Comparing Consumer Debt Relief Options
Showing important aspects of debt relief options in Canada.
  1. Debt Help
  2. Common Debt Relief & Consolidation Options in Canada

Common Debt Relief Options in Canada

A lot of people don’t realize it, but there are many debt relief and consolidation options in Canada. They range from debt consolidation loans to Debt Management Programs to Consumer Proposals. If you’re struggling to make your monthly bill and credit card payments and really need a way to get back on your feet, there’s likely some form of debt relief or consolidation that can help you. The trick is finding the right debt relief option for your situation that will do three things:

  1. Resolve your current financial problems as quickly as possible,
  2. Fit your situation as something you can realistically afford and stick with, and
  3. Allows you to accomplish your long-term goals.

Below is a chart that lays out many of the most common forms of debt relief available in Canada. While each option has many facets that can’t all be captured by a simple chart like this, it attempts to provide a high level overview of each option and how they all stack up when you look at different aspects of each one.


Common Debt Relief Options in Canada

Your Next Step

As you can see, there are a lot of options, and this comparison chart only provides a general overview of each one. To get into all the details of each option and see which one might be able to help you the most, you either need to talk with a professional who offers a specific option or speak with a local, non-profit credit counsellor who is very familiar with all of them and is trained to help people find the best one for their particular situation.

If you’d like to explore all your options with one of our professionally trained and certified credit counsellors, give us a call and make an appointment. Our appointments can be over the phone or in-person – whichever is easier for you. If you’d like to quickly get an idea of what options may be available to you, respond to the questions below.


Find Out What Options May Be Available to You
by Answering 9 Simple Questions

Just answer these easy, multiple-choice questions to get a look at your potential options. Within a few minutes, you'll be looking at summarized options and results that apply specifically to your situation.

Discover Your Options

1. How would you describe your financial situation? Please move the slider along the scale to reflect approximately where you feel you're at.
I can cover all my expenses each month, plus have the ability to save.
I can cover my monthly expenses, but I need to borrow, work extra, etc.
I can no longer cover all my expenses every month.
2. Which of the following best describes you?
3. How stressed do you feel about your debt?
Not stressed
Somewhat stressed
Very stressed


Certified by Great Places to Work Canada
Accredited by Canada’s national association of non-profit credit counselling organizations.
North America’s largest association of non-profit credit counselling organizations.
Accredited by the Better Business Bureau.

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