Debt Consolidation

Streamline Your Finances, Reclaim Your Freedom

Debt Consolidation

What is Debt Consolidation

Debt Consolidation Settlements in Toronto, ON

Debt consolidation is the process of condensing multiple separate debts into a single monthly payment. Depending on the way in which you consolidate your debt, it can be possible to gain a lower interest rate, or to wipe your interest rate completely. If you file a consumer proposal, often it is possible to reduce your debts too, typically up to 80%. It is always a good idea to speak to an experienced Licensed Insolvency Trustee who can walk you through your debt consolidation options. In Canada, there are 4 primary ways of achieving debt consolidation:

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Debt Consolidation

Struggling With Debt Consolidation

Loans and Line of Credit Debt

Overwhelmed by bank loans or line of credit debt? We can help you to eliminate or reduce your debt by up to 80%.

Credit Card Debt

Are you making minimum payments on your high interest credit card debt, using one card to pay off another—or missing payments altogether? We can help you reduce or eliminate your credit card debt.

Payday Loans

If high-interest payday loans are keeping you from getting ahead, work with our team to stop the interest and eliminate the loan.

Tax Debt

Do you owe tax debt to the CRA? We can help you reduce or eliminate your tax debt while avoiding more serious problems.

We can settle the following debts under
Insolvency Act

Business Debt

Business Tax

Car Loan Shortfall

Credit Cards

Line of Credit

Mortgage Shortfall


Pay Day Loan

Personal Loan

Revenue Canada

Store Cards

Student Loan

What Makes Us Different?

How Does
Debt Consolidation Work?

Together, we negotiate your existing debt amount down to a more manageable amount. It will be important to know about …


Your current financial situation


How much you owe and who you owe


Your work status


How much you earn

Don't let bad credit hold you back.

Your credit can be fixed with the help of our Credit Management Services, putting you on the road of financial success.

Call Now 416-780-1020

What Makes Us Different?

Advantages of a
Debt Consolidation

Consolidating your debt can have a number of advantages, including faster, more streamlined payoff and lower interest payments.

  • Streamlines Finances
  • May Expedite Payoff
  • Could Lower Interest Rate
  • May Reduce Monthly Payment

Debt Consolidation

General FAQ's

What are my obligations during a Debt Consolidation?

Although there is not the same level of duty required as when filing Debt Consolidation, filing a Debt Consolidation does mean that you take on some obligations. These include ensuring all agreed monthly payments are made on time, and attending two credit counselling sessions to learn more about financial management. There is no requirement to report on income and expenses.

What happens after a Debt Consolidation?

For many, filing a Debt Consolidation is the first step to finding freedom from the burden of overwhelming debts. From this point forward, you will be left with a reduction in debt that simply needs to be paid off through manageable monthly payments. Often this means that due to the reduced payments required, you can begin to save money and rebuild your credit. It is a good idea to speak to your Licensed Insolvency Trustee about how you can take action to rebuild your credit history. This could lead to obtaining a low-interest loan or even a mortgage.

How long is the payment plan in a Debt Consolidation?

In an approved proposal, you agree to pay a small portion of your debt which does not have any interest charges. The fixed pay back amount can be paid in monthly installments. The maximum time it can be stretched up to is 5 years. However, you have options to pay more and finish it as soon as you want.

Will I be able to obtain new Credit Cards after filing Debt Consolidation?

Yes you will be able to obtain new Credit Cards after you have filed your Debt Consolidation. We ensure that our clients are on the path to rebuild their credit history while they are in this process. Apart from credit cards, you will also get our professional advice to obtain a vehicle loan or a mortgage loan, for a prosperous future. Our goal is not just limited to making you debt free but also to help you possess personal wealth and assets in the long term.

What will happen to my assets as a result of filing a Debt Consolidation?

When you file a Debt Consolidation you are able to keep your house and your car. Your other assets are also not seizeable under the law, which means you get to keep those assets which include your personal Savings, R.r.s.p & R.e.s.p, Business Assets and your Insurance Policy. It has also no effect on a person’s Pension Plan, Old Age Security and any other Income Benefit.

Will a Debt Consolidation stop the collection process and other legal actions initiated against me?

A Debt Consolidation will immediately stop any legal actions and wage garnishments. It will also put an end to the collection efforts against you by your creditors or the third party agencies. You will start receiving your full pay and all the harassing calls and letter will go away.

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Faster than you think, you could

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What should you do now?

  • Be making one small monthly payment for all your debts
  • Be free of threatening phone calls
  • Be on the way to re-establishing your credit
  • Reduce your debts
  • Be free of wage garnishment

Contact Us

Our Locations

3200 Dufferin Street,
Suite 502, North York,
ON M6A 3B2

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150 Consumers Rd Suite No. 200, North York, ON M2A 1P9, Canada

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3025 Hurontario St,
Suite 300, Mississauga,
ON L5A 2H1

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