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The most common form of debt consolidation loan is a credit card debt consolidation loan. These types of loans are generally acquired through a bank or finance company.
For example, here is what happens if you miss payments on your credit cards.
One payment missed: If you have a good borrowing history, your creditors may simply send you a polite reminder letter.
Two payments missed: You will get a strongly worded letter and possibly a phone call demanding payment.
Three payments missed: Each creditor will enlist a Collection Agency to press you for payment. Collection agencies will make your life unpleasant, using a variety of tactics to get the money, including threats.
If you still don't pay, court action can be used against you.
Our qualified Alberta trustess are familiar with all aspects of
Canadian bankruptcy law. We currently have offices in
Calgary, Wetaskiwin, and Edmonton, Alberta, Canada.
Call now for a free consultation: 310-8888
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