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Your Bridge to a More Secure Future


When times are good, the wealthy can get as much credit as they want, while the rest of us have to plead for an advance to get us through a bad patch. Once we have a deep dent on our credit record the hurdles get higher. It is therefore important to bail out before the crunch comes. Fortunately, there are warning signs that tell you to start protecting your credit.


Protecting Your Credit: What are the Warning Signs?

# A High Debt Ratio tells lenders we are spending too much of our income to pay off our debt. Let’s say you earn $4,000 a month, but spend $2,400 on payments. You have a 60% debt ratio and it is time to cut back on new borrowing.

# We Only Have a Vague Idea of our financial position. Perhaps you have given up protecting your credit because more borrowing seems to be the only way to put food on the table. While this may be a stopgap, you really do need to understand your finances better.

# We Borrow Money from Friends because we are avoiding our creditors. We are concerned they will call in their loans and make our credit record worse. If you find yourself in this situation, then you may need to sell an asset to get out of financial difficulty.


The Big Decision: Selling the House to Pay Off Debt

Interest rates on mortgages are relatively cheap money compared to clothes accounts, and cards. However, second-hand appliances and furniture do not sell for much at auctions, and it is impossible to live without the car. That just leaves the house. The equity left over after we settle the mortgage may be enough pay all the other debt. But where do we live? Who do we turn to?


Turn to Stonegate Equity Ltd. For Assistance

We can help you with protecting your credit in several ways. In the first instance, we can buy your house for cash in a few days, and at a very fair price.You may have enough equity to settle your accounts and cards. This leaves the remaining problem of getting back onto the property ladder before prices rise steeply again.

We can help you rent-to-purchase a home you can afford at a set price in the future. We allocate a small portion of your rent to the purchase price of the property. After you have accumulated the deposit, you are no longer the tenant. You are soon the owner, because you went about protecting your credit wisely. Please call (587) 500-0417 in Calgary for further advice on this most important decision.

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