Debt consolidation in Winnipeg

Explore a range of options to become debt-free, from debt consolidation, consumer proposals to bankruptcy.
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Are you looking to speak to someone about debt consolidation in Winnipeg?

Many people think that the only debt solutions available to them are either debt consolidation loans or filing for bankruptcy. Our team can help you understand the full range of debt recovery programs that are available to you.  

Let us help you find relief from financial stress. We take the time to listen to your story before offering a solution. Our team of Licensed Insolvency Trustees are the best resource to turn to for exploring all your debt relief options. 

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Our Winnipeg office:

BDO Debt Solutions - Winnipeg


201 Portage Ave

26th Floor

Winnipeg, Manitoba

R3B 3K6


Phone: +1 204-944-4444   







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What can a Licensed Insolvency Trustee do that others can’t?

There are some debt relief programs that only a Licensed Insolvency Trustee can legally file on your behalf, like consumer proposals and bankruptcy. Both are debt reduction programs that reduce the amount of money you have to pay back, as well as lower your monthly payments. 

Licensed Insolvency Trustees are financial professionals who have expertise in helping people get out of debt. They’re regulated by the Canadian federal government and are ethically bound to act only in your best interest.

A man wonders if his debt will simply expire on its own

Does debt expire?

A statute of limitations on debt is a legal regulation that specifies the maximum timeframe when a creditor can initiate legal proceedings against you for non-payment of debt.

The point when it becomes too late for your creditors to sue you for the debt varies across Canada. Follow the link below to see what the statute of limitations is where you live.

Learn more

How we've helped

Our clients say it best. Hear from people we've helped about their financial recovery journey and their experiences with BDO.

I received my discharge certificate today. What a liberating feeling. I have been struggling with my finances for over a decade and I finally see the light at the end of the tunnel. I still have a long hard hill to climb to rebuild and repair the damage that has been done. But I am ready and prepared to take all the steps necessary. I wanted to reach out and say thank you, and not just a thank you for doing your job, but a heartfelt thank you. This is one of the hardest things I have had to do; it took a massive hit to my pride and I felt like a failure. You were always so kind and supportive, as well as firm when need be! It was an absolute pleasure to work with you. I suppose in your profession a success is not to have repeat customers (lol) and I intend to be one of those successes. Thank you again from the bottom of my heart and I wish you nothing but the best in life.



My husband and I, after some bad luck, had to declare bankruptcy. As this is probably one of the hardest things to go through, having pleasant and helpful people to guide you is paramount. BDO was there for me every step of the way. They are very knowledgeable and professional, while still being empathetic. The Administrator I worked with replied to my questions, either by phone or email, extremely quickly and clearly. Having her to communicate with through all this was very comforting for me. My husband and I would like to thank BDO Debt Solutions for getting us through this time in our lives.



The work on my file was performed admirably by my Administrator. Any issue was handled with efficiency and expediency, consequently I was grateful that whenever any issue arose I had no worries. However, I remain most grateful for the respectful communication. I had the unfortunate experience of being treated negatively by several agencies due to my status of undergoing bankruptcy. This is harmful and damaging to someone already undergoing great distress and loss. And so, for me the respect that every person is rightfully due was gratefully and noticeably appreciated. 

J. M.


From consultation to resolution, my BDO Licensed Insolvency Trustee was supportive, informative and highly professional. I felt heard and understood with no judgment. Dealing with debt is very stressful. She helped me remain calm and guided me through the process while being available to answer all of my questions. To anyone struggling with debt, I would recommend reaching out to BDO. They will be there for you every step of the way. 



BDO guided me through a difficult time in my life, step by step, with all of the information I needed to make informed decisions about my financial situation. Bankruptcy is a stressful experience, but BDO provided the information I needed to get things back on track, answering all my questions along the way. I’m in a much better financial situation now and have learned new skills to better manage my money.



My Licensed Insolvency Trustee and her team were compassionate and understanding of my situation and helped create a solution that worked for me. BDO as a whole offered great resources to understanding my options, and their national reach allowed me to connect with a local office after moving so I didn't have to travel hours for in-person meetings when needed. Overall I'm elated to have chosen to work with BDO.




