Alternatives
Find Different Options for Debt Consolidation
This page brings together important information about debt consolidation. Debt consolidation involves combining multiple debts into one manageable loan, often with a lower interest rate.
You can learn about alternative solutions, such as debt settlement, consumer proposals, and bankruptcy, to help you evaluate your options and find the best path forward. Whether you’re exploring debt consolidation or other financial strategies, these resources will provide valuable insights to help you take control of your finances.
Everything You Need to Know About Debt Consolidation Alternatives
| Topic | Description |
|---|---|
| Consumer Proposals | Consumer proposals allow you to repay a portion of your debt while avoiding bankruptcy. |
| Debt Settlement | Debt settlement involves negotiating with creditors to pay a lump sum less than what you owe. |
| Debt Management Plan | Debt management plans consolidate unsecured debts into one affordable monthly payment each month and often reduced interest rates. |
| Bankruptcy | Bankruptcy can eliminate most of your debts but has a serious impact on your credit score. |
Alternatives covered in this section for Debt Consolidation
