Struggling with debt in Ontario? This practical guide walks you through how to set clear financial goals, understand your legal debt relief options, and build a path toward lasting financial stability. Learn how Licensed Insolvency Trustees like the Litvack Group can help you take back control—step by step.

Many Ontarians struggle with high-interest debt and limited financial knowledge. This guide explores how financial literacy and federally regulated solutions—like consumer proposals and bankruptcy—can help you break free from the debt cycle.

Understanding the debt relief options available in Canada is crucial when it comes to selecting the right option for your financial situation. At the Litvack Group we specialize in helping individuals and families evaluate all debt relief options, to make an informed decision

Let’s be very clear: no amount of budgeting will solve unmanageable debt. If your income doesn’t cover your basic needs and minimum payments, you're likely in what's called a structural debt position, your debt is growing faster than you can pay it off.

Living under the weight of debt is stressful enough, facing relentless calls and threats from collection agencies only adds to the pressure. Fortunately, Ontarians have strong legal protections when it comes to dealing with debt collectors.

Surplus income is one of the most important and often misunderstood parts of bankruptcy in Canada. If your income exceeds the government’s threshold, you may face higher payments and a longer bankruptcy term. Understanding how surplus income works, and how it compares to a consumer proposal, can help you choose the best path toward financial stability.