What is DebtSimplify?

Your ultimate guide to securing the best loans, mortgages, and peer-to-peer financing. Compare options, get expert insights, and apply with confidence.

What is the minimum credit score needed for a personal loan in Canada?

Most Canadian lenders require a minimum credit score of 600 for personal loans. However, some lenders offer options for credit scores as low as 500, though rates may be higher. DebtSimplify connects you with lenders across the credit spectrum.

How fast can I get approved for a loan?

With DebtSimplify, you can get pre-approved in minutes and receive final approval within 24-48 hours. Funds are typically deposited within 1-3 business days after approval. Some lenders offer same-day funding for qualified applicants.

What is P2P lending in Canada?

Peer-to-peer (P2P) lending in Canada connects borrowers directly with individual investors through online platforms. This often results in better rates than traditional banks, with loans up to $50,000 available at competitive rates from 8.99% APR.

What are the best personal loan rates in Canada?

Personal loan rates in Canada range from 8.99% to 46.96% APR depending on your credit score, income, and chosen lender. Borrowers with excellent credit (750+) can access rates from 8.99%, while those with poor credit may see rates up to 46.96%. DebtSimplify helps you compare rates from multiple lenders to find the best option.

Can I get a loan with bad credit in Canada?

Yes, many Canadian lenders specialize in bad credit loans. Borrowers with credit scores as low as 500 can qualify, though interest rates will be higher (typically 19.99%-46.96% APR). DebtSimplify partners with lenders who accept all credit levels.

What is debt consolidation and how does it work?

Debt consolidation combines multiple debts into one personal loan with a single monthly payment. This often results in lower interest rates and simplified finances. For example, consolidating credit card debt at 21.99% into a personal loan at 11.99% can save thousands in interest.

Home/Terms of Use

Terms of Use

The terms and conditions for using DebtSimplify's loan comparison services.

Last updated: June 2026

Summary

DebtSimplify is a free loan comparison platform for Canadians. We earn referral commissions when you apply through our links (at no extra cost to you). Our content is educational, not financial advice. You are responsible for verifying all loan terms with lenders before signing. We are not liable for lender decisions or third-party services.

1. Acceptance of Terms

By accessing and using DebtSimplify.ca ("the Website"), you agree to be bound by these Terms of Use and our Privacy Policy. If you do not agree with any part of these terms, please do not use our website or services. DebtSimplify is a financial comparison platform that connects Canadian borrowers with lenders. We are not a lender, broker, or financial advisor. We facilitate comparisons and referrals to third-party financial institutions.

2. Affiliate Disclosure

DebtSimplify earns referral commissions from lender partners when users apply for and are approved for financial products through links on our site. This comes at no additional cost to you — the rates and terms you receive are the same as if you applied directly. We may also display advertisements and promotional content from third-party advertisers. All affiliate relationships are disclosed in accordance with the Competition Bureau of Canada guidelines and FTC guidelines. Our editorial content is independent of our affiliate relationships. We strive to provide accurate, unbiased information regardless of commission arrangements.

3. No Financial Advice

All content on DebtSimplify.ca is provided for informational and educational purposes only. It does not constitute: • Financial, legal, tax, or investment advice • A recommendation to apply for any specific product • An offer or solicitation to lend • A guarantee of loan approval or specific interest rates Rates, terms, and conditions displayed on our website are subject to change and may not reflect current offerings. Always verify all information directly with the lender before applying. We strongly recommend consulting with a qualified financial advisor or Licensed Insolvency Trustee for advice specific to your situation.

4. User Responsibilities

When using our website, you agree to: • Provide accurate, truthful information when applying for financial products • Use the website only for lawful purposes • Not attempt to interfere with website security or functionality • Not reproduce, redistribute, or resell content without written permission • Verify all loan terms, rates, and conditions with the lender before signing any agreement You must be at least 18 years old and a resident of Canada (or the applicable jurisdiction) to apply for financial products through our platform.

5. Limitation of Liability

DebtSimplify is provided "as is" without warranties of any kind. To the fullest extent permitted by law, DebtSimplify shall not be liable for: • Loan approval or denial decisions made by lenders • Discrepancies between displayed rates and actual lender offers • Financial losses resulting from loan agreements entered with third-party lenders • Indirect, incidental, or consequential damages arising from website use • Actions taken by third-party lenders or financial institutions You are solely responsible for your financial decisions. Always review the full terms and conditions provided by any lender before accepting a loan.

6. Third-Party Links and Services

Our website contains links to third-party websites, including lender application forms, calculators, and educational resources. We are not responsible for: • The content, privacy policies, or practices of third-party websites • The accuracy of information displayed on external sites • The quality of service provided by lender partners • Any agreements or transactions between you and third-party lenders Each lender and third-party service has its own terms and conditions. Please review them carefully before using their services.

7. Governing Law

These Terms of Use are governed by the laws of the Province of Ontario and the federal laws of Canada. Any disputes arising from these terms shall be resolved in the courts of Ontario, Canada, unless otherwise required by applicable consumer protection laws. If any provision of these terms is found to be unenforceable, the remaining provisions shall remain in full force and effect.

8. Changes to These Terms

We may update these Terms of Use at any time. Changes will be posted on this page with an updated "Last updated" date. It is your responsibility to review these terms periodically. Your continued use of the website after changes are posted constitutes acceptance of the modified terms. If you do not agree to the changes, you must stop using the website.