Credit counselling can provide you with the knowledge and skills to empower you to manage your finances and eliminate debt.
In situations where there is a budget surplus, it may be possible to structure an informal arrangement with creditors to accept a payment plan.
In such cases, creditors might agree to compromise their claims or reduce interest payable on the debt, but more often than not, creditors will demand full payment.
A consumer proposal may be a better solution and should always be considered as an alternative given that debts in a consumer proposal can be compromised (ie settled for a fraction of what is owed).
But whatever path is taken, learning about money and debt management is central to any debt-solution plan in order to provide essential knowledge to avoid future debt issues, and to create financial security and stability.