- Help Center
- Debt Repayment Options
- Informal Agreement with Creditors
-
Consumer Proposals
-
Personal Bankruptcy
-
Debt Repayment Options
- Do Nothing
- Debt Consolidation Loan
- Informal Agreement with Creditors
- Debt Management Program (DMP) - Offered through Credit Counselling Society
- Orderly Payment of Debts (OPD) - Offered through Money Mentors
- Consumer Proposal (debts less than $250,000, excluding principal residence mortgage)
- Division I Proposal (debts over $250,000, excluding principal residence mortgage)
- Bankruptcy
When is an informal agreement with creditors not a viable option?
There are 2 instances where having an informal agreement with creditors is not viable.
- If there is no prospect of repaying the amount of debt you have.
- If you have numerous institutions to negotiate with.