Eliminating

Bad Debt

.

 

Credit Card & Debt Consolidation

 

Refinancing

 

ELIMINATING BAD DEBT

At the Blackmore Levy Group, we’ll custom design your personalized blueprint for your Financial House. We’ll put a plan together to eliminate any Bad Debt you may have.  Bad Debt is consumer debt – money you borrow at a high-interest rate to buy things that don’t produce income or grow in value.  These are things like cars, appliances, clothes, shoes, bags, and vacations.  All of us have done it and all of us have paid the price.

Bad debt is a big problem for everyone involved, except for the Banks. They love it because they are in the debt creation business!!

Debt Strategies

Are you like too many Canadians who are burdened with debt, and are dealing with phone calls from creditors, threats of legal action and wage garnishments? We know this can be extremely overwhelming and we’re here to help. We’ve helped many families get through their embarrassing situations and come out smiling. Let us hold your hand and guide you every step of the way.

We have numerous methods to assist you in reducing and paying off your debt.  In cases where consolidating your debt is not feasible, we will custom design a plan and help you pay down your debts in the most efficient and easy way.

Don’t worry, we’ll guide you through all the options and we’ll help you rebuild your credit too.

  • Consolidation of Your Debt: We will help you become successful at paying off your bad debt, improve your cash flow and save you hundreds of thousands of dollars in interest. If you have high-interest credit cards and are making the minimum payments, you probably feel like you’re not making much progress, if any. We’ll consolidate all your debt into one simple monthly payment, making your payments more affordable and putting you on a path to being debt-free much faster and building your financial future at the same time.
  • Debt Settlement, Consumer Proposal or Bankruptcy: We’ll review all your debt and if the best option is to work with a Licensed Insolvency Trustee, lucky for you, we work very closely with some excellent Trustees. If filing bankruptcy is the best option for you, while this may seem embarrassing, sometimes it is the best way to get you on your feet and give you a chance for a fresh start.

Remember, bad credit doesn’t have to last forever. We’ll coach you on how to improve and re-establish your credit.

We will work with you through the whole process – you’re never left alone at the Blackmore Levy Group.

Case Study

Case Study

This couple is in their late 30’s and they have 2 young children.  He works as a medical sales rep, and she is a self-employed physiotherapist.  They’ve lived in this house for 7 years.

Home Location:  Burlington, On

Home Value:$490,000

Current Mortgage

Visa

Visa

Visa

MasterCard

Amex

Line of Credit

$ 356,000

$     6,900

$      5,450

$      5,650

$     14,214

$     10,015

$     40,738

$ 1651.00

$   130.00

$   114.00

$   120.00

$   320.00

$   200.00

$   400.00

Total Monthly Payment$ 2935.00

Using a private lender we secured a $26,000 second mortgage.

The interest-only payments are $314.16.  The proceeds from this second mortgage were used to settle the $80,000 of debt listed above!  Now that is a powerful difference to any client!

NEW Payment 1st and 2nd mortgage of $1965.16

That’s a total monthly saving of $969.84

 We then put a plan together so that they could rebuild their credit and this client will be ready to roll the second mortgage into a new first mortgage, at the best rates in about 18 months!

For those keeping score, this client was able to clean up all their debt challenges without going bankrupt or going through a formal proposal!  They get to keep the house and have easily manageable payments.

With the monthly savings they:

  1. Put a proper insurance plan in place to cover the new obligation.
  2. Start an emergency fund.
  3. Start a retirement savings plan

DEBT IS A HUGE PROBLEM & IT’S RUINING TOO MANY LIVES. LET US HELP YOU!

Call the Blackmore Levy Group at 1.888.520.6520 for a complimentary assessment. One of our Financial Architects will be able to custom design and build or rebuild your Financial House.

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