Can I consolidate my debt if my bank already declined me?

Absolutely. Banks follow strict guidelines — if your credit score is below 680, you're self-employed, or you've had a bankruptcy or consumer proposal, they'll likely say no. But that's not the end of the road. B lenders and private lenders make decisions based on your home's equity — not your credit score alone. CreditReboot works with 50+ alternative lenders who approve borrowers every day that banks have turned down.

How much can I borrow to consolidate my debt?

We lend up to 80% of your home's current appraised value. For example: if your home is worth $700,000 and you owe $400,000, your maximum is $160,000 (80% of $700K = $560K, minus $400K owed). Many homeowners can consolidate $30,000–$150,000+ depending on their equity position.

What's the difference between a home equity loan and a consumer proposal?

A home equity loan lets you pay off your debts in full at a much lower interest rate, preserving your credit and assets. A consumer proposal settles your debts for less than you owe — but it stays on your credit bureau for 7 years and severely limits your borrowing afterward. If you have home equity, consolidation through an equity loan is almost always the better financial path.

Can I consolidate CRA tax debt with a home equity loan?

Yes — CRA debt is one of the most common reasons homeowners come to CreditReboot. CRA debt compounds at penalty rates and, if left unaddressed, can become a lien against your property. Using home equity to pay it off in full stops the interest, removes the threat of a lien, and gets you back to clean standing.

Will consolidating debt hurt my credit score?

No — it typically helps it. When you consolidate high-interest debt into a home equity loan, your credit card balances drop to zero, drastically reducing your credit utilization ratio. Within 60–90 days, most clients see their score improve. Most clients move to A-lender prime rates within 12–24 months.

What are the costs involved?

CreditReboot's consultation is always free. If we place you with a lender, typical costs include: lender fees (1–3% of the loan), legal fees for mortgage registration (usually $1,000–$2,000), and an appraisal if required (typically $350–$500). These costs are almost always rolled into the loan — nothing out-of-pocket.

How fast can I get approved and funded?

Most approvals come through in 24–72 hours. Private lenders move fastest — sometimes same-day approval with funding in 3–5 business days once legal work is complete. B lenders typically take 5–10 business days.

I'm self-employed — can I still qualify?

Yes. Self-employed borrowers are among the most common clients we work with. Banks require 2 years of T1 generals showing strong declared income — which many business owners can't provide. B lenders and private lenders use stated income or bank statement programs instead.

Should I get a home equity loan or refinance my mortgage?

It depends on your existing mortgage. A home equity loan (2nd mortgage) is faster to set up and doesn't touch your first mortgage — ideal if you have a good rate or early renewal penalties. A cash-out refinance rolls everything into one first mortgage at a lower blended rate — better if your mortgage is up for renewal.

Is a credit check required to get started?

For private lenders — usually not. Private lenders focus on the equity in your home, not your credit file. For B lenders, a credit check is standard but they're far more flexible on what they accept. CreditReboot will always tell you upfront what's required before any application is submitted — no hard pulls without your knowledge or consent.

Canada's Digital Mortgage Broker — For Solutions Beyond the Banks

Credit, Income, or Debt in the Way? You Still Have Options

Get Pre-Approved Online!

BBB

A+

Accredited

Helping Homeowners
Since 2015

100% Digital
Application

Real People
No Bots

Equity & Refinance
Experts

Your Bank Said No. CreditReboot Didn't.

We compare options from 50+ alternative lenders across Ontario, Alberta and Saskatchewan — with solutions built around your home equity, income and financial situation.

Flexible ApprovalBad credit, low income & arrears considered.

Access Home EquityUse the equity for debt, expenses or your next move.

Lower Monthly PaymentsConsolidate high-interest debt into one manageable payment.

Digital Pre-ApprovalStart online — with real people guiding the process.

50+ Lenders ComparedOne application. More options across alternative lenders.

Cut Interest Cost by 50%Replace high-rate debt with equity-based rates.

A message from our founder

If you're visiting CreditReboot today, chances are you're looking for alternative options.

Maybe the bank said no. Maybe high-interest debt is adding up. Maybe you just want a clearer path before your next move.

I've spent the last decade helping homeowners in exactly those situations.

I founded CreditReboot on one belief: every homeowner deserves real options — regardless of income or credit.

Tell us your story — and we'll show you what's still possible.

Parm Mehmi

Founder & Principal Broker

Secure & confidential

Your information is protected with industry-leading security.

No obligation

Honest advice with no pressure and no commitment.

More options

Access to 50+ alternative lenders.

