Written by Lisa Rennie

Best Debt Consolidation New Brunswick 2020

Lender directory

Compare the best lenders in this region

	Loan Amount	Rate	Term (Months)	Rating
1588809600	$49.99 - $99.99	0%	12	$49.99 - $99.99
1582243200	-	-	Up to 60	-
1580947200	-	-	-	-
1580860800	$500 - $5,000	-	12 - 24	$500 - $5,000
1580860800	$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
1580860800	$1,600 - $25,000	9.47% - 20.07% APR	36 - 60	$1,600 - $25,000
1580774400	$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
1579478400	$100 - $1,500	-	-	$100 - $1,500
1579478400	Up to $3,200	-	-	Up to $3,200
1579219200	$100 - $25,000	+4.9%	-	$100 - $25,000
1576713600	-	Up to 35%	-	-
1576713600	$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
1576627200	-	-	-	-
1575590400	1800- 2900	15.99%	23 - 36	1800- 2900
1574899200	$500 - $7,500	-	-	$500 - $7,500
1560124800	Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
1545955200	Up to $20,000	19.44% and 31.90%	36 - 84	Up to $20,000
1552262400	$1,000 - $15,000	19.90% - 46.90%	12 - 60	$1,000 - $15,000
1551830400	$100 - $1,000	546% APR	14 days	$100 - $1,000
1569974400	$500 - $50,000	15 - 30%	-	$500 - $50,000
1551830400	$1,000 - $15,000	19% - 46.95%	6 - 60	$1,000 - $15,000
1551398400	$500 - $1,000	28% - 32%	-	$500 - $1,000
1551139200	$5,000 - $35,000	9.9%+ APR	36 - 60	$5,000 - $35,000
1550534400	$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
1550534400	$100 - $1,500	-	14 days	$100 - $1,500
1569974400	Up to $1,500	15% - 23%	-	Up to $1,500
1550534400	Up to $1,500	Up to 59% APR	14 days	Up to $1,500
1550534400	$500 - $1,000	28% - 32%	3 -5	$500 - $1,000
1550534400	$300 - $1,000	38% APR	3 - 4	$300 - $1,000
1549411200	$100 - $1,000	546% APR	14 days	$100 - $1,000
1549238400	$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
1549238400	$250 - $1,000	29% APR	3 - 4	$250 - $1,000
1548720000	$500 - $1,000,000	12%	12	$500 - $1,000,000
1548720000	$1,000 - $50,000	4.6% – 49.96%	3 - 60	$1,000 - $50,000
1548633600	$300 - $7,500	29.9% - 39.9%	6 - 60	$300 - $7,500
1548633600	$50 - $1,500	-	14 days	$50 - $1,500
1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
1545264000	$2,000 - $10,000	18.9% - 54.9%	12 - 60	$2,000 - $10,000
1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
1545264000	Up to $35,000	26.99% – 39.99%	6 - 60	Up to $35,000
1545264000	$500 - $12,500	19.99%+	12 - 60	$500 - $12,500
1545350400	Up to $1000	30%	3 - 5	Up to $1000
1545350400	Up to $5,000	60%	6 - 60	Up to $5,000
1545350400	Up to $7,000	-	6 – 60	Up to $7,000
1545350400	$500 - $2,500	29% - 46.95%	6 - 36	$500 - $2,500
1545350400	$500-$1000	28%-32%	3	$500-$1000
1545350400	$500 – $750	28% – 34.4%	3	$500 – $750
1545350400	$500 – $750	23% - 34.4%	3 – 12	$500 – $750
1545350400	$300 - $1500	27% - 35%	3 - 4	$300 - $1500
1545264000	$500 - $35,000	29.99% – 46.96%	9 - 60	$500 - $35,000
1545264000	$300 – $35,000	5.9% - 45.9%	24 - 60	$300 – $35,000
1568937600	$50 – $10,000	-	Up to 62 days	$50 – $10,000
1545177600	$1,000 - $35,000	5.99% to 29.19%	36 - 60	$1,000 - $35,000
1545177600	Up to $20,000	19.99% - 46.8%	6 - 60	Up to $20,000

