Debt consolidation means combining several debts — credit cards, lines of credit, payday loans — into a single payment, usually at a lower interest rate. Done right, it cuts your interest cost and simplifies your month. Done wrong, it just stretches the debt out longer.
This hub collects every SimpleLoan page on the topic: plain-language guides, quick answers to the questions people actually ask, and free calculators to run your own numbers. Nothing here is advice for your specific situation — for that, a non-profit credit counsellor is free in Canada.
The full guide: consolidation loans, balance transfers, HELOC consolidation, and when each makes sense.
Avalanche vs. snowball, and when consolidation beats both.
What to do in the first 30 days when income stops but payments don't.
The honest answer: it depends on the rate, the fees, and your habits.
The legal alternative to bankruptcy that most Canadians have never heard of.
When a lump sum beats investing it.
Why 19.99% costs more than you think.
See the monthly payment and total interest on a consolidation loan before you apply.
Check whether your debt load is in the range lenders consider healthy.
Saved lender listings sorted by advertised rate, with as-of dates.
The number lenders check first.
The only honest way to compare two loan offers.
Official information on consumer proposals and bankruptcy.
The federal consumer agency's debt resources, including free credit counselling referrals.
SimpleLoan is a free, independent information site. Nothing on this page is financial advice — confirm current rules with the official sources above before making a borrowing decision.