• checkbox logo Reduce debt by up to 80%

Debt Management Plans in Canada

Get a Free Debt Repayment Plan

Safe, secure & confidential

google logo

Gain financial independence with a debt management plan

We know just how difficult and overwhelming it can be to repay your debts. If you’re struggling to keep on top of payments, or you just need some help figuring everything out, get in touch.

With a debt management plan (DMP), you’ll be set up with predictable, scheduled repayments, helping you stay in control of your debts. However, there may be a better debt solution out there for you such as a consumer proposal or bankruptcy.

With Harris & Partners, you don’t have to struggle alone – get in touch with our friendly team today and we can help you find your path to financial independence.

friends laughing

Debt Management Plan (DMP) - it's a simple process


We’ll take the time to understand your unique situation, without judgment. We need the full picture to help you find the best solution, including your income, debt, and who you owe money to. All consultations are free and confidential.


Once we understand your situation, we’ll start making a plan. We’ll explore all debt relief options and only recommend what’s right for you. We’ll never pressure you into any decisions and tailor our services to your needs.


Once you’re happy with the plan, we’ll help you put it into action. We’ll always prioritize your financial well-being and provide unwavering support and trustworthy guidance from start to finish.

Shahrad Nakhaie
Shahrad Nakhaie
They are so great, every thing was so easy for me. Unbelievable, All my debt are gone now and I feel like I'm free, thanks Osman Ali for all you did for me, at the first time it's even hard to believe that was real, but it's real and easy. Thank you bro for your help.
Osman is a professional and you cant find anybody better. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you osman and the rest of the team for helping me through my struggles.
Banda Gueye
Banda Gueye
Osman is a vert nice gentlemen, he was polite sweet and gentle. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you Osman and the rest of the team for helping me through my struggles.
Kim Brown
Kim Brown
So far this has been a great company, I have been with them over a year. Every time I have an issue Josh jumps right on it and helps me out. He never makes me feel like I'm being a pain in the butt 🙂 I definitely recommend them, I have referred two of my family members to get help and now Josh is helping them as well. I thank you Josh for all the hard work and responding so quickly to all my messages.⭐️⭐️⭐️⭐️⭐️
Ajanthan Murugananthan
Ajanthan Murugananthan
Staff members Samuel and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and line of credit and made it manageable. I would highly recommend Harris & Partners Inc. They have given me a new life in my financial life to success.
Paul Woo
Paul Woo
Staff members Yasan and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and made it manageable. I would highly recommend Harris & Partners Inc.

Debt management plans - what are my options?

There are two main costs linked to debt management plans, these are:

  • Lower interest charges for the credit cards included
  • Agency fees for the set up and monthly admin associated with your debt management plan
woman staring

Option 1. Interest charges

Creditors (the people you owe money to) will often entirely remove the APR interest on your debt. However, it is possible that they reduce them, rather than fully removing them. This means you may still have to pay this cost throughout the course of your debt management plan.

Take control today
woman with backpack

Option 2. Agency fees

As these agencies are not-for-profit, they will aim to keep the costs as low as possible. However, you will still have to cover the cost of them managing your debt repayments. This includes a one-time setup fee, followed by monthly administration payments.

To make this easier for you, all of the fees will be included in your monthly payment. This means you can make sure you’re able to afford the program, and will only ever have to handle one payment each month.

Get started
man smiling

How a debt management plan works

A debt management plan sets out how you will repay your debts in full. The plans can run for up to 5 years and aim to leave you debt-free at the end of the repayment period.

The service is usually offered through a not-for-profit credit counseling agency. This agency will pull together your unsecured debts, so you only have to make one monthly payment. All you need to do is pay this to the agency, and they will split it between your debts on your behalf.

Not sure this is the right option for you? Give our team a call today. Our Licensed Insolvency Trustees will take the time to understand your situation, helping you find the right debt solution for your needs.

Is a debt repayment program right for me?

