Bankruptcy Canada - Alternatives to Bankruptcy - Options

Talk to your creditors in Canada and explain your difficulties; consider returning goods; try to negotiate smaller payments over a longer period of time.

Arrange a debt consolidation loan with your bank; the bank may charge a lower interest rate than credit cards and might accept lower payments.

Ask your employer to see if there is an assistance plan available to provide counselling for money management.

Access credit counselling services from your local community association.

Contact a bankruptcy trustee in Canada to discuss whether you may be able to:

1. make an informal arrangement or settlement with your creditors, or
   
   

2. make a proposal under the Canadian Bankruptcy and Insolvency Act.

These options are NOT bankruptcy.
There is no charge for a consultation with bankruptcy trustees listed on this web site.