Retirement Debt Guide
A free, practical guide to help you understand your debt relief options, protect what matters most, and move into retirement with confidence.
- Date:
- Author: Spergel
Debt Shouldn’t Define Your Retirement Years.
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You’ve worked hard to build your retirement, but rising costs and lingering debt can make it harder to enjoy the peace you’ve earned. We’re here to help!
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Debt in retirement Is more common, and more manageable than you think
Debt doesn’t disappear at retirement, and for many Canadians, it becomes harder to manage on a fixed income. Rising living costs, housing expenses, and unexpected family or health-related pressures mean even modest debt can create ongoing stress. The good news is that there are legal, compassionate solutions designed specifically to help retirees protect their home, pension, and savings, while reducing or even eliminating unsecured debt. With the right guidance, it’s possible to regain control and enjoy retirement with greater peace of mind.
See What’s Inside
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Why debt is rising in (and before) retirement — and why it’s not a personal failure
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What happens to your home, pension, and RRSPs when you get debt help
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Common myths about retirement debt — and the facts that can bring relief
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The emotional toll of debt and why so many Canadians feel better after getting help
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Reverse mortgages vs. consumer proposals — and the risks retirees should know
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Your debt relief options, explained clearly and without judgment
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Why many retirees wait too long to ask for help — and what they wish they’d done sooner
Empower yourself
Money Tips, Tools & Trackers, Research, Articles, Media and More!
Bankruptcy exemptions by province in 2026
Filing for bankruptcy in Canada does not mean you automatically lose everything you own. Bankruptcy exemptions protect certain assets you need for everyday life and work.
U.S. tariffs, jobs, and household debt in Canada: 2026 survey findings
Tariffs are often discussed in terms of trade and jobs. Spergel’s new 2026 survey brings the focus closer to home: respondents reported lower employment income, greater reliance on credit, and rising household debt amid U.S. trade disruption. Many are still making payments even as their finances become harder to manage.
Filing for bankruptcy with no assets in Canada – what happens?
Yes, you can file for personal bankruptcy in Canada even if you have no assets to sell. A Licensed Insolvency Trustee (LIT) will review your debts, income and property, explain what you can keep, and file the paperwork if bankruptcy is right for you.
Frequently Asked Questions (FAQs)
Eligibility and Debt What debts can be included in a consumer proposal? Most unsecured debts qualify, including credit cards, lines
The Emotional Toll of Debt
Spergel’s 3rd Annual Study explores the relationship between debt and mental health in Canada, including how financial stress affects Canadians’ wellbeing, relationships, and daily lives – and why many delay seeking help even when their debt has become overwhelming.
The Cost of Getting By in Canada: 2026 survey findings
For many people, getting by in Canada increasingly means using debt or savings to pay for ordinary life.
The rising cost of groceries in Canada: the impact on household finances in 2026
Grocery prices in Canada remain a major source of financial pressure for households in 2026.
Consumer proposal vs debt consolidation: which is better?
If you’re struggling to manage several debts, you may be comparing a consumer proposal vs debt consolidation. Both options can combine multiple debts into one monthly payment, but they work very differently.
407 ETR debt in Ontario: what happens if you can’t pay? (2026 guide)
Receiving a large 407 ETR bill can be stressful, especially if you’re already struggling with other debts. Whether you’ve missed a payment, recently discovered years of unpaid tolls, or simply can’t afford the balance, it’s important to know that you have options.
Received a CERB repayment notice? Here’s what to do if you can’t afford it
Although the Canada Emergency Response Benefit (CERB) ended in 2020, some Canadians are still being asked by the Canada Revenue Agency (CRA) to repay benefits after eligibility reviews.
How to remove collections from your credit report in Canada (2026)
Many Canadians experience financial difficulties at some point in their lives. Whether due to job loss, illness, divorce, rising living costs, or unexpected expenses, falling behind on bills can happen to anyone.
How to save money on groceries in Canada: 10 practical tips
With grocery prices rising across the country and the cost of living soaring, learning how to coupon in Canada isn’t just a savvy move – it’s a smart way to take control of your spending.
What To Say When Debt Collectors Call
Getting a call from a debt collector can feel overwhelming. This guide gives you the exact scripts, tips, and resources you need to stay calm, protect your rights, and take control.
How to leave a marriage with no money in Canada: a step-by-step guide to financial independence
Leaving a marriage is never easy, but it can feel especially overwhelming if you have little or no money of your own.
Surplus income limits in Canada – updated for 2026
Each year, the Office of the Superintendent of Bankruptcy (OSB) updates the surplus income limits for individuals filing for bankruptcy in Canada.
Is Spergel legit? What you need to know before choosing a debt help company
Yes, Spergel is a legitimate Licensed Insolvency Trustee firm in Canada, regulated by the federal government.
This means that Spergel is legally authorized to help Canadians reduce or eliminate debt.
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