	Loan Amount	Rate	Term (Months)	Rating
1585612800	-	0.9% - 12%	6 months - 5 years	-
1581984000	$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
1581033600	-	-	-	-
1581033600	-	-	-	-
1581033600	-	-	-	-
1580947200	-	-	-	-
1580947200	$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
1580860800	-	-	-	-
1580860800	-	-	-	-
1580860800	-	-	-	-
1580860800	-	-	-	-
1580860800	$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
1580860800	-	-	-	-
1580860800	-	-	-	-
1580860800	up to $250,000	-	-	up to $250,000
1580860800	-	-	-	-
1580688000	Up to $10,000	-	-	Up to $10,000
1580256000	$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
1579478400	-	-	-	-
1579478400	$10,000- $30,000,000	Min 4.95%	-	$10,000- $30,000,000
1579478400	-	-	12 - 120	-
1579478400	-	-	24 to 60	-
1579478400	-	-	-	-
1579478400	-	-	-	-
1579046400	-	-	-	-
1577059200	-	-	-	-
1577059200	-	-	-	-
1577059200	-	-	-	-
1575849600	$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
1575849600	Up to $250,000	-	-	Up to $250,000
1575590400	-	-	-	-
1575590400	-	-	-	-
1545955200	$5,000 - $150,000	5.49% - 22.79%	12 - 60	$5,000 - $150,000
1541030400	Up to $35,000	-	-	Up to $35,000
1552262400	Up to $250,000	-	Up to 10 years	Up to $250,000
1552262400	-	-	-	-
1552262400	Up to $1,000,000	-	-	Up to $1,000,000
1551830400	$10,000+	-	Up to 15 years	$10,000+
1551830400	Up to $1,000,000	-	Up to 15 years	Up to $1,000,000
1551830400	Up to $500,000	-	Up to 10 years	Up to $500,000
1551830400	$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
1551398400	$3,500+	-	-	$3,500+
1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
1551139200	Up to $75,000	-	Up to 18	Up to $75,000
1550534400	$500-$50,000	0.5% weekly	12 week cycles	$500-$50,000
1550534400	$1,000 - $1,000,000	6% - 20%	-	$1,000 - $1,000,000
1550534400	Up to $5,000,000	4.5%	24 - 72	Up to $5,000,000
1550534400	$5,000 - $200,000	-	-	$5,000 - $200,000
1549411200	$50,000 - $12,000,000	-	24 - 96	$50,000 - $12,000,000
1549411200	$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
1549238400	$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
1548720000	$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
1548720000	Up to $100,000	6.05% +	60	Up to $100,000
1548720000	$10,000+	18% - 22%	-	$10,000+
1548720000	$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
1545177600	$1,000 - $35,000	5.6% – 25.5%	36 – 60	$1,000 - $35,000
1545264000	$5,000 - $250,000	-	3-18	$5,000 - $250,000
1545264000	$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
1545350400	$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
1545264000	$5,000 – $100,000	Starting at 6.87%	3 – 18	$5,000 – $100,000
1545177600	$5,000-$250,000	8% - 29% APR	6 - 18	$5,000-$250,000
1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
1561507200	Up to $300,000	-	-	Up to $300,000

