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Debt Consolidation

Combine your loans with debt consolidation in Ottawa and Gatineau

Bernier & Associates can assist you with debt consolidation in Ottawa, Gatineau and in our various offices in Québec and Ontario. In the event of overdue or excessive monthly payments, this simplified loan formula collects your outstanding debt, reduces your payments and helps you regain financial balance. 

How Does Debt Consolidation Work?

Debt consolidation typically involves taking out a new loan with a single financial institution. It allows you to combine several debts from bank cards, consumer credits or late payments into a single loan. Its main advantage is that it allows you to have a single payment term and to obtain a loan with interest at a substantially lower rate. 

The term of a debt consolidation loan is usually determined by the creditor. In some cases, the financial institution that provides your debt consolidation loan may request the temporary closure of your credit card accounts to prevent further indebtedness. In this case, a credit counsellor can help you create a budget to better balance your income and expenses, thereby making you less reliant on credit. 

What Are the Advantages of Consolidating Your Debts?

A debt consolidation loan allows you to simplify your debts by rolling them into a single loan. Plus, this type of loan comes with a lower interest rate than most credit cards and other unsecured loans. Consolidating your debt won’t reduce the amount you owe, but you might be able to lower your monthly payment amount to free up more income each month. All of this can help you save money, pay off your debts sooner and regain financial stability. 

Are All Debts Included in a Consolidation? 

There are some exceptions, such as a secured loan where the creditor holds a movable or immovable mortgage (car loan - mortgage on the house). However, a financial institution may exclude certain debts. As a rule, it will consolidate loans and credit cards that concern consumer debts. 

How to Qualify for Debt Consolidation in Ottawa or Gatineau?


In general, to qualify for a debt consolidation loan, you must:

  • Have a good credit history
  • Hold a job
  • Have enough income to make regular payments

If you're not sure whether you qualify for debt consolidation, count on our professionals at Bernier & Associates in Gatineau and Ottawa to assess your situation and give you an accurate idea about which of our services will be most beneficial for you. 

Thinking of Consolidating Your Debts? Make an Appointment with Bernier & Associates!

For more information about debt consolidation, please contact us at the office nearest to you. We have offices in Ottawa and surrounding areas, in Gatineau and elsewhere in the Outaouais, Abitibi, Montreal, and the Laurentians. In total, Bernier & Associates has 15 offices across Quebec and Ontario.

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A consumer proposal helps you get out of an insolvency situation.

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226, rue Papineau





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