Debt Consolidation Program

Are you dealing with debt and need relief? They say that a debt-free life is a stress-free life, and at Credit Canada, we believe those are words to live by. Whatever your debt problem may be, our certified Credit Counsellors will work with you to find the best debt relief solution to provide you with hope and peace of mind.

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What Is Debt Consolidation?

Consolidating your debt is the process of combining two or more debts into one. Some people choose a credit card balance transfer, a debt consolidation loan, or a home equity loan, but these often require good credit or high income, and some can actually dig you deeper into a financial hole. One option providing debt relief for Canadians that genuinely works is a Debt Consolidation Program.

What is a Debt Consolidation Program?

A Debt Consolidation Program is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debt into a single, lower monthly payment. These debt payment programs lead to faster debt relief!

10 Advantages of a Debt Consolidation Program

If you choose a Debt Consolidation Program as part of your debt management plan, it takes care of your unsecured debt. This includes credit card debt, payday loans, unsecured lines of credit, and other unsecured loans. It’s a simple, straightforward solution for debt relief with big benefits, such as:

  • Avoiding insolvency, including bankruptcy or a consumer proposal, which can severely limit your financial future.
  • One lower monthly payment you can afford, and consolidated debt that can typically be paid off within 24 to 48 months. 
  • Stopping or dramatically reducing the interest rate on your unsecured debts, saving you hundreds if not thousands of dollars over time.
  • No more collection calls – you’ll no longer have to fear your phone!
  • Timely, automatic payments to creditors, with full tracking.

 

  • A certified Credit Counsellor who negotiates with your creditors on your behalf.
  • Simple, monthly fund transfers by telephone banking, debit card, or money order.
  • A set completion date (otherwise known as a light at the end of the debt tunnel!).
  • Free debt management tools and advice.
  • A secured credit card while on the Program, and an unsecured credit card once you've successfully completed the Program*.
*Some conditions may apply based on the status of your debt management program

Take command of your money through a positive attitude and powerful tools!

How to Set Up Your Debt Management Plan for Success

A Debt Consolidation Program with Credit Canada also includes having a certified Credit Counsellor on your side, who’s like a friend who just happens to be a financial expert! Together, you’ll explore your attitudes about money while you learn simple money management skills that can last a lifetime. You'll discover how to:

  1. Build a personal monthly budget and stick to it.
  2. Track and control spending.
  3. Set financial goals you can achieve.
  4. Learn how to make your money work for you.

How much money could you save in a Debt Consolidation Program versus managing debt on your own? Check out our Debt Consolidation Calculator to find out now!

Try Our Debt Calculator

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Am I Eligible for a Debt Consolidation Program?

If your monthly debt payments – not including your mortgage or rent – are higher than 20% of your income, this is a sign that you could be in financial trouble. At Credit Canada Debt Solutions, we welcome anyone in Canada who needs advice on how to best handle their money and reduce or eliminate debt to experience true debt relief.

Our clients come from all walks of life and are eligible for help, regardless of their income level or employment status. There’s no pressure or judgment and everything we do for you is confidential.

Once we understand your full financial situation, you can either enroll into a Debt Consolidation Program or we can help you explore alternative solutions, like securing a debt consolidation loan that will suit your unique financial situation, needs, hopes, and dreams. 

A debt consolidation loan is a money management tool that allows you to combine or consolidate your unsecured debt into a single loan from a single lender—helping you experience faster debt relief by gathering the combined sum of your unsecured debt into a single loan with a set interest rate.

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Debt Consolidation Program or Loan

Should you sign up for a Debt Consolidation Program, or take out a debt consolidation loan? Should you consider a consumer proposal, or just manage your debt on your own? Take our free Debt Assessment Quiz to find out. It’s just four simple questions but the results could change your financial future!

Take the Debt Assessment Quiz 

Debt Consolidation Programs Make Life Less Complicated!

Paying down debt through a Debt Consolidation Program might be something that works for you. It’s not a complicated process because you’ll have a certified Credit Counsellor handling all the details for you every step of the way. And, by only having to make one monthly payment, life gets a whole lot easier! 

And that’s not all. A Debt Consolidation Program offered through Credit Canada Debt Solutions also includes valuable financial advice and tools.

  • Need new money management skills? You’ll get them! 
  • Want to discover how to create a personal monthly budget to help you pay your bills,  track your spending, and find easy ways to save? You got it! 
  • Looking to set financial goals you can reach? We’ll get you there! 
  • Want to start building good credit? We’ll show you how!

Ready to reduce or eliminate debt? Start your journey towards debt relief today! Our Credit Counsellors will give you everything you need to set yourself up for a bright financial future.

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What Will My Life Look Like On A Debt Consolidation Program?

A Brighter Financial Future

Credit counselling through our Debt Consolidation Program brings benefits that can impact your entire life. It can help you control your debt and teach you good money management skills – like how to budget, control spending, and reach goals. You’ll also learn how to achieve long-term financial security for you and your loved ones, as well as accomplish your hopes and dreams in life, such as:

  1. Owning your own home, having nice things, and travelling to unexpected places.
  2. Putting your kids through school, and retiring in comfort. 
  3. Putting aside worry, anger, and grief about money and finally living comfortably.

A debt management plan is not just about crunching numbers. It’s about understanding why you treat money the way you do. It’s about becoming moneywise, working on your financial wellness, and using financial tools that can put you in control of your own destiny.

Hopes and Dreams Realized After Debt Consolidation

Wondering How to Consolidate your Debt?

Scheduling a free Debt Assessment is the first step in the debt consolidation process. Of course, we know it’s not always easy talking with a stranger about your finances, so get to know the caring Credit Counsellors at Credit Canada before you make an appointment! Meet Kerri, our in-house French-speaking expert; Josie, who has over 20 years of financial experience; or Randolph, a family man with three kids, along with other caring and qualified Counsellors. 

Get a Free Debt Assessment

A Free Debt Assessment is the first step in the debt consolidation process. Simply fill out the form below and one of our credit counselling experts will contact you to begin discussing your personalized debt relief options, including our Debt Consolidation Program.

Free Debt Assessment