How debt consolidation with Parachute works

Apply in minutes

Fill out our simple application form to see if you’re eligible for our debt consolidation loan. We typically require a credit score of at least 600, and we can provide loans up to $25,000.

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If you're eligible, here's what happens next.

1. Simplify

We start by simplifying all your debt into one easy payment. This makes your debt easier to track and control.

One payment date

One monthly payment

One interest rate

2. Roadmap

Then, we’ll you give you a personalized roadmap to help you achieve improved financial well-being.

Pay Parachute loan on time

Keep your credit utilization low

Pay all other bills on time

Don’t take new debt

3. Rewards

And finally, we reward you for following our guide to healthy financial behaviour.*

Earn cash-back

Win weekly & monthly rewards

Improve your credit score

Feel in control of your finances

*Rewards are available through the achievement of specified actions and are only applicable to approved loans that are active for the entire term. Terms and conditions subject to change at any time. Learn more

You deserve financial well-being.

We work with customers to put them on the right path and reward them for achieving monthly financial goals. The more our customers succeed, the more they’re rewarded. Our goal is financial well-being for everyone.

Learn more about us →

We truly believe financial well-being should be accessible to all Canadians. Our three step program empowers, educates, and rewards our customers. We offer the only loan where someone can leave with more savings than when they started.

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