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Helping good people with bad debt

Canada's Trusted Network of Personal Bankruptcy Trustees

What is Personal Bankruptcy in Canada?

If your debt exceeds $1000 and you cannot pay, you can file for Personal Bankruptcy in Canada. A Bankruptcy Trustee can assist and help you clear your debts and get a fresh start.

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Allowing me to go with my life....
"I can't express how grateful I am to PBC for connecting me with one of their Trustees. Their sound advice, guidance and support helped to soften a harsh reality. They helped me negotiate a financial repayment plan that satisfied my creditors and allowed me to live within my means."
- Jennifer H.    Calgary AB
A caring group of trustees....
"It was like someone turned on the light. Not only were they non-judgmental, they were also friendly and easygoing. With their expertise and financial knowledge, we went from believing that we had to file bankruptcy, to completing a consumer proposal that allowed us to keep our home and our assets."
- Harold W.    Edmonton AB


Bankruptcy is one option for solving your debt problems. Although the word tends to give people the 'shivers', really. Canadians are fortunate to have such a facility. It exists to provide the honest debtor a chance for a fresh start. A personal bankruptcy provides the debtor legal protection from creditors, however, a bankruptcy may or may not be the next step for you. The best way to discover what your next step should be is to have an informal chat with a local trustee.
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Bankruptcy Trustee

Bankruptcy trustees are uniquely qualified to help people solve the tricky problem of unmanageable debt. There is a common myth that bankruptcy trustees only deal with personal bankruptcies but nothing could be further from the truth. They have access to a wide variety of resources and have extensive experience in helping people restructure debt. Their sole purpose is to enable you to get your financial affairs back on track. Personal Bankruptcy Canada can help you can help you find a local trustee in your province.
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Consumer Proposals

In many cases a consumer proposal is a viable alternative to personal bankruptcy, but you should know that the consumer proposal process can only be facilitated by a bankruptcy trustee. They do this by arranging and filing a proposal that includes a debt repayment plan that creditors vote to accept. Creditors will often approve a proposal because they are more likely to recover a larger percentage of the debt owed than if you went into bankruptcy. A proposal provides legal protection from your creditors and allows you to retain your assets.
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Credit Counselling

Credit counseling services are often run by non-profit organizations that offer free services, but there are for-profit companies that do charge fees and commissions so it's important to do your research. Similar to debt consolidation, credit counseling services do not provide legal protection from your creditors, that is only possible via personal bankruptcy or consumer proposal. Services may include one-to-one counseling on how to create a budget, using credit wisely and how to improve your credit score and credit report. Frequently, this type of counseling is accompanied by a Debt Management Program (DMP).
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Debt Consolidation

At it's simplest, debt consolidation is essentially taking out one loan as a way of paying off a number of others. It enables you to simplify the process of paying down debt, often at a lower rate. Unfortunately, it provides no legal protection against your creditors and doesn't actually erase your debt, it simply restructures the way you pay it. Often, the new loan is secured against an asset (such as a house) which acts as collateral. Typically if the new loan is collateralized, a lower interest rate is possible because the creditor's risk has been reduced.
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Wage Garnishment

A wage garnishment is a legal order that creditors can obtain via court order to force your employer to make payments out of your pay toward a debt that is owed. There are only a few instances where a garnishment can be used without a court order - if you owe back taxes to Revenue Canada or have given an assignment of wage to a credit union. There are only three ways to stop a wage garnishment; pay off the debt; file a consumer proposal or file for personal bankruptcy.
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Somehow You Got Here

There are all sorts of reasons why you could be here. Chances are your debt has got out of hand in some way. You may be surprised how common this problem is. It's the reason why the Canadian government created the role of the licensed Bankruptcy Trustee. They are a special class of financial professional - specifically trained to help 'Good People Deal With Bad Debt'. A licensed trustee is able to provide you with debt solutions that offer legal protection from your creditors. No other debt professional can offer you this.

