6 Best Debt Consolidation in Toronto: A Comprehensive Guide

Are you having difficulty keeping track of all your loans and debts? If this is the case, enrolling in a debt consolidation plan can aid in paying everything in one go.

We searched the Greater Toronto Area in search of credit institutions that provide one of the desirable debt consolidation options in Toronto to benefit people struggling with a huge amount of debt.

We have included all the information you should be aware of, including the variety of their services and their payment terms. So, without further delay we present our top picks!

1. Steve Welker and Company

Steve Welker and Company is an organization that is a part of bankruptcy and aims to help Canadians from financial ruins. It is most well-known for its bankruptcy options, but we believe the debt reduction program it offers is worthwhile to look into too.

It makes use of consumer proposals to combine all your debts into a single payment that protects them from the incredibly high interest rates. It is a common debt settlement agreement that allows you to pay your lenders a proportion of the loan amount in exchange for complete debt forgiveness.

It’s a great method of consolidating debts as it protects you from bankruptcy. Additionally it has lengthy payment terms of up to five years and zero interest rate, which results in savings over the long term up to 70 percent.

Steve Welker and Co.’s services are highly recommended for those who are feeling stressed due to being constantly contacted from your loan provider. The company’s certified insolvency trustees are able to get those phone calls to your bank as well as the bill collectors disappear through legal methods.

Each customer has the right to two consultations free of charge with the company’s team. This gives the opportunity to speak with a person, describe their situation, and learn what Steve Welker and Company is going to deal with their situation.

To what extent it can help, Steve Welker and Company can be a fantastic opportunity for people who are looking to settle their debts as quickly and easily as they can.

Review by Customer

Have a look at the comments by Google Reviews: Google Reviews:

“I could not have asked for a more positive experience. Todd provided consumer suggestions to me. I’d not heard of this before. Everything he explained was helpful, and the procedure played exactly as the man said it would. The price he quoted me precisely what he stated it would cost. The counseling sessions I went through with Raquel were awe-inspiring. She truly is a compassionate and considerate person. It’s like feeling a massive weight was taken off my shoulders and I’m able to begin anew. Thank you Steve Welker! I would suggest them to anybody experiencing financial issues .”-Robyn Stutton

“Steve Welker is a remarkably pleasant as well as a competent person to work with. Steve was able to make me feel comfortable when discussing my personal issues and gently gave me suggestions and options that I am extremely satisfied with. The price was definitely less than I anticipated and his staff is pleasant to work with and if there’s any issues they will be unable to help. I would definitely endorse Steve and his business to any member of my friends or relatives who need this kind of service. .”- “Yvonne Reaney”

In this article

SERVICESThe debt consolidation process, the reduction of credit stops collection call, eliminate taxes, stop garnishments and stops interest
WEBSITEhttps://stevewelker.ca/
ADDRESS314-200 Ronson Dr, Etobicoke, ON M9W 5Z9, Canada
INFORMATION ON CONTACT416-246-7771
Operating HoursMonday through Friday: 8:30 AM to Friday: 5:00 9:00 PM

Pros

  • Flexible payment terms
  • There aren’t any ridiculously high interest rates
  • Ideal to keep from bankruptcy
  • Includes two consultations for free.

Cons

  • In some instances, there are exceptions to being eliminated
  • There are no operations on Saturdays.

2. Easyfinancial

SERVICESCredit consolidation and secured personal loans secured personal loans, savings loans installment loans, as well as financial education
WEBSITEhttps://www.easyfinancial.com/
ADDRESS245 Dixon Rd, Etobicoke, ON M9P 2M4, Canada
Contact Details647-794-2224
Operating HoursMonday through Friday, from 10:00 AM to 7:00 pm
Saturday 9:00 AM – 5:00 pm

If you’re searching for an institution that is trusted with many Canadians, consider Easyfinancial. In the past year, more than a hundred thousand Canadians sought assistance from the company. help that tells you something about the reliability of its services.

Easyfinancial assists customers in paying minimum $45,000 of numerous credit and loan debts. The debt consolidation loans offered by the company offer flexible terms for payment and range from 9 to 60 years which is a lot more than other loan and credit companies permit.

Naturally, another feature we love the most about Easyfinancial is the lower interest costs. For instance, if you take out a loan of $10,000, you will only need to pay $69.65 as interest based on the terms you choose for your payment.

When it comes to the accessibility of its services, Easyfinancial is the one to beat. It has over 200 locations spread across the nation, so we’re confident that a branch in your area at the moment.

The only drawback to Easyfinancial has been that we’ve seen some negative feedback regarding its customer service which is why you may want to be wary when dealing with the company. In other words it’s a great option as a credit or loan provider.

Pros

  • Affordable rates of interest
  • Flexible payment terms
  • Branch accessible
  • Friendly and accommodating staff

Cons

  • Customer service is a bit shaky.

