Canadians have been piling on record amounts of household debt in Canada for over a decade now. Part of the issue is the low interest rates that as plagued Canada since the US Financial meltdown in 2008. It’s no surprise how many Canadians are in debt given how accessible unsecured credit is. It’s not unheard of to hear stories of full time employees earning $35,000 to have credit card debt in the $20,000 – $40,000 range. Obtaining Credit is easy paying it back is often the harder part. Now with the Canadian economy in free fall many Canadians will soon feel the pinch as banks and creditors will slowly stop new loans. For Canadians that have been recently discharged from a bankruptcy or consumer proposal rebuilding your credit is a necessity. Without rebuilding your credit you will have a hard time obtaining a car loan,mortgage,credit cards. Questions is what should a Canadian do if he/she has bad credit? Luckily recovering from past credit mistakes is manageable but will take time.
Refresh Financial offers the ultimate credit building tool in Canada. Available to residents of all provinces except Quebec and Saskatchewan. A definite plus with using a refresh loan is the amount of savings you will incur through the reduction of long term interests. Refresh Financial loans is a great tool to build up savings for a rainy day, emergency expenses or vacation. Applicants don’t have to worry about their past credit problems because 97% of applicants are approved.
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