	Loan Amount	Rate	Term (Months)	Rating
1582761600	-	-	-	-
1581033600	-	+ 4.9%	-	-
1581033600	-	-	-	-
1580688000	-	-	-	-
1579478400	-	-	-	-
1579478400	-	-	-	-
1579478400	-	-	-	-
1578873600	-	+8.99%	-	-
1578873600	-	-	-	-
1551830400	$5,000 - $10,000	-	up to 84	$5,000 - $10,000
1552262400	Up to $250,000	-	12 - 60	Up to $250,000
1552262400	Up to $1,000,000	-	up to 96	Up to $1,000,000
1551830400	Up to $100,000	-	6 - 96	Up to $100,000
1551830400	$10,000+	-	12 - 96	$10,000+
1551830400	Up to $1,000,000	-	up to 96	Up to $1,000,000
1577059200	-	-	up to 72	-
1577059200	-	-	-	-
1575849600	-	-	-	-
1575849600	$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
1575849600	-	-	-	-
1575590400	-	-	-	-
1575590400	-	-	-	-
1575590400	-	14.5% to 29.9%	-	-
1575504000	-	-	-	-
1569974400	$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
1562112000	-	Up to 49.9%	-	-
1561507200	-	-	-	-
1561507200	-	-	Up to 84	-
1560124800	$500 - $35,000	$29.99% – 46.96%	9 - 60	$500 - $35,000
1551830400	Up to $30,000	-	-	Up to $30,000
1548720000	-	-	-	-
1548633600	-	4.2%+	-	-
1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
1545177600	Up to $50,000	-	-	Up to $50,000
1545177600	$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
1545177600	-	-	Maximum 84	-

	Loan Amount	Rate	Term (Months)	Rating
1578873600	$1,000 - $35,000	-	24 - 60	$1,000 - $35,000
1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
1545264000	Up to $25,000	-	12 - 60	Up to $25,000

	Loan Amount	Rate	Term (Months)	Rating
1581033600	-	2.74% - 6.30%	12 - 120	-
1580947200	-	-	-	-
1580860800	-	-	-	-
1580860800	-	2.64% - 4.45%	12 - 120	-
1580860800	$50,000+	2.74% - 3.49%	12- 120	$50,000+
1580860800	-	-	-	-
1580860800	-	-	-	-
1580688000	-	2.79% - 6.00%	6 - 60	-
1579478400	-	2.74% - 3.70%	6 - 120	-
1578873600	-	-	-	-
1578873600	-	2.69% - 3.95%	6 - 120	-
1577059200	-	-	-	-
1577059200	-	2.84% - 7.30%	-	-
1574899200	min 25,000	4.99% - 5.59%	6 - 60	min 25,000
1560124800	-	2.89% - 3.79%	-	-
1548720000	-	2.41% - 3.84%	-	-

	Services	Rating
1576540800	Credit Counselling, Bankruptcy, Consumer Proposal	Credit Counselling, Bankruptcy, Consumer...
1576540800	Personal Bankruptcy, Consumer Proposal	Personal Bankruptcy, Consumer Proposal...
1576540800	Bankruptcy, Consumer Proposal	Bankruptcy, Consumer Proposal...
1576540800	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...
1576368000	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...

Debt is a rampant problem for consumers across New Brunswick, especially debt that comes with high-interest rates. The more debt you have on your plate, the harder it can be to pay it all down. And the more debt you add to your books, the longer it will take you to become debt-free.

Here’s how to deal with rising interest rates in Canada.

While having some debt is not necessarily a bad thing, it can completely take over your financial life. And the more loans you have that each require their own separate payment, the more difficult it can be to manage all of your debt. This is where debt consolidation can help.

What is Debt Consolidation in New Brunswick?

Basically, debt consolidation involves consolidating all of your debt into one, single payment. Rather than having multiple loan payments to make, each with their own interest rate, you’d only have to manage one loan payment every month. The biggest bonus is that the payment will probably come with a much lower interest rate compared to some of your other high-interest debt, such as credit card debt.

Debt Consolidation Loans. These loans are ideal for those who have been keeping up with their payments and have good credit. They can help consumers reduce their overall interest in order to help them save money over the long run.

Anyone in New Brunswick who has many loans on their plate at high-interest rates could benefit from a debt consolidation loan. Although the interest rate might be somewhat higher than a secured loan, it is often less than what is typically charged on credit card balances. As such, debt consolidation loans can effectively reduce your interest rate and your overall payment amount.

Don’t understand secured and unsecured debt? Look here for an explanation.

If you have been diligent about keeping up with your payments and have good credit, this type of program may work for you. It can provide you with a way to streamline your finances while saving money on interest.

