We'll help you consider all debt solutions

The first step is booking your free consultation.

Couple budgeting

Are you ready to start living debt-free?

We'll meet with you for a free, no-obligation consultation to assess your finances and explain all your options so that you can make an informed decision on the best path towards debt freedom.

Book a free consultation

We're committed to helping you find the right debt solution for your situation. We'll assess your finances and offer practical, judgement-free support as we explore every possible solution available to you.

Sometimes all you need is debt counselling or maybe some help building a budget. Other times you may need more immediate debt relief. No matter what your situation, we can help guide you through your debt problems, and find the best path forward.

Warning signs you may have too much debt

⚠️️ Making only the minimum payment required;
⚠️️ Using one credit card or credit line to pay off another;
⚠️️ Frequently paying bills after they’re due;
⚠️️ Skipping payments on some bills in order to pay others;
⚠️️ Using a credit card as a source of financing, rather than a convenience;
⚠️️ Exceeding borrowing limits on your credit cards, overdraft, or line of credit;
⚠️️️️ Using cash advances on one credit card to pay off another;
⚠️️ No money left by payday;
⚠️️ Asking your friends or family for loans;
⚠️️ Receiving calls from creditors or a collection agency;
⚠️️ Feeling stressed and anxious about your financial situation;
⚠️️ Having your telephone, electricity or other utilities cut off.

Worrying about debt is one of the first signs you may have too much

Many of our clients tell us the hardest part is realizing they have a debt problem and making the decision to reach out for help. Most of them also say they wish they'd reached out for help sooner. Having a plan in place and understanding your options is the best way to relieve the burden of debt stress and generally the earlier you reach out, the more options you'll have available to choose from.

A Licensed Insolvency Trustee (LIT) can explain all your options free of charge and with no obligation. It’s their mission to help people fix their debt problems. They are also the only debt professionals regulated by the federal government to administer a consumer proposal or bankruptcy.

If you are struggling to manage your debt, an LIT can offer confidential, one-on-one support on a wide range of debt solutions to help you find the best option to becoming debt-free.

Our clients say it best

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.



Over the years I dealt with BDO, I found them to be very understanding when personal affairs came up, very patient, great to work with. They gave me all the possible assistance and resources required to push through such a difficult time. Special thanks to the St. John's NL team for great personal and professional service. I would definitely recommend this group to handle and navigate your insolvency or proposal requirements.


St. John's

I wanted to tell you how this Proposal impacted my life. Even though my credit is low for a while, I feel great. I got a secured credit card this summer and have been using it and paying it. TransUnion credit score is up to 623 (it was in the 400s). Equifax is still in the 400s, but is slowing improving. I also have managed to save $30,000!!!! I have a plan to get a house in two and a half years. Thank you for everything you have done for me. I know I’m just a client but your work, kind words and sympathy saved me.



Exploring our debt solutions

First consultation with a professional Couple going over finances Bankruptcy proceedings

Debt counselling & consolidation

When you can afford to pay your debts with the right plan in place

Debt counselling & consolidation starts with a trusted advisor who can explain your debt relief options and ensure you understand how each one works. At BDO, our debt professionals and Licensed Insolvency Trustees (LIT) offer a free initial consultation that provides you with an overall assessment of your financial situation and outlines all your available debt relief options. For many debtors, this is the first step toward debt relief.

Consumer proposal

When you are able to repay some, but not all of your unsecured debt

A consumer proposal is a legally binding agreement regulated by the Office of the Superintendent of Bankruptcy. If you are facing financial challenges, you are within your rights to ask for debt forgiveness. If you are no longer able to pay back all of your debts, an LIT can reduce your debt load to a fraction of what you owe by negotiating with your creditors on your behalf.


When your debt is unmanageable and you can no longer keep up with your payments 

For people who need immediate relief from unmanageable debt, personal bankruptcy can be an important step towards financial recovery. However, it is always a last resort option. An LIT will only recommend bankruptcy after all other debt relief options have been explored.

What could your monthly payments look like?

Add up your debt from all sources (including credit cards, lines of credit, loans, etc.) and enter the total amounts below. Click 'Submit' to see how different solutions can affect your monthly payments and the total cost of repayment over the span of 5 years.

Type of debt
Based on estimated interest charges, here are four possible debt solutions with their respective monthly payments and total costs over the course of 5 years. Please note that these numbers will vary from person to person.
Monthly payments
Total cost of repayment
Repay debt on your own
Are you able to repay your debt on your own? If you're looking to pay it off in 5 years, your monthly payment will need to be . In total, you will spend .
Debt consolidation loan
If you have a good credit score and are able to qualify for a debt consolidation loan from your bank, you could repay your debt in 5 years with a monthly payment of . In total, you will pay .
Credit counselling
If your credit rating isn’t strong, your bank might not offer you a debt consolidation loan. You can explore credit counselling, where interest charges are frozen over the course of the repayment period. With this option, your monthly payment will be over five years. But you will have to repay the total amount of your debt
Consumer proposal
If you’re no longer able to pay back all of your debts, a Licensed Insolvency Trustee (LIT) can reduce your debt load by 30-80%. Based on a 70% reduction, your monthly payment will be only , and your total repayment amount will be .
woman working on budget

Let's put an end to your debt stress

We'll assess your finances and have a practical, judgement-free conversation about all your available options so that you have a plan to tackle your debt and can get a better night’s rest.

Book a free consultation

People experience financial problems for many reasons

Our clients often find themselves in financial trouble through no fault of their own. Unforeseen life events causing a sudden drop in income due to illness, death of a family member or divorce are all leading causes of financial difficulties and it's important to know that you are not alone. There's no shame in seeking help. We offer judgement-free support and can help tailor a plan to deal with debt from all sources, regardless of how you found your way into debt. 

Young father budgeting at home, concerned about finances

What happens during a free consultation?

1. An overall assessment of your finances.

2. A presentation of all your viable debt relief options.

3. No-pressure advice and support on next steps.

Our trustees will listen and provide personalized solutions that work for you. Read more about the process here.

“It’s not our job to judge. We have a duty to be caring and compassionate. It’s very rewarding for us to see the relief people feel after the initial consultation. It can be emotional, but also very therapeutic.”

– Jennifer McCracken, BDO LIT

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

Canadians helped across Canada

We'll find solutions to your debt problems

Talking about money can be uncomfortable & intimidating, which is often enough to prevent you from getting the help you need.

At BDO, we believe that judgement-free, compassionate support goes a long way to making that first step just a little bit easier. We know that debt problems can happen to anyone and there's no shame in seeking help.

Find your local office