Best Debt Consolidation Loans in Canada (2026)
Independent comparison of Canadian lenders offering debt-consolidation loans. We do not negotiate debt — we list rates, terms, and fees so you can compare yourself. Rates and offers are updated regularly.
Advertiser disclosure: links to lenders and card issuers below are affiliate links. DebtDefender may earn a referral fee at no cost to you. This never influences our ranking — rankings are editorial.
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Frequently asked questions
What is a debt consolidation loan in Canada?
A single new loan used to pay off multiple debts (credit cards, lines of credit, payday loans). You then make one fixed monthly payment, ideally at a lower interest rate than the debts you replaced.
What credit score do I need for a consolidation loan in Canada?
Prime lenders typically require 660+. Sub-prime lenders accept 560+ but with higher APR. Always check the lender's published minimum before applying — every hard pull can lower your score.
Is debt consolidation the same as debt settlement?
No. Consolidation pays creditors in full at a new rate. Settlement negotiates partial payoffs and damages your credit. Consolidation typically preserves or improves credit.
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