There are mortgage rules in Canada about using your home equity to consolidate debt.Before you increase your mortgage to deal with your debts, take out a second mortgage at a higher interest rate, or apply for a home equity loan, talk to one of our experienced Credit Counsellors.To learn more about the pros and cons of consolidating debt with a line or credit or overdraft, click here.

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We know that it can be hard to ask for help with your debts, so we do everything we can to answer your call quickly, provide you with the information you are looking for and book you a free credit counselling appointment if that’s what you need.

Our appointments are either in-person, in one of our offices, or over the phone; whatever is easier for you.

The appointment doesn’t cost you anything, it’s completely confidential and without obligation.

Our goal is to provide you with expert advice about your debts so that you can resolve your situation successfully.

A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.

View the Total Cost of Borrowing Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.

In this case one of our Credit Counsellors can help you look at other debt consolidation options.

Related: More information on how a debt consolidation loan works Home equity is what’s left when you subtract what you owe on your house from what it’s worth.

Many of us have been where you are today, and understand the emotional burden that debt can place on a person.

Please contact us so that together, we can find a better way out of debt. We're so confident that we can help you achieve your goal of becoming debt-free in a reasonable time, that we back it up with a 6-month 100% money back guarantee on the services, support, and benefits you receive.

Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.