Read this if your debt consolidation loan application gets denied.

Debt Consolidation Programs. If you’ve been turned down for a debt consolidation loan because of your bad credit, there are debt consolidation programs available in New Brunswick to help. These programs are designed to help consumers in New Brunswick with their debt by reducing monthly debt payments, roll all payments into one single payment, waive penalties and fees, and avoid any black marks on credit reports.

Want to learn how to tackle your debt for good? Click here.

What if You’re a New Brunswick Consumer with Bad Credit?

If you are a New Brunswick consumer with bad credit, you may still have some options when it comes to debt consolidation.

Get a cosigner. Even if you’ve been turned down for a debt consolidation loan, you might be able to get accepted if you have a cosigner with good credit. A cosigner can be anyone with good credit who agrees to take over your loan payments if you default in the future. This means that the cosigner will be responsible to make payments until the loan is fully repaid.

Wondering what types of lenders accept co-signers? Find out here.

Use the equity in your home. If you have equity built up in your home, you may be able to use it to secure a debt consolidation loan. Although you will still be in debt, you’ll still be able to transfer your high-interest debt to another loan with a lower interest rate to help you save on interest charges.

Should you pay your credit card debt using your home equity? Read this to make your decision easier.

How Do New Brunswick Consumers Get into Debt?

Debt is rather easy to get into. There are plenty of expenses in life that can be very difficult to cover without taking out a loan to pay for the charges. However, things can spiral out of control if you’re not careful. Here are just some of the reasons why consumers get themselves into deep debt:

Overspending
Irresponsible spending habits
Loss of a job
Pay cut
Medical issues
Financial emergencies
Unexpected car or home repairs

Although many times it is the consumer who may put themselves in a financial predicament, life can also throw us unexpected curveballs that are out of our control and can put us further into debt.

What Types of Debt Can Be Consolidated in New Brunswick?

Generally speaking, only unsecured debt can be consolidated in New Brunswick, including the following:

Credit cards
Unsecured personal loans
Gas cards
Non-government student loan debt
Cell phone debt
Utility bills
Medical bills

Secured debt, such as mortgages, is usually not eligible for consolidation.

Bad Debt Vs. Good Debt

Is there such a thing as “good” debt? Isn’t all debt bad?

Not necessarily. There is certainly a difference between good and bad debt.

For example, good debt is considered to be anything that allows you to leverage other people’s money to advance your financial situation. Buying a home in New Brunswick, for example, is generally thought of to be good debt because it involves purchasing an asset that is expected to appreciate in value over time. As long as you don’t overextend yourself with your mortgage amount, a home loan can be considered good debt that can help you build wealth over time.

Can’t figure out how long you should amortize your mortgage for? Try reading this.

On the other hand, bad debt is considered anything that doesn’t afford you with something that appreciates in value. In fact, bad debt is money that’s taken out to buy something that actually depreciates in value rather quickly.

A car loan can be considered bad debt for this reason. Since cars typically lose value very quickly, the debt incurred is considered bad debt. That said, most people need a car in their lives and are unable to pay for the car in full upfront. As such, a car loan is actually necessary, despite what category it may fall under in terms of good versus bad debt.

Check out this infographic for more information about credit scores.

Will Debt Consolidation in New Brunswick Affect Your Credit Score?

Debt consolidation in New Brunswick may affect your credit depending on how you choose to go about it. For example, if you take out a personal loan to consolidate your debt, your lender will need to pull a “hard” inquiry, which will be reported on your credit report and pull your score down temporarily.

However, if you choose to consolidate your debt to pay down high-interest debt like credit cards, you can effectively reduce your credit utilization ratio, which can actually help your credit score.

Need a bad credit loan in New Brunswick? Look for it here.

Make Your Debt Easier to Manage

Debt consolidation can be a great way to make your debt a lot easier to manage in New Brunswick. It can also make your debt much more affordable by reducing the overall interest burden. Find out more about debt consolidation and how it can help your finances by getting in touch with Loans Canada today.

Get Started