Lines of Credit Debt

Fact Checked

More than three million Canadians have home equity lines of credit, 35% of Generation Z Canadians plan to get a personal loan in 2025 and 13% of Canadians get personal loans to pay off their credit cards.

The number of people across the country turning to personal lines of credit to get by continues to rise.

While lines of credit can be a positive way to pay for an unexpected financial emergency or a high-cost item once every so often, it’s important to stay on top of the balance owed.

As thousands of people find themselves trapped making interest-only payments towards what they owe, it’s important to be aware of the support available if you find yourself in financial trouble.

The number of people across the country turning to personal lines of credit to get by continues to rise.

While lines of credit can be a positive way to pay for an unexpected financial emergency or a high-cost item once every so often, it’s important to stay on top of the balance owed.

As thousands of people find themselves trapped making interest-only payments towards what they owe, it’s important to be aware of the support available if you find yourself in financial trouble.

Write off up to 80% of your debt

We’ve helped thousands clear unaffordable debt. Speak with a debt expert today.

Personalized debt help
Licensed Insolvency Trustees
In-person, phone or video
75 offices across Canada

Check if you qualify

Frequently Asked Questions

What information do you need from me on the call?

We’ll ask you about your income and outgoings, as well as who you owe money to, so that we can get the full picture, and give you the best possible advice to find a solution that’ll save you money, and make life much easier!

What if I don’t have all the information you need?

It’s okay, we can still help. If you’re not sure of all the people you owe money to, or you haven’t got an exact amount for each payment, we can discuss this, or suggest steps you can take to get us the information while you’re on the call.

How much will it cost me to get advice from you?

You won’t pay anything for the advice our debt specialists give you on the call. If you do qualify for a debt solution, the fees will be taken from the monthly amount you pay to your creditors. Everything’s covered, and we don’t take any money upfront. The last thing we want is you getting further into debt.

How do you know which solution is best for me?

Our debt experts will take it step by step, so we can understand your concerns, and which of the available solutions would be the right fit for your situation. We’ll only proceed if you’re completely comfortable to go ahead.

I’m a bit nervous about speaking with someone about my debts

That’s completely understandable, but be reassured, we’ll do everything we can to put you at ease. We don’t use complicated jargon, and we treat every customer as an individual, taking their unique circumstances into consideration before sharing our impartial advice. There’s nothing we haven’t dealt with; we speak with hundreds of customers every single day. We’re here to have an open and honest chat and try to build a picture to see what help and support we can give you.

Other types of debt

How we can help you with your debt

You’re on your way to resolving your debt problems, this is what will happen next.

Fill out the form and arrange a call back with one of our debt experts.

We will then run through all of the options available to you and advise you on which is the best option for you.

We will then help you put the debt solution in place that will help you get back on track.