If you're trying to get out of debt, a debt consolidation loan is one strategy to consider. But there are pros and cons to consolidating debt as well as myths such as these: 1. Debt consolidation allows you to pay back less money. 2. Debt consolidation hurts your credit score. 3. Debt consolidation takes a long time. | The Motley Fool

Debt consolidation? That's just shuffling the same debt around. Credit counseling? They can't reduce what you actually owe. This is different—it's a federally-regulated legal process that can cut your debt by 60-80%. It's how thousands of Canadians have actually gotten out from under crushing debt. | Debt Advisors Canada Ltd