Canadian Debt Relief Quiz: Consumer Proposal vs Bankruptcy

🛡️ Canadian Debt Evaluation Notice: This 2-minute self-assessment applies federal standards under the Bankruptcy and Insolvency Act (BIA) and provincial execution limits. Only a registered Licensed Insolvency Trustee (LIT) can officially confirm eligibility and file legally binding debt relief proceedings.

Step 1 of 4

1. What is your total estimated unsecured debt?

Include credit cards, CRA tax arrears, personal loans, lines of credit, and payday loans (exclude your home mortgage).

Under $10,000 Low-to-moderate credit card or personal loan balances. $10,000 – $250,000 Qualifies for standard Consumer Proposal debt reduction. $250,000 or More High debt volume requiring Division I Proposal or Bankruptcy.

2. What province or territory do you live in?

Asset exemption thresholds (house, car, furniture) are enforced under provincial execution acts.

3. What is your primary financial goal?

Select the outcome that is most critical to your peace of mind right now.

Stop CRA / Bank Garnishment & Lawsuits Freeze interest and trigger immediate legal protection. Protect My House, Car & Savings Settle debts without surrendering property or equity. Lower Monthly Payments & Eliminate Interest Combine debts into one manageable, interest-free payment.

4. What is your primary debt type?

Different debt categories have specific discharge rules under Canadian law.

Credit Cards & Unsecured Bank Loans High-interest revolving lines, loans, and store cards. CRA Tax Debt & Government Arrears Personal income tax, GST/HST debt, or CERB/CRB repayments. Government Student Loans Canada Student Loans or provincial student debt.

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Debt Relief Assessment: Find Your Path in 2 Minutes

1. What is your total estimated unsecured debt?

2. What province or territory do you live in?

3. What is your primary financial goal?

4. What is your primary debt type?

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