Make a list of your income and bills

Before you talk to anyone, you should make a list of all your bills and debts. You should also list your assets, and give an estimate of how much money you make. Your counsellor or trustee will need this information to help you plan how to repay your debt.

You should include all of your debts and bills, including:

• mortgages
• car loans
• student loans
• credit card debts
• lines of credit
• loans from family members
• bills you pay every month (phone, internet, hydro, etc.)
• taxes you owe
• any other money you owe

You should also list all your property and assets, including:

• money in bank accounts, tax free savings accounts (TFSAs), or investments
• loans that other people owe to you
• any houses, cars, or other property you own

You should bring copies of your financial information with you when you meet your counsellor or trustee. This information can include:

• your living expenses for things like groceries, rent, etc.
• your income, for example paystubs

You should also know:

• which bills have been paid
• which bills you’re late in paying
• the interest rates on debts you owe