Start Consolidating your debt in canada

Consolidating your debt in canada

You get an $18,000 debt consolidation loan from your bank, and you use the money to pay off your credit cards, payday loan, and back taxes.

Consolidation loans in Canada are available at banks, credit unions and finance companies.

You can apply for an unsecured or secured consolidation loan (for example obtain a second mortgage to pay off credit card debt).

Did you know that you can combine all of your high-interest debt – including debt from credit cards, auto loans and personal lines of credit – into one low-rate mortgage loan? By consolidating debt in a secured loan, backed by the equity in your property, you can access interest rates lower than even a personal line of credit would allow.