Credit Card Debt Relief in Canada
With credit card limits increasing and a growing reliance on credit cards in daily life, it’s easy for credit card debt to spiral — and it can feel overwhelming.
With the average Canadian carrying over $31,000 in non-mortgage debt, including credit card balances, it’s easy to feel trapped in a cycle of interest charges and minimum payments. At Spergel, we’ve been helping Canadians find relief from credit card debt for over 35 years. Whether you’re barely keeping up with payments or already falling behind, we’re here with proven credit card debt relief options that are tailored to your situation — and your future.
How Do I Get Out of Credit Card Debt?
If you’re struggling with credit cards, know that there are real solutions. Every person’s path is different, and our team of Licensed Insolvency Trustees is here to walk you through your options with care and clarity.
These are the most common credit card debt relief programs in Canada:
- Paying off credit card debt yourself
- Negotiating with creditors
- Credit card debt consolidation
- Filing a consumer proposal
- Declaring personal bankruptcy
Each of these forms of credit card debt help is different when it comes to monthly payments and the subsequent effects on your credit report. Equally, each form of debt help will vary in timeframe, so it is important to consider what is most suitable for your situation. We’ll help you find what works best for your financial reality and goals.Each of these forms of credit card debt help is different when it comes to monthly payments and the subsequent effects on your credit report. Equally, each form of debt help will vary in timeframe, so it is important to consider what is most suitable for your situation.
Choose How You Connect With Us
We’ll work with you in the way that feels best to you.
Quick Contact Form
"*" indicates required fields
Book a Specific Date/Time
Call Us During Business Hours
When you call, you will be connected with one of our Licensed Insolvency Trustees (LITs) during our regular business hours.
Toll Free: 1-877-557-7367
Monday to Friday 8am – 7pm EST
Saturday 9am – 4pm EST
Sunday 10am – 5pm EST
You can also reach us at one of our office locations phone numbers. See our list below on this page.
Mobile Text Us During Business Hours
From your phone, you will be connected with one of our Licensed Insolvency Trustees (LITs) during our regular business hours.
Monday to Friday 8am – 7pm EST
Saturday 9am – 4pm EST
Sunday 10am – 5pm EST
Not during office hours? Use our Chat on this page 24/7 and get connected for answers and live chat later.
Email Us
Sometimes a simple email is the way to get things rolling.
Expect a reply from us during our business hours:
Monday to Friday 8am – 7pm EST
Saturday 9am – 4pm EST
Sunday 10am – 5pm EST
Click the button below to reach or use our email address:
hello@spergel.ca
How Much Could You Save?
Use our debt calculator to see how debt solutions like a consumer proposal could lower your payments.
debt help options
What Are My Debt Help Options?
Here are some of the primary forms of credit card debt help:
Paying Off Debt - By Yourself
If your debt is manageable and your income is steady, paying it off yourself could be a good first step.
Details
It requires careful budgeting, tracking your spending, and committing to paying more than the minimum balance to make real progress. You’ll want to prioritize high-interest cards first and consider balance transfers if available. This method has the least impact on your credit score, but it demands consistency and may not be realistic if your payments are already falling behind. If you find yourself relying on new credit to pay off old credit, it might be time to explore other options.
Consumer Proposal
A consumer proposal is one of the most powerful and widely used credit card debt relief options in Canada.
Details
It’s a legally binding agreement that allows you to pay only a portion of your debt — often up to 80% less — through affordable monthly payments, typically over five years or less. This solution is managed by a Licensed Insolvency Trustee, the only professional in Canada authorized to file a proposal. A major benefit is that it immediately protects you from collection calls, wage garnishment, and interest accumulation through a legal stay of proceedings. You also get to keep your assets, making it a popular alternative to bankruptcy.
Debt Negotiation
Debt negotiation involves contacting your credit card companies directly to request lower interest rates, waived fees, or a new payment plan.
Details
If you’re still current on your payments and have a fair credit history, lenders may be open to discussion — especially if you’re at risk of falling behind. This option can save money and reduce stress in the short term, but it’s not guaranteed. Creditors are not obligated to agree, and any missed payments or aggressive negotiation tactics could affect your credit rating. It’s always best to approach these conversations with a clear plan and realistic expectations.
Debt Consolidation
Credit card debt consolidation allows you to combine multiple credit card balances into one loan, usually at a lower interest rate.
