Business & Personal Finance

The Office of the Superintendant of Bankruptcy Canada suggests the following as alternatives to bankruptcy:

• Rework your budget
• Consolidate your debts
• Call your creditors
• Use Your Assets

Failing these, some formal alternatives to bankruptcy include:

• Consumer Proposals
• Division I Proposals
• The Companies’ Creditors Arrangement Act

Try these books – for advice and support:

Remember, there is help! For example, Credit Canada is a registered Canadian charity that offers personal money management counselling by appointment, mediation between debtor and creditor, consumer debt repayment programs, consumer credit education, and more. 

To locate more organizations that offer services to debtors, check 211toronto.ca, an online directory of over 20,000 community, social, health and government services.