Many of our clients tell us that prior to coming to see us their debt management had been a delicate balance, then something happened that tipped them over into crisis. A 'debt crisis' often happens as a result of the unforeseen - job loss, serious illness, a relationship breakup.

So don't feel ashamed if this sounds like you - it's far more common than you would guess. 'Job one' for you is - don't allow a crisis to turn into a catastrophe. Stop banging your head against that brick wall - get help to assess your situation, receive unbiased professional advice and find a way to deal with the debt. As the old adage goes - it's only too late if you don't start now.

Personal bankruptcy is one way of dealing with unmanageable debt but it may not be the best option for you. We can help you explore what your next step should be. Your finances might be 'broken' but you are not. You can turn this around and that's what we specialize in.

Dealing With Your Debt

Certainly credit counseling and debt consolidation are options for dealing with debt, but whether they are suitable is entirely dependent upon the size and nature of the debts you have. These services provide no legal protection for you. If any of your creditors decide the process is taking too long, or is not working out too well for them, they can take you to court.

Bankruptcy Trustees are the only professionals licensed by the Canadian government to assess people's financial situation and provide legal protection from creditors. They do this by filing a consumer proposal or personal bankruptcy on your behalf.

You may think that no one knows what you are going through - but your experience is more common than you might realize. The PBC network of trustees has helped thousands of people - just like you - to get back in control of their financial future.

The most logical and straightforward way to deal with problem debt is to reduce your expenses and vigorously pay down debt. But sometimes there is too much month left after all the money is gone and then what? Debt is a solvable problem - get professional advice today. Call a trustee today, the initial consultation is free with no obligation.


Debt has become such integral part of everyday life that most people have given up on becoming 'debt-free'. They only strive to hold a 'manageable amount' of debt, but when that doesn't work and debt gets uncontrollable, unmanageable, then there are problems.

At every turn we are told to spend, buy, purchase, no-money down, 0% interest rate - we are literally bombarded with messages that are carefully designed to persuade us to spend money. Sometimes it's money we don't have, or money that we do have but should be saving.

Rarely do we see cleverly designed messages about saving, not spending, holding onto your money - those message are few and far between in our society. It's part of the reason why we Canadians are carrying so much personal debt - we get lots of encouragement to spend and very little about the need to save.

The Honest Debtor

Canadian bankruptcy laws were specifically designed to protect the honest debtor. They offer people who have accumulated too much debt an opportunity for a fresh start. No matter what feelings you have right now about your situation, decide one thing - to do something. Call up a licensed bankruptcy trustee in your area. It may be the single most important decision you can make right now.

The average Canadian's non-mortgage debt reached $26,221 this year, which is the highest level recorded since records began in 2004. So you are not alone - but that does not mean you can relax. High levels of personal debt leave a person vulnerable to life events that 'tip' them over into uncontrollable debt. It can be a fine line between manageable and unmanageable debt. Losing a job, illness, a divorce or relationship break up, a rise in mortgage interest rates and any number of other unexpected events can land people into trouble with their creditors.

Bankruptcy is only one of the options for dealing with out-of-control debt. There are other ways of solving the problem. A Consumer Proposal is a popular way to pay down debt, while still having legal protection from creditors. Bear in mind that Trustees are the only professionals licensed by the government to administer personal bankruptcies and consumer proposals. Call one today.

It's Only Too Late If Don't Start Now

Life circumstances can change quickly and you may be left wondering who you can turn to. Where can you find a sympathetic ear who will not judge you? Personal Bankruptcy Canada (PBC) represents a network of highly experienced and sympathetic professionals who will carefully assess your situation and help you solve your debt problems. Many of our clients state that the process of taking control of their debt was an empowering (and surprisingly positive) experience.

At the top of this page you will find a link for 'Trustees'. Follow that link to find a professional trustee near you. You have nothing to lose, the initial consultation is free with no obligation. Take the next step and call today.

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Personal Bankruptcy Canada
Canada's Trusted Network of Personal Bankruptcy Trustees
1000 9 Ave SW, Suite 100
Calgary,  AB   T2P 2Y6
Personal Bankruptcy Trustees