Take Charge of Your Debt
This online tool from the Government of Canada will help you fully understand your debt problems and some options that are available to you, regardless of your level of debt and to whom you are indebted. You will also find information on making a budget and budget counselling, collection agencies, credit and credit repair. Finally, if you wish to further increase your knowledge in any of these subject areas, a list of relevant publications is provided for your reference.
- Warning Signs of Debt
- Ways to Reduce Your Debt
- "Last Resort" Options (by Region)
- Collection Agencies
- Credit Reports, Credit Scores and Credit Repair
- Resources on Personal Finances and Debt
- Glossary of Terms
The Office of Consumer Affairs would like to thank all of its collaborators for their valuable help in this project: The Association coopérative d'économie familiale de l'Outaouais staff, Dr. Ruth E. Berry (Manitoba Association of Home Economists), Rob Boulanger (Credit Counselling Services of Atlantic Canada, Inc.), Jocelyne Lévesque (Université Laval), the Office of the Superintendent of Bankruptcy and Fran Smith (Credit Counselling Services of Alberta Ltd.).
When businesses or consumers cannot pay their debts, they may file for bankruptcy or make a proposal (a payment arrangement with their creditors to prevent bankruptcy). These are legal proceedings carried out under the Bankruptcy and Insolvency Act and must be registered with the Office of the Superintendent of Bankruptcy.
"Take Charge of Your Debts" may not be relevant for people involved in either process.
Important — the content of this information product does not constitute legal advice and should not be relied upon as such. If you need legal advice on a specific matter, please consult your legal advisor (or your lawyer).
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