rate plus 6.00% for the first and second mortgages respectively. The Cash Advance in all of the loans above represents the net amount of money to be received. The “Gross Amount” for the $100,000 / $300,000 / $25,000 / $50,000 loans in the examples above are $110,500 / $327,900 / $29,500 / $58,140 respectively. The difference between the Gross Amount and Net amount represents closing costs which includes items such as legal fees, appraisals, brokerage fees, etc. (“Fees”). The APR will increase / decrease in the event of higher / lower Fees. Once again, thank you for your consideration.