Fast turnaround

Most approvals within 24–48 hours, not weeks.

Here for you

Support from real experts at every step of the way.

See Our Success Stories

See how homeowners across Ontario, Alberta & Saskatchewan have used their home equity to eliminate debt, stop arrears, and lower their monthly payments.

Calgary Homeowner

Before Refinance

🏠 Mortgage Arrears $6,800

💳 Credit Card Debt $71,900

🎓 Student Loans $14,000

Total Debt $92,700

Monthly Debt Payments

$4,479

After Mortgage Refinance

🏡 Refinanced with B-Lender

Total Debt Included $92,700

New Monthly Payment

$2,698

Monthly Savings

$1,781

Toronto Homeowner

Before Consolidation

💳 Credit Card Debt $102,500

📄 Secured & Unsecured LOC $67,000

📋 Personal Loans $29,000

Total Debt $198,500

Monthly Debt Payments

$3,417

After Home Equity Loan

🏡 Consolidated into Home Equity

Total Debt Included $198,500

New Monthly Payment

$2,079

Monthly Savings

$1,338

Ontario Homeowner

Before Consolidation

📄 Unsecured Loans $24,000

💳 Credit Card Debt $28,000

🏛 Property Tax Arrears $4,500

Total Debt $56,500

Monthly Debt Payments

$1,250

After Home Equity Loan

🏡 Consolidated into Home Equity

Total Debt Included $56,500

New Monthly Payment

$676

Monthly Savings

$574

Alberta Homeowner

Before Refinance

🏦 Secured Line of Credit $64,000

📄 Unsecured LOC $21,000

🏠 Mortgage Balance $217,000

Total Obligations $302,000

Monthly Debt Payments

$2,688

After Consolidation Refinance

🏡 Mortgage + LOC Consolidated

Total Refinanced $302,000

New Monthly Payment

$2,132

Monthly Savings

$556

Edmonton Homeowner

Before Consolidation

📄 Lines of Credit $68,000

💳 Credit Card Debt $19,000

🎓 Student Loans $21,000

Total Debt $108,000

Monthly Debt Payments

$1,321

After Home Equity Loan

🏡 Consolidated into Home Equity

Total Debt Included $108,000

New Monthly Payment

$908

Monthly Savings

$413

Certain details have been modified to protect client privacy while preserving the overall outcome.

See your potential savings

How Much Could You Save Each Month?

Consolidate high-interest debt into one lower payment with better terms.

Total Debt$60,000

Current Average Rate21.99%

Home Equity Rate6.99%

New Monthly Payment

$468

fixed, predictable

You could save

$641/mo

vs. current minimum payments

Your CreditReboot Journey to Better Rates

Right now

21.99%

High-interest debt

Minimum payments draining you every month

Month 1

6.99%

Home equity loan

One payment. Credit score starts to improve in 60–90 days

12–24 months

~4–5%

Refinance to prime lenders

Qualify for A-lender rates. The 'expensive' phase is over

The results shown are estimates only and are intended for informational purposes. Actual loan amounts, interest rates, payments, and savings may vary based on your property's equity, credit profile, income, and lender approval.

See if I qualify Have questions? 1-866-329-8801

BEYOND THE BANKS

Our Most Popular Mortgage Solutions

Our expertise is helping homeowners navigate difficult financial situations.

Home Equity LoanOne lump sum from the equity you already own.

B-Lender MortgageBank said no? Approved on equity and income — not your score.

HELOC Bad CreditBorrow, repay, borrow again — interest only on what you use.

Debt ConsolidationRoll high-interest debts into one lower payment.

Second MortgageUnlock equity without touching your first-mortgage rate.

Mortgage ArrearsBehind on payments? Stop power of sale or foreclosure fast.

The Digital CreditReboot Process

No branch visits. No waiting in line. No unnecessary paperwork. Just a simple digital process.

1

Pre-Approval

Fill this form, speak to the broker, get your quote.
2

Application & Approval

Complete the application, we shop the deal to 50+ lenders, choose your approval.
3

Funding

Sign the broker documents, legal documents & get the funds!

Apply in 60 Seconds

Pre-Approved in Minutes. Funded in Days.

Step 1 of 11 9%

GET STARTED

Do you currently own the home?

Yes

YOUR PROPERTY

What is your home's estimated value?

$750,000

Drag to select

$200K$2M+

YOUR MORTGAGE

What is your current mortgage balance?

$450,000

Include all mortgages on the property

$0$1.5M

EXISTING DEBT

Do you have a HELOC or 2nd mortgage?

