Debt Consolidation in Canada: How Inbudget Mortgage Can Help You Regain Financial Control
If you’re overwhelmed by multiple debts—credit cards, lines of credit, car loans—you’re not alone. Many Canadians are dealing with high-interest payments and the stress that comes with it. But there’s a smarter solution: debt consolidation.
At Inbudget Mortgage, we help clients across Canada combine their debts into a single, more manageable payment—often with a lower interest rate and clearer repayment terms.
What is Debt Consolidation?
Debt consolidation is the process of combining multiple debts into one loan or mortgage. Instead of juggling several high-interest payments each month, you’ll have one structured monthly payment—usually at a much lower interest rate.
Benefits of Debt Consolidation
✅ Lower interest rates compared to credit cards
✅ One monthly payment simplifies budgeting
✅ Improved credit score over time with consistent payments
✅ Reduced stress and faster debt repayment
✅ Possible access to home equity if you’re a homeowner
How Inbudget Mortgage Makes Debt Consolidation Easy
We’re not just mortgage brokers—we’re financial solution experts. Here’s how we help:
1. Review Your Full Financial Picture
We assess your current debt, credit history, and income to create a realistic and sustainable plan.
2. Home Equity Solutions
If you’re a homeowner, we can help you use your home equity to consolidate high-interest debt into your mortgage, potentially cutting your interest rate in half.
3. Access to Alternative Lenders
If banks say no, we say, “Let’s find another way.” Inbudget partners with alternative and private lenders across Canada who specialize in debt consolidation loans, even for those with bad credit.
4. No Pressure, Just Clear Guidance
We walk you through every step and give honest advice tailored to your financial goals.
Who Should Consider Debt Consolidation?
People struggling with credit card debt
Those with multiple loan payments
Homeowners with equity but poor credit
Anyone who wants to simplify their finances
🧮 Free Tools for Smart Mortgage Refinance
💼 Why Homeowners in Ontario Choose:
InBudget Mortgage for Debt Consolidation
✔️ Access to top-tier banks, B-lenders, and private lenders
✔️ Experience with high-value and investment properties
✔️ Trusted by families, professionals, and newcomers
✔️ Licensed mortgage brokers with Ontario wide experience
✔️ We compare 50+ lenders (banks, B-lenders, and private options)
✔️ Easy application, fast approvals, and full support
👉 Ready to Consolidate Your Debt? Let Inbudget Mortgage Help?
Contact InBudget Mortgage today for a free consultation and personalized tools. Get Your Mortgage Approved with NO stress.
“Want to find out how much mortgage debt consolidation can save your every month?”
Learn what you qualify for and how to move forward with confidence.
❓ Frequently Asked Questions: Debt Consolidation in Canada
🔹 What is debt consolidation?
Debt consolidation is the process of combining multiple debts—such as credit cards, personal loans, and lines of credit—into one single loan or mortgage. The goal is to simplify payments, reduce interest rates, and help you pay off debt faster.
🔹 How does debt consolidation work with Inbudget Mortgage?
Inbudget helps you consolidate high-interest debt by using:
A refinanced mortgage (if you’re a homeowner with equity)
A second mortgage or home equity loan
Tailored loan solutions through alternative lenders
We compare the best options to lower your payments and interest burden.
🔹 Will debt consolidation hurt my credit score?
Initially, your credit score may drop slightly due to a new credit inquiry. However, over time, consolidating debt and making consistent payments can improve your credit score significantly by lowering your credit utilization and avoiding missed payments.
🔹 What kinds of debt can I consolidate?
You can consolidate:
Credit card balances
Personal or payday loans
Lines of credit
Overdue bills or collections
Car loans or high-interest financing
🔹 Do I need home equity to consolidate debt?
Not always. If you’re a homeowner, using your home equity is often the most cost-effective option. But Inbudget also helps renters or homeowners with little equity access unsecured debt consolidation loans or work with alternative lenders.
🔹 Is debt consolidation the same as a consumer proposal?
No. A consumer proposal is a legal process where you negotiate to pay back a portion of your debt, which negatively affects your credit. Debt consolidation is a financing strategy that combines debt into one loan—often without harming your credit.
🔹 How quickly can I consolidate my debt?
With Inbudget, many clients complete the debt consolidation process within 5–10 business days, especially when using home equity. The timeline depends on how quickly documentation and appraisals are completed.
🔹 Can I consolidate debt if I have bad credit?
Yes! Inbudget works with alternative lenders and private lenders who understand your situation. Even with poor credit or past financial issues, we can find a solution tailored to your needs.