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Debt Counselling

Debt Management Plan

A real debt management plan that sees real relief and real results

You likely hear them advertised all the time on the internet and radio – “get debt free, call us about our debt management plan”. But what exactly is a debt management plan? Exactly what it sounds like: a plan to manage debt!

Companies of all different shapes and sizes claim to offer them – but how can you determine which one is right for you. A debt management plan should:

  1. Consider your personal circumstances and goals (both financial and non-financial).
  2. Keep in mind your assets and the things you don’t want to lose.
  3. Have a clear, legal and defined path to get out of debt.
  4. Immediately put a stop to interest accruing on your debts.
  5. Immediately put a stop to collection and enforcement action such as frozen accounts and wage garnishments.
  6. Should offer a clear path to rebuilding your credit – as quickly as possible.

Most of what has been described above can only be offered by a Licensed Insolvency Trustee (“LIT”). Many who purport to offer these services simply collect a fee but then inevitably refer you to an LIT. This is because a LIT is the only one who can immediately stop interest, collection and enforcement action across the board as it relates to your unsecured debt.

We also have the resources to be able to work your debt management plan through to fruition with regulated credit counsellors and programs to help you rebuild your credit and finances.

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  • Personal Bankruptcy and Consumer Proposal Specialists in Ottawa
  • About us . . . The expertise to resolve your debt crisis

    We are chartered professional accountants, licensed insolvency trustees and proposal administrators. With deep and substantial knowledge and experience in finance, accounting, taxation, bankruptcy and debt- restructuring, we can help you address and resolve your financial troubles. We can stop harassing phone calls, wage garnishments and collection law suits, while implementing a solution that addresses creditors’ concerns, with monthly payments you can afford. Book a free consultation today.

Related Articles from the Blog

August 1, 2017


A few things to keep in mind before committing to working with a non-licensed credit counsellor or debt consultant.

a) Unlike Licensed Insolvency Trustees (LIT), credit counsellors and debt consultants are unregulated. Anyone can call themselves a credit counsellor or a debt consultant. They are not subject to formal training or professional development standards.Read More

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