Debt Consolidation Loans - Save Money Today
Stop juggling multiple payments. Consolidate debts into one affordable monthly payment and save an average of $459/month.
Average Client Savings:
$459/month
That's $5,508 saved every year!
Lower Rates
From 19.99% down to 9.99%
One Payment
Replace 5+ payments with one
Save $459/mo
Average client monthly savings
Rebuild Credit
Improve score with on-time payments
Debt consolidation is the process of combining multiple high-interest debts - such as credit cards, personal loans, payday loans, and lines of credit - into a single loan with one monthly payment and a lower interest rate. This strategy can save you thousands in interest charges and help you become debt-free faster.
For example, if you're carrying $20,000 in credit card debt at 19.99% APR with minimum payments of $900/month, you could consolidate into a personal loan at 12.99% APR with payments of just $500/month - saving $400 every month while paying off your debt faster.
Real Savings Examples
Total Debt to Consolidate
$10,000
You Save
$200/mo
Current Payments:
$450/mo
New Payment:
$250/mo
💰 Total savings over loan term: $4,800 over 24 months
Total Debt to Consolidate
$25,000
You Save
$450/mo
Current Payments:
$1,100/mo
New Payment:
$650/mo
💰 Total savings over loan term: $10,800 over 24 months
Total Debt to Consolidate
$50,000
You Save
$950/mo
Current Payments:
$2,200/mo
New Payment:
$1,250/mo
💰 Total savings over loan term: $22,800 over 24 months
Debts You Can Consolidate
Credit Cards
19.99-29.99% APR → 9.99-14.99%
Store Cards
24.99-29.99% APR → 9.99-14.99%
Payday Loans
300-500% APR → 9.99-19.99%
Personal Lines of Credit
Combine multiple lines into one
Why Debt Consolidation Makes Sense
- ✓ Stop collection calls and reduce financial stress
- ✓ Improve credit score by reducing credit utilization
- ✓ Fixed payment schedule makes budgeting easier
- ✓ Save thousands in interest charges
- ✓ Become debt-free faster with structured repayment
- ✓ Avoid bankruptcy or consumer proposal
How does debt consolidation work?
You take out one new loan to pay off all your existing debts. Instead of making multiple payments to different creditors, you make one monthly payment on the consolidation loan - typically at a much lower interest rate. This simplifies your finances and saves money on interest.
Will debt consolidation hurt my credit score?
Initially, there may be a small temporary dip from the credit check. However, debt consolidation typically improves your credit score over time by: (1) reducing credit utilization ratio, (2) ensuring consistent on-time payments, and (3) showing paid-off accounts. Most clients see credit score improvements within 3-6 months.
How much money can I save with debt consolidation?
Savings depend on your current debts and interest rates. The average Canadian with $23,000 in high-interest debt saves $459/month ($5,508/year) by consolidating. Over a 3-year loan term, that's $16,524 in total savings - money that stays in your pocket instead of going to interest charges.
What's the difference between debt consolidation and bankruptcy?
Debt consolidation is a loan that helps you pay off debts in full while maintaining and often improving your credit. Bankruptcy is a legal process that eliminates most debts but severely damages your credit for 6-7 years and appears on your record permanently. Consolidation is always preferable if you can qualify.
Can I consolidate debt with bad credit in Canada?
Yes! We work with lenders who specialize in bad credit debt consolidation. While your rate may be higher than prime rates, consolidating will still save you money compared to maintaining high-interest credit card debt. Even with bad credit, consolidation rates (15.99-39.99%) beat credit card rates (19.99-29.99%) and payday loans (300-500% APR).
Current Monthly Payments:
~$1,200
After Consolidation:
~$650
YOU SAVE
$550/mo
Loan Range:
$5,000 - $100,000
Interest Rates:
From 9.99% APR
Repayment Terms:
12 to 84 months
Approval Time:
As fast as 1 hour
Funding:
24-48 hours
- Making only minimum payments
- Using credit cards for basic expenses
- Missing or late payment
- Maxed out credit limits
- Receiving collection calls
Get Your Free Debt Consolidation Quote
See how much you could save. No obligation. No impact on credit score.