Question 1

What are the main debt relief options in Canada?

Accepted Answer

Canadians have five main paths: DIY creditor negotiation, non-profit credit counselling, debt consolidation loans, consumer proposals filed by a Licensed Insolvency Trustee, and bankruptcy.

Question 2

What is a consumer proposal in Canada?

Accepted Answer

A legally binding offer to unsecured creditors filed only through a Licensed Insolvency Trustee. It typically reduces the balance owed, freezes interest, and stops collection actions.

Question 3

Does DebtDefender negotiate or settle debt?

Accepted Answer

No. DebtDefender is an independent Canadian debt information and tools site.

Canada's debt intelligence, in one hub.

Diagnostic Suite

The Canadian Debt Brief