Q: Should I take out a home equity loan to pay my debts?
A: Don’t do it! You will turn an unsecured debt to a secured one. Worst of all, you will use your home to pay them off. That is if you don’t mind being homeless in the event you are not able to keep up you multiple home loans. This is not my favorite choice for debt reduction. It is unfortunate that some companies use this tactic to lure desperate clients in need of debt help into another trap.
This is a program being pushed on Filipinos in Canada right now. Enter a debt program with low monthly payments and if you own a home, they wait out until you are sued by the creditor leaving you with no option but to take out money from your home.
Here’s the catch! Since you are now bad credit, they have connected themselves with home equity providers who will give out high interest home equity loans. This will set you back big time! Since your house payment has just doubled, you have entered into a world of trouble where there is not coming back from. Imagine in the beginning, you cannot pay your credit card debts. Now you cannot pay your home! I wonder which is worst. Being bad credit or being homeless?
I really must tell our kapwa Filipinos, we need to be wise. Sometimes it is our kapwa Filipinos who are setting this trap for our countrymen. Please stop preying on helpless Filipinos. You are only hurting our image against each other.
On another note, some of these companies are not even registered Canadian Corporations. They operating illegally in another country and think they can get away with it. When they get caught, there will always be innocent victims who will be left out in the cold.
Debt Aid Consulting is a registered Canadian Corporation.
Ating lesson, Magingat sa manloloko, dahil minsan kaibaigan ang anyo.
If you need help in getting out of debt, call Debt Aid Consulting. We help with Credit Repair while and after your program. We do not use call centers which keeps your information safe. We have a new program that reconstruct debts for half of what you would pay our competitors. We also provide legal assistance that keeps collectors away. We take Federal Credit Unions, Payday loans and high interest personal loans in our program too. This is exclusively available for Debt Aid Consulting clients. None of our competitors provide this program. You are well protected.
We only provide Federal Trade Commission compliant programs. Debt relief companies who charge non refundable upfront fees are in violation of the ban. Go with Debt Aid Consulting!
Do not fall for marketing gimmicks saying that they have the right program for you. Most marketing companies only have one program and will enroll you in that program whether it fits you or not. So beware!
Ben Lou at your service! I have over 30 years of real financial experience. If you would like sound financial advice, call us at Debt Aid Consulting. We do not use call centers like Financial Rescue. No one has the right to put your information at risk. Say no to LLC corporations in Canada! Debt Aid Consulting is the first and only Filipino debt restructuring company incorporated in the US and Canada.
Now serving the Caribbean Islands!
Tawag na po sa 1-888-341-5234 at tutulungan po namin kayo.
Itama po natin ang mali!