Yes

LOAN AMOUNT

How much do you need to borrow?

$50,000

To consolidate your debt

$10K$500K

YOUR GOAL

What is your primary goal?

💰 Consolidate Debt

🏛️ Pay Off CRA

🏠 Home Renovation

🛑 Stop Power of Sale

🤝 Buy Out Partner

📋 Other

YOUR LOCATION

What city is your property in?

ABOUT YOU

What's your name?

First Name

Last Name

CONTACT INFO

What's your email address?

CONTACT INFO

Best phone number to reach you?

PROPERTY ADDRESS

What is the property's street address?

Street Address

Province

Postal Code

No Upfront Fees · No Credit Check Without Consent

Hear from Our Clients

Let us help you find the right financing solution today.

         Posted on Google  
   
   Gary Evers 
 
 
 
 Trustindex verifies that the original source of the review is Google. Parm was excellent,  didn't matter what our questions were, he always had time for us.  Had a few tricky issues, but was handled very professional.  Thank you for getting us our house.
  
 
      Posted on Google  
   
   Elaiza Ibanez 
 
 
 
 Trustindex verifies that the original source of the review is Google. Parm was super knowledgeable and really helped us when we were in a pinch and needed a quick close. He made our stressful situation much more manageable, would highly recommend!
  
 
      Posted on Google  
   
   Harman Jammu 
 
 
 
 Trustindex verifies that the original source of the review is Google. I recently had the pleasure of working with Parm from Lending Circle, and I couldn’t be more satisfied with the experience. Parm stands out for his extensive knowledge of loan options and his exceptional customer service.

When it comes to loan options, Parm is a true expert. He meticulously assessed my financial situation and presented a range of mortgage products tailored to my needs. Whether I was interested in a fixed-rate mortgage or specialized loans, Parm provided clear, comprehensive explanations of each choice, helping me make an informed decision.

Customer service is where Parm truly shines. From the initial consultation to the final approval, he was consistently responsive and attentive. Parm took the time to answer all my questions, no matter how minor, and kept me updated throughout the entire process. His professionalism and dedication made what could have been a stressful experience much smoother and more manageable.

Overall, I highly recommend Parm and Lending Circle for anyone in need of mortgage services. Their combination of diverse loan options and outstanding customer care sets them apart in the industry.
  
 
      Posted on Google  
   
   Maya Molson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Parm from Lending Circle is an absolute pleasure to work with. He specializes in home equity loans and second mortgages. Whenever I bring a client to Parm, he delivers fast turnaround times on approvals. Working with him is seamless from start to finish.
  
 
      Posted on Google  
   
   Boban10 
 
 
 
 Trustindex verifies that the original source of the review is Google. No matter anyone's predicament, especially in the current economic market, I highly recommend working with Parm and Lending Circle. Parm was professional all the way guiding us through the process seamlessly and insuring we ended up with the best deal possible. In the end we were able to secure a rate better than what our current lender was offering for a short-term fixed rate. Thank you Parm and talk to you soon.
  
 
      Posted on Google  
   
   Himadri Das 
 
 
 
 Trustindex verifies that the original source of the review is Google. The Lending Circle, in particular Parm, is the most timely, honest, and professional broker I've ever had the pleasure of working with. Throughout the whole deal, Parm was upfront and tried his hardest at every turn to make things a bit more favorable for me. He truly put himself in my shoes and fought for me to solve the problemmatic situation I found myself in. Thank you Parm! I look forward to working with you again!
  
 
      Posted on Google  
   
   Molly Das 
 
 
 
 Trustindex verifies that the original source of the review is Google. Among all the brokers I've worked with over the years, Parm at Lending Circle is at the top. I was put into a tricky situation and all other brokers had failed deliver, but Parm helped me out of it. He diligently worked to get me a better deal at every single turn, going back and forth with lenders to get me the best deal possible. Thank you so much Parm, I couldn't have turned this around without you!
  
 
      Posted on Google  
   
   Sohon Das 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Lending Circle, and all the credit goes to Parm. After calling numerous brokers, only Parm was able to help me. He was professional, attentive, took time to clearly answer all my questions, and above all he did his best to understand my situation. I cannot speak of Parm highly enough, he is simply the best and I look forward to working with him again!
  
 
      Posted on Google  
   
   Bridgit Rewald 
 
 
 
 Trustindex verifies that the original source of the review is Google. Lending Circle has been a wonderful help in understanding the process of mortgages and mortgage renewal. Very easy to talk to. Non-judgemental. Highly suggest and recommend!
  
 
  
  Load more