A well-deserved retirement can come with some surprises if you’re carrying debt.
We can help
It’s not unusual for people to get to their retirement owing an amount on their mortgage or on personal debt. In Quebec, 1 out of 8 people who file for bankruptcy is 65 years old or over, and pre-pandemic, this was the only age group with rising rates of insolvency. And if seniors don’t have a pension plan, they often must get part-time work to make ends meets and pay their debt related payments.
If a person is healthy with a relatively low amount of personal debt (credit cards, line of credit, personal loan, etc.), they may choose to work a part-time job long enough to complete the debt repayment plan that we can set up for them.
But, if they can’t work due to health issues or if they have too much personal debt or high interest rates, a consumer proposal or bankruptcy will be the best way for them to balance their budget over the long term. The effect on their credit rating is less important for them, because their future financing needs are much lower.
The sooner you have a clear picture of your personal finances and your options, the better your chances of pulling through.
Read real-life stories
Debt problems could happen to anyone. Read about people like you and see how they pulled through.
Our debt solutions
Based on your situation and needs, there are different solutions that can help you regain your financial stability.
Find out how to merge all your payments into one monthly installment and keep your credit score intact.
Discover how to offer your creditors a lower settlement based on your ability to repay.
Find out how bankruptcy will put an end to your financial difficulties by quickly unloading the weight of your debts.
Get a financial health checkup
With just a few questions, get an idea on the health of your personal finances. It’s easy and 100% confidential.