Feb 9, 2026
Helping someone you care about with money is tricky. You want to guide and support them, but you also know the clock is ticking on your own bills and loans. That’s the situation one Redditor found herself in while trying to help her partner figure out what to do about serious debt. He is 37 years old, has raised two kids alone and carries multiple balances that together make it hard to breathe financially.
In the post, redditor u/photogsly laid out the numbers (1): her partner owes roughly $15,000 on a PC credit card, $14,000 on a Scotia Visa, $15,000 on a line of credit and about $60,000 left on a truck with a $1,100 monthly payment. He brings in about $2,800 every two weeks but still struggles with minimum payments and budgeting. She is almost ready to buy another house and handles their finances because he “doesn’t understand money” and avoids detailed budgeting discussions.
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She’s now considering a consumer proposal, but is unsure if that’s the right move.
Why more Canadians are turning to consumer proposals
Consumer proposals in Canada have become a mainstream debt-relief option. They are formal agreements between a debtor and their unsecured creditors to repay part of what is owed over up to five years under terms that are legally binding once accepted. A Licensed Insolvency Trustee helps prepare and negotiate the offer. In many cases, interest stops and collection calls end once the proposal is filed.
According to industry data (2), about 79% of consumer insolvency filings in 2024 were consumer proposals, with only 21% being bankruptcies. A Licensed Insolvency Trustee quoted by CAIRP (3) says debtors often prefer proposals because they allow people to keep assets such as homes and vehicles and offer repayment plans instead of the more drastic effects of bankruptcy.
Independent debt advisory sites and the Office of the Superintendent of Bankruptcy (4) report that consumer proposals have historically shown a 70% to 80% success rate, depending on how well the terms are structured and adhered to.
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One household’s stress, a national trend
This isn’t just one household’s struggle. Across Canada, debt levels are high and creeping higher. According to Equifax Canada’s latest consumer credit market pulse report (5), the average non-mortgage debt per consumer was about $21,931 at the end of 2024. That includes credit cards, lines of credit and personal loans which still make up around three quarters of total consumer debt.
Other figures show Canada’s total consumer debt bush past $2.5 trillion, with debt growing faster than income for many households. One macroeconomic indicator (6) called the debt-to-income ratio for households in Canada has hovered well above 170%, meaning on average Canadians owe about $1.70 for each dollar of disposable income.
These pressures have shown up in the insolvency numbers. Consumer insolvencies rose year-over-year in the first months of 2025 by several percentage points (7) reflecting continued financial strain among Canadians.
Fellow Canadians weigh in
The post on reddit garnered lots of opinions on what u/photogsly should do. There was no shortage of advice.
The responses were mixed practical advice with blunt reality checks. Many commenters argued the problem was not a lack of options but a pattern of spending that no financial product could fix on its own.
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“He makes good money, but he made a dumb decision with buying a truck, and you know that there's a bunch of other dumb spending decisions happening,” wrote u/SallyRhubarb. “The problem is that he probably got used to living well beyond his means to accumulate the debt, and now he has to get used to living well below his means to pay back his debt.”
Several commenters focused on how interest alone may be quietly draining his income. “Based on 21.99 rate for most consumer cards… he's probably at about 500/month in credit card interest,” said u/MindoftheLost. “With the loans and lines of credit... he could be looking at paying his rent in interest. That's almost 20% of his take home in interest a month.”
That same commenter added that while a Licensed Insolvency Trustee consultation could be an eye-opener, it wouldn’t solve the underlying issue. “It really sounds like he's capable of paying the debt, he is just not capable of managing his spending.”
Others warned that consolidation without behavioural change often makes things worse. “It sounds like what he wants is more debt to finance more hobbies,” u/MindoftheLost wrote.
Several commenters were firm about cutting off access to revolving credit altogether. “You need to restrict him from using more revolving credit,” said u/WhyPineapplesOnPizza. “Obviously, he looks at credit as free money.”
The truck loan came up repeatedly as a major pressure point. “Give up that truck,” u/WhyPineapplesOnPizza added. “I live in the north too and I have colleagues in SUVs with AWD and reliable winter tires.”
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One commenter with dealership experience suggested focusing narrowly on credit score mechanics before pursuing consolidation, while acknowledging the risk. “What will sound counterintuitive is to get his credit limits raised if possible on the cards,” wrote u/time_Engineering3091. “DO NOT USE THIS extra credit, but use it to get him under the 80% credit utilization per card… 650 is the limit for car loans being only sub prime.” That commenter conceded, “He will probably use it. It is a risk.”
Some responses shifted from finances to personal risk, urging the original poster to think about her own future. “Be very careful how long you stay in this relationship,” warned u/Tls-user. “If he doesn’t get his finances in order, you may be responsible for paying support payments after you split.” The commenter added, “It sounds to me like you will be taking on his debt and giving him your savings.”
Others framed the issue around family priorities. “You could try drilling into his brain that every penny in interest is a dollar taken away from his kids,” wrote u/BelleUga25. “He absolutely needs to put his financial oxygen mask on first.”
Taken together, the thread’s message was clear and uncomfortable. Whether the solution is a consumer proposal tighter budgeting or selling assets, most commenters agreed that without meaningful lifestyle change and strict limits around credit use, any financial reset is likely to be temporary.
Read more: The ultra-rich are bailing on volatile stocks right now — these 4 shockproof assets are their new safe havens
Practical ways to help without risking yourself
If you’re in a situation like this, there are several approaches you can explore:
Talk to a Licensed Insolvency Trustee (free consultation)
A neutral professional can walk you through choices such as a consumer proposal or bankruptcy, helping figure out what makes sense for the long term.
Consider a consumer proposal
This can combine multiple unsecured debts into one manageable payment and stop interest charges. It works best if income can reliably cover the payments.
Get credit counselling or budgeting support
Non-profit counsellors can help build a spending plan and explore debt management options — often with less impact on credit than formal proposals.
Make a lifestyle and spending overhaul
Before taking on new loans, think about tightening up spending, sticking to cash or debit-first habits, and cutting back on non-essential purchases — advice many Redditors in similar situations recommended.
Sell or downsize big-ticket items
Letting go of a high-payment vehicle or other expensive assets can free up cash flow and make paying down debt faster and less stressful.
Finding balance between care and caution
Helping someone you love through debt is never straightforward. As u/photogsly’s story shows, even when intentions are good, the numbers can be overwhelming, and the emotional stakes high. A consumer proposal, tighter budgeting or selling costly assets can provide relief — but only if both partners commit to real change and clear boundaries.
Ultimately, supporting a partner financially shouldn’t mean sacrificing your own future. Knowing your limits, understanding your legal obligations and seeking professional guidance can turn a risky situation into a manageable one.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Reddit (1); Government of Canada (2, 7); CAIRP (3, 4); Wealth Professional (5, 6)
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Leslie Kennedy served as an editor at Thomson Reuters and for Star Media Group, followed by a number of years as a writer and editor and content manager in marketing communications, before returning to her editorial roots. She is a graduate of Humber College’s post-graduate journalism program and has been a professional writer and editor ever since.
