Take Control of Your Debt

We all start out with the best of intentions. We learn, we work, we grow and along the way we buy things, invest in ourselves or our families, and sometimes it all comes with debt. Then life changes through growing families, career changes, illness, or even our own recklessness that results in further debt.

An Alternative to Bankruptcy

Exelby & Partners Ltd. has provided sound debt relief advice to clients facing bankruptcy for years, noting that it is important that you explore all of the alternatives when faced with this financial crisis. One alternative to filing for bankruptcy is the consolidation of loans.

Debt consolidation and bankruptcy are major financial decisions. Debt consolidation involves combining several unsecured debts like credit cards, student loans, property loans, or a combination of the above, into a new loan that is more favourable in terms of having fewer payments to track, along with a lower interest rate and payments over the life of your loan.

Manage Your Debt Effectively

According to the Office of Consumer Affairs (OCA) “In order to qualify for a consolidation loan, a consumer usually needs to have an acceptable credit rating and sufficient income to demonstrate that they will be able to manage the loan (that is to say, to demonstrate they will be able to make the monthly consolidation payment, in addition to paying for their regular monthly bills and expenses).”

Investopedia (Investopedia.ca) suggests that consumers should also consider when consolidating debt that “Your monthly payment and interest rate might be lower, but you might pay more interest in the long run if you take longer to pay back what you owe.” Likewise, you need to change your habits and stop spending beyond your means. Using home equity or a line of credit, while offering lower interest rates and deductible interest for taxpayers, creates a risk of losing your home if things don’t improve.

Consolidate Your Debt

This is where Exelby and Partners Ltd. can help. Our professionals are licensed to help in providing sound financial advice and exploring alternatives in debt relief, like negotiating more favourable terms with creditors or consolidating your loans into one lump sum to help ease your burden of debt, and often times greatly discounting the original amount that you owe.


We care about your financial state, and we will do whatever we can to get you back to financial security, while minimizing your stress levels during a difficult time.