Fairstone Debt Consolidation Loan
If you're struggling with high credit card balances and large interest rate charges, a debt consolidation loan can help you get your finances back on track.
19.99% - 39.99%. Varies by loan type and province
Max. Loan Amount
Min. Credit Score
|Product Name||Fairstone Debt Consolidation Loan|
|Benefit Description||Consolidate your debt up to $20,000 for an unsecured loan and $35,000 for a secured loan.|
|Interest Rate||19.99% - 39.99%. Varies by loan type and province|
|Min. Loan Amount||$500|
|Max. Loan Amount||$35,000|
|Loan Term||6 months - 10 years|
|Loan Security||Debt Consolidation|
|Go to site|
If you’d rather make one simple monthly payment to cover your existing debt instead of dealing with multiple bills, you may want to consider a Fairstone Debt Consolidation Loan.
Pros and cons
- Free loan quote
- Flexible payment options
- No prepayment penalties
- Bill consolidation available
- Free debt consolidation calculator
- Application must be finalized in-branch
- Unclear fees and interest rate charges
Main points to consider with a Fairstone Debt Consolidation LoanFairstone offers customized debt solutions, which means it will carefully consider your personal situation when recommending a debt consolidation loan.Fairstone recommends that you fill out an online form to get a free loan quote. A lending specialist will contact you to discuss your options.
Keep in mind that a debt consolidation loan will impact your credit score. Depending on your situation, it can increase your credit rating or lower it.
Features of a Fairstone Debt Consolidation Loan
- Flexible loan size. You can borrow up to $35,000 with a Fairstone Debt Consolidation Loan.
- In-branch application. After you submit the online application, a Fairstone lending specialist will contact you to discuss your options. To receive the loan, you’ll have to bring documents to your local Fairstone branch.
- Monthly payments. With a Fairstone Debt Consolidation Loan, you can get out of debt faster with one simple monthly payment.
- Bill consolidation. In addition to debt consolidation, Fairstone offers bill consolidation loans that combine past-due bills into one simple payment.
- Debt consolidation calculator. Fairstone offers a free debt consolidation calculator that can calculate your potential savings.
How much does the loan cost?
The total cost of your loan will depend on the amount you borrow, the length of your loan and your credit history.
Loan fees vary across provinces and territories. Be sure to check for extra fees, as these will add to the total cost of your loan. Some common fees include the following:
- Application (establishment) fee
- Origination fee
- Late payment fee (interest fees and NSF fees)
How to apply for a Fairstone Debt Consolidation Loan
You can apply for a Fairstone Debt Consolidation Loan by clicking the green Go to site link on this page.
Once on the Fairstone website, click “Get a loan quote” and fill out your details. You will need to provide your full name, email, address, annual income and the debt amount you need to consolidate. A Fairstone lending specialist will contact you to discuss your application and to direct you to the nearest branch to get your loan.
To be eligible, you must meet the following criteria:
- Be a resident or citizen of Canada (excluding Nunavut).
- Be older than the age of majority in your province or territory.
Have an established credit history when applying for a loan you generally need to provide:
- Identification. You will need to provide either a Canadian driver’s licence, passport or birth certificate.
- Verification of income. You will need to demonstrate your ability to make repayments by providing either a pay stub, CPP statement or T4/T4a.
- Proof of housing. You will need to show mortgage verification.