Consolidating student loans rbc bank
Another possibility is a debt consolidation program, such as a debt management plan or consumer proposal.
A debt consolidation loan is a personal loan that allows you to consolidate your credit card debt, line of credit, car loan, and similar debt, into a single loan.
With a loan, you know it will be paid off over a specific period of time with fixed payments.
In addition to the points introduced in the comparison chart above, there are other factors to consider when deciding between a bank and mortgage broker.
Mortgage brokers have access to lenders who specialize in servicing people with adverse credit, and can leverage relationships with mainstream banks.
Mortgage brokers can also access exclusive deals not available on the open market, or negotiate a better interest rate or lower application fees from the lender in some cases.
They can advise which lenders will consider your case and which will not based on your individual circumstances.
This is particularly useful for people with poor credit ratings.