If you are new here, the guides and articles below will help you quickly understand your options and give you a clear direction out of debt.
Debt is hell. But it does get better.
Right now, it looks bleak. You’re under terrible stress and everything you’ve worked hard for is being swallowed by debt.
I’ve seen debt push people to the end of their limits.
I’ve seen families lose their homes, their education savings for their children, and most sadly their confidence and hope.
While it looks terrible now, I can honestly promise that in a year or so, it will get better. I know because I’ve met many people in the exact same situation as you.
On this page, I’ll give you the best resources we’ve published and hopefully show you that others have made it through similar situations.
Every Canadian has options when it comes to debt. There is help. I’m going to show you what you need to do.
Why I wrote this
I wrote this as I’ve found that many Canadians are completely unprepared for financial crises. They know little about bankruptcy legislation, their legal rights for dealing with creditors, and often fall into the well-prepared traps of creditors.
When it comes to debt, creditors really are flexible. Most consumers will continue to pay huge sums of interest and resign themselves to a fate of perpetual punishment. But it doesn’t need to be this way. You do have rights and options in Canada.
These resources are all written by myself and a few of our senior experts.
I have 20+ years experience in financial services, know the debt in Canada inside out, and have helped thousands of Canadians.
I’ve seen all types of debt–from 50K in student loan debt to 300K in unsecured debt–and really encourage you to educate yourself and take the time to read a few of these resources.
The 5 articles you need to read
This page contains a ton of good information. But if you have a large amount of debt and are in trouble, you need to understand five things.
ONE: The 8 proven debt options every Canadian needs to know about
TWO: Debt consolidation 101: when should you use it?
THREE: 8 big myths about debt: ignore these at a huge cost
FOUR: Debt consolidation versus consumer proposals: the pros and cons
FIVE: How to file bankruptcy: what you need to know about the process
This is a little encouraging
This is a true story of a man we helped.
Imagine yourself at age 50, losing your business, and being responsible for 200K in debt.
We asked him to document his progress and his story answers many of the questions you likely have such as “are consumer proposals a scam? How does bankruptcy work? Will I lose everything to my creditors?”
TOOLS AND DEBT CALCULATORS
I’ve created a list of essential debt calculators and tools for getting out of debt here.
- Really helpful financial workshops with videos and resources (Workshop + Videos)
- Get Smarter About Money (Resources by the Ontario Government)
- Registered Retirement Savings Plan via Canada Revenue Agency
Common questions about debt in Canada
You have likely heard about common debt reduction options such as consumer proposals and debt consolidation. However, there is a lot of confusion about these options. Are they scams? Do they impact your credit rating?
Our senior staff sat down to basically answer every question we’ve received over the years.
How do you actually file for bankruptcy in Canada?
Bankruptcy in Ontario – where to start?
What are the best alternatives to bankruptcy?
What are the pros and cons of debt consolidation in Canada?
Debt consolidation or consumer proposal? What’s the difference?
How much is too much debt – when to consider debt restructuring?
I missed a mortgage payment – what happens now?
What are the best and proven tactics to get out of debt in Canada?
The 8 big myths about debt in Canada – these can cost you thousands of dollars
Case studies: families who used debt consolidation & consumer proposals
Have you read the basics?
Here are some case studies from Canadians we’ve helped reduce large sums of debt by helping them structure consumer proposals, debt consolidation, and other restructuring.
How this Kitchener resident dealt with 40K in unsecured debt
How we helped a man in British Columbia survive 200K in debt
How we helped a 38 year-old man with 40K in student loan debt
Need help? Email an expert in your city.
We have 50+ offices across Canada. Our talented and compassionate experts will listen to your situation and give you more information about how we help.
- Learn about your debt help options and rights in Canada
- Ask questions and receive free resources
- Speak to an expert in confidence
Or read reviews from other Canadians.
