Debt Services in Toronto

Lifeline Financial provides debt consolidation service, offers solutions to debt problems and bankruptcy advice to clients across North York, Scarborough, Mississauga, Brampton, Vaughan, Markham and Toronto.

Many of our clients approach us for mortgage loans for one reason or another. However, to get the best mortgage you need a good credit rating, usually around 660 beacon score. For this reason, we have taken it upon ourselves to help our clients improve their credit rating before they apply for a mortgage. We accomplish this in a number of ways.


    Where your credit rating is relatively good but you have a lot of debt but good income, we can consolidate your debts into one loan and free you of the numerous high credit card balances that are killing your credit rating. That, in itself, can help boost your credit rating within a few months.


    Many people who have credit card loans do not know how best to use their credit cards to build their beacon score and improve their borrowing capacity. Every lender I know gets excited when they meet a guy with a great credit rating. It’s like they want to hug you and give you all the money you want, even when you don’t need it. You probably have experienced getting a credit card in the mail that you did not apply for.

    In a nutshell, the proper use of credit cards can actually help improve your credit rating considerably so you can get best mortgage rates.


    Where a client already owns a house with equity but also has a load of debts that keep getting bigger and bigger month after month, we can use the equity in the home to pay off these nagging debts.

    When this is achieved, the borrower’s credit rating can shoot up to high levels very quickly. So, therefore, consolidation with the mortgage loan is usually a short term solution for say one year.

    This is usually enough time to improve a client’s credit rating. After one year, we can help the client get the best mortgage rates available in the market.


    When loan consolidation and refinance is not sufficient to pay off all your outstanding loans, we can negotiate with your creditors to take less than you owe them so that you can get rid of your debts and start afresh.


    If your situation is so bad that none of the solutions above will solve your problem, we can refer you to a compassionate Administrator of Consumer Proposals to help you sort out your debt issues with your creditors. This way you can pay as little as the law and your circumstances allow.


    Bankruptcy is a ten letter dirty word to some people, but once you understand it, you will realize that it is not so bad. Many rich people today have once declared bankruptcy.

    After exploring all alternative solutions, sometimes, bankruptcy may be the best for you. Don’t worry!

    For starters, bankruptcy never killed anyone and you certainly won’t be the first. We can guide you through the process so that the experience can be as painless as possible. Ken Ntiamoa is BIA Insolvency Counsellor as well as a Mortgage Broker. We will then refer you to a Professional and compassionate Bankruptcy Trustee who will see to it that you get rid of your debt load so you can keep your sanity. Sometimes, you may be able to keep your principal residence and still declare bankruptcy.


    When all is said and done, whichever route you take, you will need to rebuild your credit so you can buy the house that you’ve always wanted or renewed your mortgage on good terms. We can guide through that as well.