Quote:
Originally Posted by ken0042
A credit councillor will put you on a VERY tight budget for the length of time it will take to pay off you debt. Seems like quite the hassle over $1000.
If your parents are looking at forclosure for the sake of $1000, maybe an option like Trans Canada Credit would be better? Yes, 30% interest is steep. But a 1 year term will cost you $170 in interest and your payment will be just under $100 per month. The $170 in interest is a small price to pay vs. selling the house. If you do go with them, make sure you decline all the other fluff they will try to sell you. And if they do cut you a cheque for how much that fluff was, put it right onto the loan that very day; don't be tempted to spend it. They make their money on knowing what buttons to push with people with less than perfect credit/ cash flow.
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Trans Canada Credit?? I've never heard of them before? We would be willing to fork up the interest rate because of a better situation 1 month from now. Can you give me more information on them?