Insolvency Counselling Program
If you have made a consumer proposal or filed for bankruptcy, you are required to complete the Insolvency Counselling Program, which is divided into two stages:
- Budgeting
- Planning for the future by setting financial goals
Each stage has an online component followed by a counselling session, in person or by videoconference. The online component and the in-person or videoconference counselling sessions complement each other.
Insolvency Counselling Program introduction
So you can access them whenever it is most convenient for you.
Stage 1
Budgeting
During the online session you will review the following modules:
- Introduction module
- Budgeting module
The introduction will provide you with orientation information and outline what you can expect during the Insolvency Counselling Program. In general, it takes about 10 minutes to complete.
The budgeting module will help you develop a personalized, basic budget that is realistic and achievable. In general, it takes about 35 minutes to complete this module. Your personal budget will be discussed with your counsellor during your first in-person or videoconference counselling session.
Stage 2
Planning for the Future
During the online session you will review the following modules:
- Setting and achieving financial goals model
(in general, takes about 20 minutes) - Spending habits module
(in general, takes about 10 minutes) - Responsible use of credit module
(in general, takes about 30 minutes)
The introduction will provide you with orientation information and outline what you can expect during the Insolvency Counselling Program. In general, it takes about 10 minutes to complete.
The budgeting module will help you develop a personalized, basic budget that is realistic and achievable. In general, it takes about 35 minutes to complete this module. Your personal budget will be discussed with your counsellor during your first in-person or videoconference counselling session.