DEBT SOLUTIONS
Debt Management Plans
A Debt Management Plan allows you repay unsecured debt through one manageable monthly payment, often lower than your current minimum payments.
Instead of juggling multiple creditors and rising interest charges, we work with your creditors to create a structured repayment plan that fits your budget. In many cases, creditors agree to reduce or eliminate interest — often to as low as 0% — allowing more of your payment to go directly toward paying down your balance.
This can include debts such as credit cards, overdrafts, unsecured personal loans, unsecured lines of credit, payday loans, department store cards, old utility bills, and collection items.
Our credit counsellors review your full financial situation and help you determine whether a Debt Management Plan is the right option for you.
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Helping Canadians Become Debt Free Since 1991
UNDERSTANDING THE PROGRAM
What Is a Debt Management Plan?
A Debt Management Plan is a structured program that allows you to repay unsecured debt through a single monthly payment.
Your credit counsellor works with your creditors to combine your eligible debts into one payment that fits within your budget. Each month, you make your payment to the program, and we distribute the funds to your creditors on your behalf.
Because the plan is arranged with your creditors, your creditors will agree to reduce or eliminate interest to 0%. This allows more of your payment to go directly toward reducing the balance you owe.
Most Debt Management Plans are designed to repay 100% of the debt within five years, providing a clear and manageable path toward becoming debt free.
THE PROCESS
How a Debt Management Plan Works
The process begins with a free review of your financial situation and results in a structured plan that allows you to repay your debt through one manageable monthly payment.
Free Debt Assessment
We review your income, expenses, and debts to understand your full financial situation.
Create a Repayment Plan
If a Debt Management Plan fits your budget, we work with your creditors to arrange one affordable monthly payment.
Interest Will Be Reduced
Your creditors will agree to reduce or eliminate interest to 0% so more of your payment goes toward your balance.
Make One Monthly Payment
You make one payment each month and we distribute it to your creditors on your behalf.
Become Debt Free
All plans are designed to repay your debt within five years.
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Debt Assessment
ELIGIBLE DEBTS
Debts That May Be Included in a Debt Management Plan
A Debt Management Plan is designed to help you repay most types of unsecured debt through one simplified monthly payment.
Credit Cards
High-interest credit card balances are one of the most common debts included in a Debt Management Plan.
Lines of Credit
Unsecured personal lines of credit can often be included in the repayment plan.
Personal Loans
Many unsecured personal loans can be incorporated into the program.
Collection Accounts
Debts that have already been sent to collections may still be included.
Other Unsecured Debts
Other unsecured obligations may also qualify depending on the creditor.
Wondering how long it will take to pay off your debt? Use our debt repayment calculator to see what it's costing you.Â
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WHO THIS IS FOR
Is a Debt Management Plan Right for You?
A Debt Management Plan may be a good option if you are struggling to keep up with multiple payments but still have the ability to repay your debt over time.
This type of plan is often suitable for people who:
- Have been declined for a consolidation loan through their bank
- Have a lower credit score
- Are overwhelmed by multiple credit card or loan payments
- Are paying large amounts of interest each month
- Want to simplify their finances with one monthly payment
- Want a structured path to becoming debt free
During your free assessment, we review your full financial situation and determine whether a Debt Management Plan fits comfortably within your budget.
If it does not, we will review other options and help guide you toward the next steps that may be available to you.
FREE FINANCIAL ASSESSMENT
Take the First Step Toward Financial Stability
If debt is becoming difficult to manage, a free financial assessment can help you understand your options and identify a realistic path forward.
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Debt Assessment
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Free consultation • No obligation • Completely confidential
Speak with a credit counsellor about your situation and learn what options may be available.