Details
This makes repayment simpler, with just one monthly payment to manage instead of several. Depending on your credit score, you may qualify for a debt consolidation loan through a bank or financial institution. While this option won’t reduce the amount you owe, it can help lower interest charges and improve your financial organization. Just be aware that it requires discipline — continuing to use your credit cards after consolidation can result in even deeper debt.
Personal Bankruptcy
When other options no longer work or your income doesn’t allow for regular payments, personal bankruptcy may offer a clean break from overwhelming credit card debt.
Details
It’s a legal process that eliminates most unsecured debts in exchange for assigning non-exempt assets to your Licensed Insolvency Trustee, who then distributes the value to your creditors. Bankruptcy also stops all collection actions and offers peace of mind through legal protection. While it does impact your credit rating in the short term, most first-time bankruptcies are discharged in 9 to 21 months — giving you a chance to rebuild from a stronger, more stable place.
Let's Talk About What's Right For You
Let’s figure it out together — with zero pressure. Book a free consultation and talk to one of our experienced trustees.
Ready to Get Out of Debt? We Can Help You Get There — Guaranteed
Book a talk with a Spergel expert, and let’s figure out your next best move to become debt-free.
What Real People Are Saying
Read honest feedback from Canadians we’ve helped find relief, peace of mind, and a fresh financial start.
where to start
What's the First Step for Credit Card Debt Help?
Talk to a Licensed Insolvency Trustee near you.
Only LITs are legally authorized to administer formal debt relief options like consumer proposals and bankruptcy in Canada. At Spergel, you’ll work one-on-one with your own dedicated trustee, not be passed between departments. We’ll listen, clearly explain your options and guide you to a solution that truly works.
Everyone’s Situation is Different. Let’s Talk About You.
Book a free call with Spergel today, and we will make a plan with you on how to help.
General faq
Answers to your top questions about credit card debt
What is the best way to get credit card debt relief in Canada?
The best way to get relief depends on your financial situation, income, and how much debt you’re carrying. For some, budgeting or a consolidation loan may work. But if your credit card debt feels unmanageable, a consumer proposal — handled by a Licensed Insolvency Trustee — can reduce your debt by up to 80% while protecting your assets and stopping collection calls.
Will credit card debt relief hurt my credit score?
Some options, like a consumer proposal or bankruptcy, will impact your credit score temporarily — but continuing to miss payments or maxing out your cards will too. The good news is, once you’re on a formal repayment plan and the stress is under control, you can begin rebuilding your credit immediately with the right support.
Can credit card companies take legal action if I can’t pay?
Yes, if your credit card debt goes unpaid for too long, creditors may pursue legal action, including wage garnishment or frozen bank accounts. But formal solutions like a consumer proposal or bankruptcy create a legal “stay of proceedings” that immediately stops all collection efforts, giving you breathing room and peace of mind.
Is a consumer proposal better than a consolidation loan?
If your debt is growing or you’re falling behind on payments, a consumer proposal may be a better fit than a consolidation loan. While consolidation loans combine your debt, they don’t reduce it. A consumer proposal can lower your total debt and make your payments more affordable — without losing your home or assets.
How do I know if I need help with my credit card debt?
If you’re juggling multiple credit cards, struggling to make minimum payments, or relying on credit to cover essentials, it’s time to explore your options. The earlier you get help, the more solutions you’ll have available. Talking to a Licensed Insolvency Trustee doesn’t cost anything, and it could be the first step toward peace of mind.
Real Canadians. Real Success — Like Sarah
“In just three months, tracking my spending became a game-changer. I thought I was budgeting well, but the reality was eye-opening. Spergel helped me realize that the ‘small’ purchases were adding up. Thanks to their guidance, I saved $600 in just two months!”
– Sarah, Ontario
Sarah’s Story is just one of many
Sarah’s journey from budgeting confidence to financial awareness showcases the power of detailed spending tracking. Discover more Success Stories of Canadians we’ve helped, or reach out to us so we can help you.
Need Help with Your Credit Card Debt? We’re Here
Want to talk debt relief for credit card debt? Wondering how a consumer proposal affects your credit? We’ve got the answers and your options — and we’re always on your side.
Let's Connect The Way That Works for You
Busy Schedule? Book a Date/Time:
Prefer to Call? Reach Us Here (Toll Free):
Getting Debt Help Closer to Home Is Easy
Life is hard enough — getting debt help shouldn’t be. That’s why we’re located in over 40 locations across Canada.