Choosing the right debt solution for your unique situation is a big decision. Not only that, but every debt relief option has its own advantages and disadvantages. To help you weigh up whether a debt repayment plan is right for you, take a look at the pros and cons below.

elderly men playing chess

DMP advantages

  • You will be debt-free at the end of the process
  • They can be used to manage high levels of debt, including over $100,000
  • APR interest will be reduced or completely removed
  • Multiple bills are pulled into one easy monthly payment
  • Monthly payments can be reduced by up to 50%
  • You can be out of debt in 3 to 5 years
  • Less damage to your credit score than debt settlement or bankruptcy
Consumer Proposals and Mortgages

DMP disadvantages

  • You won’t be able to use your credit cards, or open new ones
  • It may take a longer to pay off your debts, resulting in a higher overall cost
  • They can have a negative impact on your credit score
  • Rebuilding your credit afterwards can be difficult
  • Not all creditors need to agree, maybe leaving some debts alive
  • There is little room to miss payments, if at all
  • The process is not overseen by a
  • Trustee or the federal government and is considered informal
Call an expert
woman whispering to a child
Support across Canada

Why Harris & Partners

chart icon
Remove up to 80% of your debt

Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.

people circle outline
We speak your language

Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.

location logo
Debt support across nine provinces

Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.

Our Licensed Insolvency Trustees - here to help with debt management plans

With our Licensed Insolvency Trustees, you will never have to face the stress of debt alone again. We are backed by years of experience and are ready to help you find a way to financial security.

  • Jay harris
    Jay T. Harris
    Licensed Insolvency Trustee
  • kyle
    Kyle Harris
    LL.B., CIRP, LIT
    Licensed Insolvency Trustee
  • adam
    Adam Fisher
    Licensed Insolvency Trustee
  • Joshua Harris
    Joshua Harris
    Licensed Insolvency Trustee
  • advisor
    David Adams
    Licensed Insolvency Trustee
  • doug
    Doug Loiselle
    Licensed Insolvency Trustee
  • Rob McLernon
    Robert McLernon
    BComm, CIRP, LIT
    Licensed Insolvency Trustee
  • shelley
    Shelley Koehli
    Licensed Insolvency Trustee
  • Jill Strueby
    Licensed Insolvency Trustee

Debt Management Plan FAQs

What is a debt management plan?

A debt management plan is a debt repayment program administered by a credit counseling agency in Canada. It lets you consolidate your unsecured debts into one affordable monthly payment, potentially reducing or eliminating interest charges. You’ll typically repay 100%+ of your debts over a period of up to 5 years.

What types of debt can be included?

A DMP can typically include unsecured debts such as credit cards, personal loans, and lines of credit. Secured debts, such as mortgages and car loans, are generally not included.

Am I required to enroll with my spouse?

No, you are not required to enroll with your spouse in a DMP. However, if you have joint debts, you may need to include them in the plan.

Am I required to include all my credit cards in a debt management plan?

No, you are not required to include all your credit cards in a DMP. However, it is generally recommended to include as many debts as possible to maximize the benefits of the plan.

Is a debt management plan the same as debt settlement?

No, a DMP is not the same as debt settlement. Debt settlement involves negotiating with creditors to settle your debts for less than the full amount owed. A DMP, on the other hand, involves repaying your debts in full over a period of time.

Is a debt management plan a loan?

No, a DMP is not a loan. You are not borrowing any additional money. Instead, you are consolidating your existing debts into a single payment plan.

What happens if I can’t keep up with the payments?

If you can’t keep up with the payments on your DMP, you may be able to negotiate a new payment plan with your credit counseling agency. However, if you continue to miss payments, your creditors may be able to take legal action against you. In these situations, it is likely that a formal solution like a consumer proposal or bankruptcy will be recommended.

Regain financial control with Harris & Partners

We understand just how stressful it can be to keep on top of mounting debt. If you’re struggling to find the light at the end of the tunnel, get in touch with us today. Our Licensed Insolvency Trustees have helped hundreds of Canadians just like you find their way to financial freedom. Take control today – give our friendly team a call.

Contact information

It's never too late to obtain debt help. Book your free consultation today

Phone number
Send us a message

Contact form

✓ Valid number ✕ Invalid number
This field is for validation purposes and should be left unchanged.

Where you can find our debt management plan experts in Canada

We operate across all provinces in Canada except Quebec, so help is always available at a Harris & Partners office near you.

Our Debt Management Solutions