Debt Management

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As a Licensed Insolvency Trustee, Dana MacRae offers debt help in Ontario with debt management and repayment. Please see some of the most common solutions for debt management below.

Struggling with Debt

If you find yourself struggling with debt and need debt help in Ontario, you’re in the right place. Many people wrongfully assume that when their debt gets out of control they need to file for bankruptcy. However, there are other ways to manage your debt without resorting to bankruptcy. Bankruptcy is a serious decision that has many financial implications and should be avoided if possible.


You don’t need to suffer or stress out alone. There are several mecanisms stablished to help you to avoid declaring bankruptcy. With the help of a Licensed Insolvency Trustee, you can determine which of the several alternatives is best from your situation. We can help you to get your debt under control, and guide you to a healthy and stress-free financial life.

Here are some of the alternatives to declaring bankruptcy with the help of our Debt Management services available all across Ontario:

Consumer Proposal

Depending on the amount of debt you have, a consumer proposal may be an alternative to bankruptcy. When you file a consumer proposal, your creditors will accept repayment of less than the full amount of debt you owe and additionally, will not allow interest on your loans to accumulate. Consumer proposal is designed to work with your personal financial situation to help prevent you from filing for bankruptcy.

Debt Consolidation

Another alternative to bankruptcy is called debt consolidation. Just as the name implies, debt consolidation groups all of your debts into a single payment. This will still allow you to pay off multiple creditors but often will ensure your interest rate is lower. Debt consolidation also gives you relief from the overwhelming feeling of being chased by many creditors. Financial institutions will give you a debt consolidation loan based on a number of factors like job stability, amount of debt owed and credit rating.

Informal Debt Settlement

An informal debt settlement is similar to debt consolidation. With this type of debt management, you will need to present your creditors with a realistic proposal of how you can pay them back. You will need to be honest about your financial situation and give a reasonable timeline for paying off your debt. Creditors will usually negotiate with you.

If you want to learn more about how to get out of debt and any of the above debt management solutions, please contact us today. We can also give you more information about filing for bankruptcy and the financial implications of doing so. We will provide you with debt management advice absolutely free of charge!

We can help get your credit card debt under control again.

Debt Management Advice Absolutely
Free of Charge!

Call for a free and confidential consultation at


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