An individual customer by the name of Adam Abshir shared this comment:

“I want to express my gratitude to AISHWARYA . She is awe-inspiring and excellent in what she does and extremely well-qualified. I was considering opening the doors of a new company and was seeking an investment loan to get it up. She assisted me in getting the amount I needed 10k. Thank you Aishwarya If I could have more stars, I would award the money to you. .”

Another user named Beulah Grace shared this on the internet:

“The FSR Chetanye was very helpful throughout the entire process. He explained the process step-by-step and was prompt to answer any questions or concerns. I received excellent customer service. Thank you so much for all your benefit and I truly appreciate your effort you put into explaining things in a way that is clear. I highly recommend it! :)”

3. York Credit Services

SERVICESCredit repair, debt consolidation counseling for credit income tax debt business debt relief programs, mortgage referrals and auto loan referrals
WEBSITEhttps://yorkcreditservices.com/
ADDRESS101 Sumach St, Toronto, ON M5A 3J8, Canada
Contact Details647-302-3328
Operating HoursMonday through Friday 9 AM – 9:15 pm

As one of the most committed debt consolidation firms by numerous business leaders There’s no reason to not including York Credit Services to our list of choices. It was selected to make our list due to two primary reasons.

In addition, it has an entire team of highly skilled credit and loan specialists who are able to handle any kind of personal or business debt. The extensive network of its employees lets it offer an accurate debt solutions for its clients in just two days!

The second reason is that its debt consolidation services are available to all regardless of the reason for their financial strain, whether it be a loss of employment, or death of a beloved one or divorce. It’s safest to say the company is eager to benefit those facing financial difficulties.

But, as a client, you must be willing to have your monthly income and expenses carefully reviewed by its credit counselors. This is their way to make sure that every customer is offered the excellent option for their particular situation.

Contrary to other debt consolidation firms, York Credit Services doesn’t make promises that aren’t true. It is possible to expect that its counsellors will be honest to the point where your situation cannot be solved.

York Credit Services can’t promise that all of your debts will be completely eliminated. One thing is for certain however: you won’t need to doubt about the high rates of interest and financial charges.

Pros

  • Low interest rates
  • Free consultation
  • Accessible location
  • Financial benefit through its site
  • The largest network of debt counsellors and experts

Cons

  • Closed on weekends

“At one point, I was unsuccessful in managing my own business, and I ended up with four credit cards totalling a debt of $200K. It was a challenge to pay it off. efforts at paying it back on my own, all day long, but I realized I was unable to manage this amount on my own. I enrolled in York Credit when I decided to put my life back in order and finally be debt-free. I began in August of 2015 and am currently debt-free since early 2018. My credit was affected quite significantly and impeded my ability to obtain a mortgage over the some time, but at the end of the day, I think it was worth it. I’m happy I chose these people.” Layla Dickinson

“Not my first choice of an choice for my debt. After talking to Stan I was convinced that this was the accurate opportunity as I felt that Stan really cared and was able to understand my situation. So far, I’m satisfied with their assistance. They’ve reduced my loan payments.” Ray Smith

4. Lending Circle

SERVICESHome equity loan private mortgage bad credit mortgage refinancing mortgages, mortgage arrears cash-out refinances reverse mortgages, the purchase of a home.
WEBSITEhttps://www.lendingcircle.ca/
ADDRESS101 Sumach St, Toronto, ON M5A 3J8, Canada

21 King St W, Suite 500, Hamilton, ON – L8P 4W7
INFORMATION ON CONTACT866-556-3136
Operating HoursMonday through Friday 9:00 am to Friday: 5:00 pm

With a score of 5/5 in Google Reviews, Lending Circle is the desirable reviewed company of our choices.

It is primarily the mortgage brokerage and lending business however, its debt consolidation services are something we strongly recommend homeowners who are in a huge amount of debt due to their mortgage.

We recommend you check out Lending Circle if you’re a homeowner in need of more cash. Lending Circle assists its homeowners by approving their mortgage or providing funds to the home equity loan or an additional mortgage.

As such, Lending Circle is not accessible to everyone. It is only available to those who are unable to pay their debts because of mortgage or home-related reasons and are in desperate need of cash in their pockets.

It’s among the few lending firms in Toronto that specialize in consolidating home equity, mortgages as well as other loans that are related to housing. This is why we could not benefit and add this to the list of perfect ways to consolidate debt in Toronto.

With regards to interest rates, based on the reviews of customers, Lending Circle offers low rates of interest for their debt-consolidation programs. There’s nothing on their website about interest rates however we’re relying on the words of its clients on this matter.

Pros

  • Affordable rates of interest
  • Online consultations
  • Two locations are located in the GTA
  • Flexible payment terms

Cons

  • Only open to homeowners with the process of paying off

Dr. Robert Villa shared this personal experiences in Lending Circle:

“Great encounter working alongside them. I was able to maintain a transparent communication channel and also clarifying certain aspects that we could not fully grasp or comprehend. We felt confident in their advice and it’s been easy that we don’t have to worry about making these decisions on our own, without the right guidance. .”

