Debt Management Program

A debt management program is a voluntary repayment program that combines all of your debt into one payment and gives you 60 months or less to pay your debt back at a lower interest rate. Debt Management programs typically get you zero percent interest but some creditors in Canada still continue to charge you interest.

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Consumer Proposal

A consumer proposal is a repayment program that is filed under the BIA and generally allows you to reduce the amount of debt you have to pay back. As well, a consumer proposal allows you 60 months or less to pay the settled amount. It is a great alternative to Bankruptcy and, on average, sees your debt reduced by about 51%.

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Bankruptcy is the last resort when dealing with your debt. However, if bankruptcy is the options that is right for you, you will need to contact a licenced insolvency trustee to complete the process. Bankruptcy can handle all of your unsecured debt but does not handle secured debts such as vehicle loans or mortgages.

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Full Debt Assessment

The full debt assessment is designed to show you all of your options in one simple assessment. Once completed you will be able to look at payment amounts from all of the calculators at the same time. Review and compare payments for consumer proposals, debt management, high interest loans, low interest loans and bankruptcy.

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Debt Consolidation Loans

Low Interest Loan

A loan through a financial institution, such as your bank, is typically the best way to consolidate your debt as it would have the least amount of impact on your credit. With that said, loans through your financial institution are becoming more and more difficult to aquire as the banks tighten up on their lending criteria.

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High Interest Loan

A high interest loan is through an organization outside of the typical banking system. These companies offer loans to individuals that cannot qualify for a loan through a bank for what ever reason. High interest loans typically start at 28.8% interest and can go as high as 49% depending on your credit score and other varying factors.

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Other Calculators


This calculator is designed to show you what you can realistically pay towards your debt each month. A good tool to use after you look a the repayment options as it will show you what debt repayment program will fit in your budget.

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Mortgage Calculator

Calculate what your mortgage payment would be.

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