Consolidating payments

There are a few different types of loans you can use to consolidate your debt.A home equity loan is a loan that's taken out using the equity in your home as collateral.This is particularly beneficial when you have high interest rates debts.Combining your debts this way allows you to lower your monthly payment and makes it easier for you to afford your monthly bills.

So, simply put, anyone can use a debt management plan for consolidating bills.This calculator is intended for consolidation loans only, and not mortgage refinancing.The calculation is based on the accuracy and completeness of the data you have provided; is for illustrative and general information purposes only; and is not intended to provide specific financial or other advice and should not be relied upon in that regard.The longer you delay finding consumer debt solutions to your problem, the worse your situation becomes.If you don't take effective action, interest rates will rise, late fees will pile up, and your credit rating will drop.To speak with an RBC credit specialist, call 1-855-834-1782.

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