With a lot of media coverage regarding LOC's (line of credit) these days, this article is a timely reminder that we should always ask first, act second espeically in the matters of our financial affairs. Maybe you've found yourself with more questions than answers lately regarding your creidit card debt or maybe you are in need of some credit counselling. Whatever your needs, mydebtsolution.com is here to help. We are a current member of the BBB and have maintained a consistent Triple A rating. Contact Us if we can help. Read on...

Catherine and her husband tapped into their first home equity line of credit 15 years ago, when they needed $30,000 to buy a car.

The rate on the line of credit was attractive and, having been mortgage-free for a decade, the Thornhill couple figured it would be a quick and easy way to get cash. A few years later, they needed another car, so their bank happily raised the amount to $70,000.