Line of Credit Debt Relief
Supportive, practical help for when borrowing has gone too far.
Line of credit debt can feel invisible until the monthly interest starts adding up. If you’ve been relying on your line of credit to make ends meet or to cover emergencies, you’re not alone. At Spergel, we help Canadians take back control of their finances every day. Whether you’re managing revolving debt or struggling to keep up with minimum payments, we’ll walk you through your options, with no judgment and no pressure.
Signs Your Line of Credit Is Becoming Unmanageable
A line of credit can be a helpful tool, offering flexible borrowing when you need it most. But because it’s revolving and easy to access, it’s also easy to lose track of how much you owe. Over time, interest builds, payments increase, and it can feel like you’re always one step behind.
If you’re experiencing any of the signs below, it might be time to consider line of credit debt relief:
- You’re only making interest payments and your balance never goes down
- You’ve started using your line of credit to pay for essentials like groceries or bills
- You’ve opened a second line of credit or credit card to cover the first
- You feel stressed, overwhelmed, or anxious when thinking about your debt
Choose How You Connect With Us
We’ll work with you in the way that feels best to you.
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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 much debt relief you could get through a consumer proposal — it could reduce your debt by up to 80%.
debt help options
How Spergel Can Help You With Line of Credit Debt
Our Licensed Insolvency Trustees (LITs) have been helping Canadians resolve their debts — including overwhelming line of credit debt — for more than 35 years. Here are three trusted, effective solutions that can help:
Consumer Proposal
A consumer proposal is a formal agreement that allows you to repay a portion of what you owe (often up to 80% less) in one manageable monthly payment.
Details
It’s negotiated by a Licensed Insolvency Trustee and stops interest and collection calls. You keep your assets and get protection while you pay down your debt. Even if your line of credit balance is large or persistent, a consumer proposal can make repayment realistic and help you avoid bankruptcy.
Debt Consolidation
Debt consolidation allows you to combine your line of credit and other debts into one payment, ideally at a lower interest rate.
Details
It simplifies your payments and can help prevent your debt from growing, especially if you’ve been juggling multiple minimums. While it doesn’t reduce the total amount you owe, it can help you regain control and avoid missed payments or penalties.
Personal Bankruptcy
If your line of credit debt is unmanageable and other options aren’t feasible, personal bankruptcy can give you a fresh start.
Details
It legally clears most unsecured debts and protects you from further collection action with guidance from your own dedicated Licensed Insolvency Trustee. Bankruptcy also stops accumulating interest and wage garnishments, giving you the space to rebuild your finances without pressure.
Let’s Talk About What’s Right For You
Every situation is unique. That’s why we offer a free, no-obligation consultation. We’ll review your finances and explain your best line of credit debt relief options with clear, honest guidance.
There’s Always a Way to Break Free from Line of Credit Debt — Let’s Find Yours
Talk to a Spergel Licensed Insolvency Trustee today. We’ll walk through your financial situation, explain your line of credit debt relief options, and help you take the next step toward real, lasting peace of mind.
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 Line of Credit Debt Help?
The first step is simply talking to someone who understands your situation.
Only Licensed Insolvency Trustees are federally authorized to administer consumer proposals and bankruptcies: the two legal forms of line of credit debt relief in Canada. At Spergel, you’ll work with your own LIT from day one. We’ll review your finances, explain your options, and guide you toward the right solution.
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
Common Questions About Line of Credit Debt
Can line of credit debt be included in a consumer proposal?
Yes, unsecured lines of credit are eligible for inclusion in a consumer proposal, allowing you to reduce your balance and stop interest.
Will debt consolidation reduce what I owe?
No, but it can lower your interest and simplify your monthly payments, which makes your debt more manageable over time.
Can I keep using my line of credit during a debt solution?
If you file a consumer proposal or bankruptcy, your line of credit will be closed, but you’ll be able to rebuild credit over time.
How do I know which solution is best?
A Spergel Licensed Insolvency Trustee will walk you through your options and explain the pros and cons based on your exact situation.
What if I’ve already missed payments?
That’s okay. Even if you’ve fallen behind, we can still help you find a solution and stop further damage to your credit or finances.
Real Canadians. Real Success — Like John
“Working with Spergel was a complete game-changer. After falling victim to a fraud scheme and feeling completely lost in debt, I reached out to them for help. From the moment my phone call was answered I felt a sense of relief knowing that I had a team of experts on my side. They guided me through the entire process with patience and understanding, explaining all my options and helping me choose the best path forward. I never felt judged. Thanks to their expertise, I was able to navigate my financial challenges and regain control of my life. I can’t thank Spergel enough for their support and guidance — they truly changed my life for the better.”
– John, Ontario
John's story is just one of many
It shows that once you face your debt and get the right help, life can get better. Discover more Success Stories of Canadians we’ve helped, or reach out to us.
Can’t Pay Your Line of Credit Debt?
We’ll work with you to come up the best solution, so you can be well on your way to financial peace of mind.
Let’s Connect The Way That Works for You
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Find Debt Help Support Near You
With 40+ offices across Canada, getting debt relief for your line of credit is always within reach.