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Instead, all of our debt consolidation advice is centered around your financial situation, your priorities and finding what option will work best for you.

Our Counsellors can assist you right now with a plan to: has been helping people consolidate their payments and learn how to manage their debt and money better since 1996.

For consolidation loans, low-risk borrowers receive the best interest rates, ranging from about 7% to 12%.

Higher risk borrowers can expect to pay interest rates generally ranging from 14% to over 30% among second-tier lenders, which can do more harm than good.

For income earners, debt problems can be overcome with the help of skilled not-for-profit credit counselling professionals offering something called debt management or consolidation programs.

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Among first-tier lenders – including banks and credit unions – usually only the most creditworthy customers are eligible for consolidation loans.

Through the main financial institution where they do business, some creditworthy customers can even merge unsecured debts they have outside of that institution as well.

That purpose is defeated if after you get the loan, you go onto accrue more debt through continued access to old accounts and credit cards, which probably led you to want to consolidate your debts in the first place.

The terms of any consolidation loan should be considered carefully.

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