Answers

Tips, Tricks, Help & Relief Options

Dealing with debt often brings many questions, and you’re not alone in seeking answers. On this page, we’ve gathered the most common questions about debt in Canada based on the real-life experiences of people just like you. From understanding how debt affects your credit to exploring available relief options, these questions reflect many Canadians’ genuine concerns.

Financial Solutions for Canadians

We aim to provide clarity and reassurance, reminding you that you’re not alone. Many others are walking the same path, and together, we can navigate these financial challenges to find a way forward.

Have a question you’d like to ask? Want to ask it anonymously? Ask any question about debt anonymously, and we’ll get back to you as soon as possible with an answer. Ask a debt question.


What types of debts are excluded from a consumer proposal?

What types of debts are excluded from a consumer proposal?

consumer proposal
Discover what debts can't be included in a consumer proposal debt solution. Learn about secured debts, student loans, and more. Read now to stay informed!
How can I manage debt without a consumer proposal?

How can I manage debt without a consumer proposal?

debt management plan
Discover effective debt management strategies to avoid consumer proposals! Learn about budgeting, debt consolidation, and more. Read now for expert tips!
Are gambling debts considered unsecured in personal bankruptcy?

Are gambling debts considered unsecured in personal bankruptcy?

personal bankruptcy
Discover how personal bankruptcy in Canada can wipe out unsecured debts like gambling. Learn the importance of honesty in filing. Read now!
Can you keep your house with a consumer proposal?

Can you keep your house with a consumer proposal?

consumer proposal
Struggling with debt and wondering if you can keep your house during a proposal? Discover how to protect your home while managing mortgage payments. Read now!
Can I purchase a car while in a consumer proposal?

Can I purchase a car while in a consumer proposal?

consumer proposal
Discover how to navigate buying a car with a consumer proposal. Learn the essential steps and get insights from a Licensed Insolvency Trustee. Read now!
Can creditors deny a consumer proposal?

Can creditors deny a consumer proposal?

consumer proposal
Discover the reasons a consumer proposal might be denied and what to prepare for. Learn about creditor approval and ensure you stands a better chance. Read now!
What occurs after 45 days in a consumer proposal?

What occurs after 45 days in a consumer proposal?

consumer proposal
Discover what happens after day 45 of your proposal. Learn about key changes, creditor meetings, and how a Licensed Insolvency Trustee can help. Read now!
What is the success rate of consumer proposals in Canada?

What is the success rate of consumer proposals in Canada?

consumer proposal
Although the success rate of a proposal in Canada can vary, with about 70% approval from creditors, it can be a solid choice for managing debt. Learn more!
Who is responsible for paying consumer proposal fees?

Who is responsible for paying consumer proposal fees?

consumer proposal
Discover who pays for a consumer proposal, how fees are managed and the role of a Licensed Insolvency Trustee. Read now to understand your financial commitment!
Do creditors have to approve a consumer proposal?

Do creditors have to approve a consumer proposal?

consumer proposal
Discover whether creditors must accept a consumer proposal in Canada. Learn about the process and tips to strengthen your proposal. Read now!