What is debt consolidation and how does it help?
Debt consolidation is a great tool for simplifying debt repayment. Consolidating your debt means combining all your bills into one monthly payment. It also typically saves you money on interest charges as well.

Debt consolidation can be difficult for people with a low credit score to be approved for though. Debt consolidation relies on the person being able to pay on time and in full each month.
Does debt consolidation lower your debt?
While debt consolidation makes keeping track of your financial obligations easier and can save you money on interest payments, it does not lower the amount of money you have to pay back. Only consumer proposal or bankruptcy can lower your overall debt level and reduce how much money you need to pay back.
How does a consumer proposal work?
A consumer proposal is a debt reduction plan administered by a Licensed Insolvency Trustee who renegotiates your debt with your creditors. In some cases, a Trustee can reduce your unsecured debts, from around 30-80%, and provide a great deal of relief from debt, automatically lowering your monthly debt repayment.

Consumer proposals also stop legal action being taken against you and stop debt collectors from calling you. A consumer proposal can only be filed on your behalf by a Licensed Insolvency Trustee.
How much debt do you need for a consumer proposal?
To qualify for a consumer proposal, you must have at least $1,000 worth of debt that is unsecured. Unsecured debt is debt not backed by an asset and includes things like credit cards, student loans, payday loans and personal loans.

Secured debt includes things like your mortgage or car payments. These cannot be included as part of a consumer proposal. Your debt also cannot be more than $250,000 in order to qualify for a consumer proposal.
How do consumer proposals and bankruptcy differ?
Both consumer proposals and bankruptcy are effective solutions for high levels of debt but have many differences. Consumer Proposals allow you to keep all your assets while you pay back a portion of your debt.

Declaring bankruptcy will release you from almost all of your debts but can require you to surrender assets. Only a Licensed Insolvency Trustee can file a consumer proposal or bankruptcy on your behalf.
What happens when a consumer proposal is not accepted?
If a consumer proposal is not accepted it does not mean you cannot get one. It is possible to redo the terms of the proposal and resubmit it to your creditors. It often means increasing the monthly payments or extending the repayment period. There are other options as well, such as filing for bankruptcy.

It is rare that a proposal is not accepted. Our team takes the time to fully assess your financial situation and will only submit a proposal if they believe it will be accepted by your creditors.
What happens when you declare bankruptcy?
In bankruptcy you are released from most, and in some cases, all of your debts. You may need to sell some assets as part of the bankruptcy but there are many exemptions that often allow you to keep your car and your home. The vast majority of homeowners who declare bankruptcy keep their home.

A first-time bankruptcy can last anywhere between 9 to 21 months, depending on the circumstances, like your income. Bankruptcy will erase all your unsecured debts and is only used as a last resort. Many people think they need to declare bankruptcy but discover a consumer proposal can be used instead.

If you do have to declare bankruptcy though your Licensed Insolvency Trustee will be there to guide you through the whole process.
Can you get a loan after bankruptcy?
Yes, it is possible to rebuild your credit after a bankruptcy and be approved for loans in the future. There are ways to help build credit right away after beginning the bankruptcy process, such as using a secured credit card.

A secured credit card is a credit card attached to a security deposit you make. If you put a deposit of $500 in, you have a $500 limit on the credit card. Using a secured credit card responsibly and making payments on bills on time and in full will begin to rebuild your credit score.

Another way to rebuild credit is to pay all your bills on time and in full. Utility bills, phone bills, every bill. Doing so will improve your credit score over time. Be patient though, building credit is a lifelong process and does not happen quickly. Speaking to your Licensed Insolvency Trustee about ways to build credit can help ensure you’re taking the right steps.

Why our clients choose BDO?

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Judgement-free advice

Talking about debt can be intimidating, so we ensure you feel supported every step of the way.

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Solutions tailored for you

We take the time to explore all debt relief options, so you can choose the best one for you.

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Helping Canadians since 1958

With 140+ offices and 60+ years of experience, we're ready to help in your local community.