Debt Consolidation: How to Apply
A Simple, Supportive Guide to Debt Relief in Canada.
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What Is the First Step to Filing for Debt Consolidation?
The first step in filing for debt consolidation in Canada is to connect with a Licensed Insolvency Trustee (LIT).
At Spergel, your own LIT will review your financial situation and explain your options — whether that’s a debt consolidation loan, a consumer proposal, or another path to relief.
We’ll answer your questions, help you gather the right documents, and create a personalized plan — no judgment, no pressure. From there, we’ll guide you step-by-step toward a single affordable monthly payment, reduced interest, and peace of mind.
Your Path to Simpler Payments Begins Here
Use our Debt Calculator to estimate how much you can save by consolidating your debt. It’s quick and easy.
Finding the Right Path Forward
Debt consolidation can be a helpful solution — but it’s not the only one.
While it works well for many Canadians, other options like consumer proposals, credit counselling, or even bankruptcy may offer more lasting relief depending on your situation. At Spergel, our Licensed Insolvency Trustees take the time to walk you through all your choices — not just one — so you can make the decision that’s best for you and your financial future.
step-by-step
How to Apply for Debt Consolidation
There are some key steps in filing in Ontario:
Review Your Finances
Make a list of all your debts, interest rates, and monthly payments to understand the full picture. This helps your Licensed Insolvency Trustee recommend the best debt consolidation solution.
Book Your Free Consultation
You’ll meet with your own Trustee (not a call center). We’ll discuss your debts, income, and goals — and explain the pros and cons of your consolidation options.
Choose a Debt Relief Option
Whether it’s a debt consolidation loan, a consumer proposal, or a budgeting plan, we’ll walk you through it all and recommend what fits best.
We File the Paperwork
We’ll handle all the formal steps, whether that’s preparing a proposal or helping you apply for a loan — so you can focus on your next chapter.
Consolidate Your Payments
You’ll make one manageable monthly payment — often interest-free — instead of juggling multiple bills. We’ll help you track your progress.
Start Feeling the Relief
Once you file, calls from creditors stop. You’ll know exactly what to expect and finally feel in control again.
Still Have Questions?
Book a free consultation with Spergel today, and we will calculate a payment plan for you to get started.
next step
How Do I Get Started?
The first and most important step is to speak to a Licensed Insolvency Trustee.
Licensed Insolvency Trustees (LITs) are the only professionals in Canada legally able to file all forms of debt relief. At Spergel, our experienced LITs offer:
- Free consultations
- As many meetings as you need
- A full review of your financial situation and tailored options
- Affordable debt relief solutions
- A 99% acceptance rate on consumer proposals we file
Everyone’s Situation is Different. Let’s Talk About You.
Book a free call with Spergel today, and we’ll create a plan that’s right for your life.
Real Canadians. Real Success — Like Chelsey
“I am immensely grateful to the Spergel team for guiding me through a challenging financial crisis with empathy and expertise. From negotiating with my creditors to providing emotional support and financial education, Spergel transformed my situation from imminent bankruptcy to renewed stability. Spergel is not just a service; they are partners committed to empowering individuals through complex financial journeys, and boy, was mine complex.”
– Chelsey B., British Columbia
Chelsey's Story is just one of many
It shows that once you face your debt and get the right help, life can get better – quickly. Discover more Success Stories of Canadians we’ve helped, or reach out to us.
How We’ve Helped Others
Every debt story is different — and so is every solution. Here’s what real clients had to say about working with Spergel.
Let’s Explore What’s Possible — Together
You’ve carried this burden long enough. It’s time to talk through your options with someone who truly understands.
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When you call, you will be connected with one of our Licensed Insolvency Trustees (LITs) during our regular business hours.
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From your phone, you will be connected with one of our Licensed Insolvency Trustees (LITs) during our regular business hours.
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Saturday 9am – 4pm EST
Sunday 10am – 5pm EST
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