Nobody enjoys being late on bill payments. But unfortunately, it's not always possible to make ends meet. Anyone who has ever been in a position where they're forced to choose between basic necessities and keeping up with their debts understands just how stressful this is. And it only gets worse when creditors begin calling and sending past due notices.
Whether you're worried about impending collections activity or already going through it, understanding how the process works, what your rights are and to make it stop will be critical to maintaining your financial, emotional and mental wellbeing.
A typical scenario of not paying a bill will eventually lead the debt being passed on to a third-party collections agent. These professionals are usually only paid once they have collected from you, so they are known to be extremely persistent. This is most debtors' worst-case scenario. Debt collectors are notorious for calling you at home and at work, sending threatening letters in the mail and doing everything they can to shame, annoy and force you into a position where you'll do anything to make them go away.
The good news is you can — if you know your rights. While the specific legislation differs from province to province, each jurisdiction has clear rules and regulations debt collectors must follow.
In situations where you just won’t be able to pay your debt there are two final options which are not only effective at silencing debt collectors for good, but also for getting you on the path to a financial fresh start. Both a Consumer Proposal and personal bankruptcy are legal processes administered by a Licensed Insolvency Trustee that will get you out of debt permanently. An added benefit is they immediately suspend all collections activity against you while you work through the proceedings.
Provided you continue meeting your outlined requirements, you will (hopefully) never hear from another debt collector again. Even better, all contact between you and your creditors will be handled by your Licensed Insolvency Trustee. So, you can worry less about managing their requests and more about building sound money management skills and re-organizing your life to enjoy a debt-free future.
If you know first hand just how overwhelming debt collections can be, it may be time to meet with a Licensed Insolvency Trustee for a Free Confidential Consultation. Together, you can discuss whether a Life-Changing Debt Solution may be right for you. Going through your financial history to determine your options, they will help you decide which path is best given your unique circumstances.
Subscribe to MNP 3 Minute Debt Break on your favourite streaming service.
 |
 |
 |
 |
 |
 |
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.
2025-09-02
Debt Solutions Lifestyle Debt 3 Minute Debt Break podcast
With rising inflation, increasing housing costs, and mounting daily expenses, many Canadians are finding that their paychecks no longer allow them to live as comfortably as they once did. Whether you're trying to pay off debt, save for a rainy day, or enjoy greater financial freedom, one option to consider is a side hustle.
