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Consumed by debt? Information for consumers on the insolvency process
Having a personal financial crisis? This multilingual information guide from the Government of Canada was created to help guide you through this stressful time.
Some people will face a personal financial crisis, such as going into too much debt, at some point in their lives.
You may be able to solve some money problems yourself, but other times you need professional help. It could be a problem that became worse over time. Or it could have happened suddenly because of job loss, a serious illness, a marriage breakup or other major life event.
Whatever the cause, if you cannot pay your personal bills or debts, you have options.
In this resource, you will learn about:
- Recognizing the danger signals
- What is a Licensed Insolvency Trustee?
- Why file a consumer proposal?
- What happens to your credit rating if you file a proposal or declare bankruptcy?
- And so much more about this financial process.
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These files are in Adobe Acrobat format. You need the free Adobe Acrobat Reader to view these files.
Last updated:
May 4, 2026
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