Consolidated Credit Canada » Videos » How Does Debt Consolidation Work?

How Does Debt Consolidation Work?

It may sound counter-intuitive, but you can use debt to pay off debt. Learn how debt consolidation works and what you can do to make sure you’re a good candidate.

How does debt consolidation work ?
Debt Consolidation has a weird definition. It is a loan you secure to pay off other loans.
That may sound odd, but it really works and here is why.
That one loan comes from a bank, a line of credit or a credit card balance transfer. If you use it to pay off your stubborn credit card balances, you can actually save money.
Here’s how.
Debt consolidation loans charge much less interest than what you are currently paying on your credit cards. It’s all in the numbers.
Right now, the average credit card interest rate is around 20% but debt consolidation charges half that. Sometimes even less depending on your personal circumstances. This way you are making your hard-earned cash work more efficiently.
Interested now?
Well, your first step is to call a trained a credit counsellor at Consolidated Credit. You will receive a free debt analysis and the counsellor will present you with a list of options based on your situation.
You choose the best way to become financially free and we help you every step of the way

What is your total credit card debt amount?

Provide a few details about yourself.

First Name

Last Name

Email Address

Phone Number

Postal Code

Voulez-vous parler en français?

¿Quieres hablar en español?

I consent to receive electronic messages via email and to my mobile device (including SMS and MMS – charges may apply depending on your carrier, not by us, messaging frequency varies; text HELP for help, text STOP to cancel) from Consolidated Credit regarding products and services (including tips, newsletter and promotions). See Privacy Policy and Terms of Use. You can withdraw your consent at any time.

##first_name##, here are your next steps...

Get a clear picture of your spending vs. your income. Begin your online budget and financial analysis now by clicking the button above.

Our experts are here to help you understand your options and reach your goals. After you complete the easy-to-use online budget, one of our trained counsellors will reach out to you and provide recommendations.

Everything shared is 100% confidential and secure.

I understand and agree that by choosing “Start your online budget now”, I am voluntarily providing certain personal financial information in order to educate myself as to my current financial position. I understand that this budget tool is educational in nature, and that none of the information received in the form of a budget constitutes financial advice, nor does it constitute a counselling session. I understand and agree that the budget depends on the information I input into the fields, and that Company does not represent or guarantee the accuracy of the budget. I understand that this tool may collect information and should I choose not to provide such information, I am not to proceed further. If I choose to abandon the tool midway through the process, I understand that the information will not be maintained and I would be required to start providing the information from the beginning. Company disclaims all warranties associated with the budget tool herein. I understand and agree that Company may use the contact information provided herein to contact me through various means of communications, including automated messages, and that I expressly consent to receive these messages.