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Credit Card Debt Relief in Alberta
When credit card payments leave little room for groceries, housing, and everyday expenses, it can be difficult to see a way forward. You may be keeping up with minimum payments while your balances barely change—or falling behind despite your best efforts.
Hudson & Company helps Albertans understand their credit card debt relief options. Our Licensed Insolvency Trustees will review your situation, explain the choices available, and help you decide on your next steps.
With over 30 years of experience and thousands of Albertans helped, we understand that every financial situation is different. Your first conversation is free and confidential.
Call (403) 265-4357 or request a free consultation.
Struggling to keep up with credit card payments?
Credit card debt can build gradually or follow an unexpected change, such as a job loss, illness, or separation. High interest charges can make repayment difficult even when you make regular payments.
It may be time to explore your options if you are:
- Making minimum payments without meaningfully reducing your balances.
- Using credit cards to cover essential expenses.
- Borrowing from one account to pay another.
- Missing payments or receiving collection calls.
- Unsure how you will repay what you owe.
You don’t need to wait until you miss a payment to ask for help. Understanding your options sooner can help you make a more informed decision.
What are your options for credit card debt relief?
The right approach depends on your income, expenses, total debt, and ability to repay. Hudson & Company can help you understand how the available options compare.
Repayment arrangements and debt consolidation
If you can repay your balances, a structured repayment plan or an arrangement with your credit card company may help. You can ask your creditor whether a lower interest rate or modified payment arrangement is available.
A debt consolidation loan combines debts into a single loan. It may make payments easier to manage and reduce interest costs if you qualify for a lower rate. However, it does not reduce the principal you owe, and approval depends on the lender’s requirements.
We can help you understand how these approaches compare with formal insolvency options.
Consumer proposals
A consumer proposal is a formal agreement administered by a Licensed Insolvency Trustee. It offers your creditors repayment of part of what you owe, more time to repay, or both.
Credit card balances are generally unsecured debts that can be included in a consumer proposal. The proposed payments depend on your circumstances, and the proposal is subject to creditor acceptance.
For someone who cannot repay their debts in full, a consumer proposal may offer an alternative to bankruptcy. Learn about consumer proposals.
Personal bankruptcy
Bankruptcy may be an option when your debts have become unmanageable. It is a legal process administered by a Licensed Insolvency Trustee that can release you from eligible debts once you meet the requirements and receive your discharge.
There are consequences for your credit, and your assets and income can affect the process. Our team will explain what bankruptcy could mean for you and review alternatives before you decide. Learn about the insolvency process.
How Hudson & Company helps you get started
1. Talk with our team
Call or request a free consultation to discuss your credit card debt and the concerns that brought you here.
2. Review your debt and options
Your recent credit card statements help our team identify your creditors and outstanding balances. We’ll review your financial situation and explain the options available to you.
3. Move forward with a plan
Once we’ve helped you choose a debt solution, our team will guide you through the next steps. If your plan involves a consumer proposal or bankruptcy, we’ll handle the filing and notify your creditors.
Experienced debt help for Albertans
Hudson & Company brings over 30 years of experience to helping people navigate difficult financial decisions. We have helped thousands of Albertans address debt and understand their options.
Our Licensed Insolvency Trustees are qualified to administer consumer proposals and bankruptcies. We explain these processes in plain language so you can understand what each option involves before making a decision.
We help people across Alberta, with three Calgary locations in the southwest, southeast, and northeast. Wherever you live in the province, contact our team to discuss getting started.
Request your free consultation.
Frequently asked questions about credit card debt
What can I do if I can’t afford my credit card payments?
Start by reviewing your balances, interest rates, income, and essential expenses. You can contact your credit card company to ask about payment arrangements and speak with a Licensed Insolvency Trustee about your broader options. Hudson & Company offers a free consultation to help you understand possible next steps.
Can credit card debt be forgiven in Canada?
Some debt solutions can result in you repaying less than the full amount owed. A consumer proposal can offer partial repayment, subject to acceptance and successful completion. Bankruptcy can release you from eligible debts after discharge. Neither outcome is automatic simply because you are struggling with payments.
Is consolidating credit card debt a good idea?
Consolidation may help if you qualify for a lower interest rate and can afford the payments. It is important to compare fees, repayment terms, and the total cost of borrowing. If the new payment would still be unaffordable, you may need to consider other options. Read more about debt consolidation.
Can I negotiate directly with my credit card company?
Yes. You can ask about a lower interest rate, a revised payment schedule, or other assistance. Your creditor decides whether to agree. If you have several debts or cannot afford the proposed payments, a consultation can help you assess other approaches.
Can a consumer proposal include credit card debt?
Generally, yes. Credit card debt is usually unsecured and can be included in a consumer proposal. A Licensed Insolvency Trustee will review your debts and explain which obligations can be included.
Will creditors stop calling?
After a consumer proposal or bankruptcy is filed, creditors generally must stop collection efforts for unsecured debts covered by the filing. Booking a consultation alone does not trigger this protection. If a creditor continues contacting you after filing, let our team know so we can help address it. Learn about collection calls after filing.
How will debt relief affect my credit and credit cards?
The effect depends on the solution you choose. Consumer proposals and bankruptcy affect your credit record and ability to borrow. Consolidation also involves lender requirements, and missed payments can affect your credit. Our team will explain what your chosen option means for your existing cards and future borrowing.
Take the first step toward addressing your credit card debt
You don’t need to have all the answers before reaching out. A conversation with Hudson & Company can help you understand your options and decide how to move forward.
Call (403) 265-4357 or request a free, confidential consultation.