A Customer named Arlene Timothyms posted this comment online:

“I recently utilized the Lending Circle for mortgage financing. I was able to work with the active Parm. Wow! The man was skillful as well-informed throughout. He gave me clear options. He responded to all my questions in a timely manner and with completeness. I felt as if my business was very important to him. I would highly would recommend Lending Circle!”

5. EmpireOne Credit Solutions

SERVICESCredit counselling, debt consolidation personal bankruptcy, consumer-oriented proposals
WEBSITEhttps://www.empireonecredit.ca/
ADDRESS250 Consumers Road. Room 810 Toronto, ON M2J 4V6
INFORMATION ON CONTACT416-477-3503
Operating HoursMonday through Thursday: 9 am to 6:30 pm
Saturday 9:00 AM until 4:00 pm

EmpireOne is a financial business that offers debt relief without judgment to benefit Canadians overcame consumer debt, personal loans collection calls, garnishment and other financial burdens.

One thing we appreciate about EmpireOne is the fact that it provides high-quality, individualized debt services. EmpireOne is a firm that believes there are no two situations that require the same approach, which is why clients can be assured that its solutions to be tailored to their particular needs and desired results.

The coverage of debt consolidation covers credit card loan, payday loans, bank loans, as well as tax debts. It’s not as wide as one might think however, it’s satisfying provided you’re not involved with shady loans.

Contrary to the majority of credit firms, EmpireOne doesn’t ask for upfront costs of its patrons. It is only necessary to pay when all your loans have been paid off and a contract is reached between you and the company.

Another feature we love the most about EmpireOne is the fact that it has the ability to handle incessant collection calls from your lender as well as wage garnishments. We believe that both of these attributes are something that every person should be looking at in any credit provider.

For customer support, EmporeOne doesn’t fall short. Their debt counsellors are available from Monday through Saturday during working hours, ready to speak to prospective customers about tackling and reducing the amount of debt they have.

Pros

  • Service to customers that is reliable
  • Operating hours that are longer
  • There are no upfront fees
  • Competitive rates of interest
  • Customised solutions for debt

Cons

  • Limited debt consolidation coverage

Here’s what some customers have to say:

“I would certainly highly recommend Empire One to my relatives and acquaintances. Their staff member, Elvira, is very accommodating. If you require an update, you’ll always get the response you need from her at all times. As of now, I am receiving approval for credit cards to get an opportunity to start over … This appears that my score on credit is becoming better. I am grateful to Empire One.” -Miya V

“EmpireOne helped me to get my finances back in order. The staff, specifically Elvira was always helpful and patient. I would definitely refer their help to anyone needing benefit to get back on direction. They definitely deserved and deserve these 5 stars. .”- Paul Boamah

6. goPeer

SERVICESConsolidation of Credit Cards
Consolidation of Debt
Home Renovations
Finance or Repair of an Auto
Medical expenses
Big Purchases
WEBSITEhttps://gopeer.ca/borrow/
ADDRESS111 Peter St, Suite 700 Toronto, Ontario Canada M5V 2H1
Contact Details
1 (844) 960-3090
Operating HoursOpen all hours of the day

GoPeer might appear similar to any other company that lends money with its headquarters in Toronto however, what makes them apart is the fact that the money they lend comes from regular Canadians rather than large banks.

They permit smaller investors to join in the fund that means less hassle dealing with transactions than larger finance companies that require more paperwork and take longer to complete.

With their help the clients are able to get the money they require more quickly than they have ever. However, just because it’s quick does not mean that it’s a scam. goPeer is proud to offer secure loaning services that have minimal charges, all for the benefit of assisting the other citizen. The company was designed by the people, for the people.

The services they provide include car financing aiding in medical financials in addition to debt consolidation and credit card.

For more information about goPeer and the team that is behind it, visit their website. The form is also available there to fill out for any questions about the process or other information.

Be assured that they’ll be back in touch in the shortest time possible.

Pros

  • Rapid and efficient processing of client requests
  • Professional staff
  • Low-interest rates
  • Trusted money lender

Cons

  • Online customer service can be slow due to the amount of traffic

Here’s what some customers had to say about it:

“Very simplified process that was very well-organized. Going through goPeer was effortless and well-qualified. They provided excellent customer service and also. I highly recommend Go Peer to invest peer-to-peer or borrowing from peers. A+ service.”

“This could be the accurate experience I’ve ever experienced. I’m thrilled to have found that out about GoPeer. I did some online research and love the concept that my loan will be backed through the other Canadian investors. I made an online application and spoke with a helpful staff member from the customer support team (I believe that was Alex). Within a few hours of submitting the application my loan was accepted and uploaded on their forum to request funding. It only took a couple of days, and 85 investors helped make my loan possible. It took a couple of days before I had the funds on my bank account. The entire process was pleasant than any other borrowing experience I’ve had previously. When I’m in a position to invest my own money I’m sure to do it through GoPeer and benefit others. .”