When dealing with debt, you may want to explore all of your options. They include:

• getting financial counselling
• using a debt management program, which involves a written agreement between you and the lender
• consolidating or refinancing your debts
• making a proposal to your creditors under Canada's bankruptcy laws
• as a last resort, declaring personal bankruptcy

• When You Can't Pay Your Debts, from the Canadian Bar Association BC Branch, outlines these and other options for dealing with debt.
• Debt Help, from Credit Counselling Society, tells you about the options available to you to help manage your debt, including bankruptcy.
• Consumed by Debt?, from the Office of the Superintendent of Bankruptcy Canada, outlines your options when you are facing a debt problem, and explains that Licenced Insolvency Trustees (LITs) are the only qualified professionals authorized to administer insolvency proceedings.
• Consumer Law and Credit/Debt Law: A Guide for British Columbia, from the Legal Services Society, has detailed information for advocates about bankruptcy.

Need more help?

• Credit Counselling, from Credit Counselling Society, provide information and free, confidential appointments with a credit counsellor in a number of locations in BC or over the phone.
• Find more help near you on Clicklaw HelpMap.

See our related common questions:

• I am being harassed by debt collectors. Are they allowed to do that?
• I’ve missed a few mortgage payments and am facing foreclosure
• See all common questions about debt

tags

bankruptcy, debtor's rights & options, can't pay your debts, debtor's rights & options, broke, money problems