Debt Consolidation: The Final Comparison

debt consolidation review

Which option meets your needs?

Now that we have reviewed each debt consolidation option, it’s time to compare the results.

comparing debt consolidation options

As you can see, each debt consolidation option achieves different goals. Which program is best for you depends on your specific needs.


In our case studies, all our debtors owed $20,000 a month and they were struggling to maintain their monthly payments. After reviewing each debt consolidation option, their payment plans looked like this:

debt relief options savings comparison

Debt Consolidation, Debt Management Plan or Consumer Proposal?

While numbers are part of the story, the final decision is based on balancing these numbers with the pros and cons of each alternative and your personal situation.

You should choose the solution that you can afford, both in terms of monthly payments and long-term consequences. Debt relief programs such as a debt management plan or consumer proposal may offer lower payments, but they do affect your credit. Only choose those options if you need them financially. Revisit each of the five debt consolidation goals and identify which are important to you. Choose the plan that will meet those needs.

debt consolidation goals

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