A voluntary plan depends on agreement and continued payments
A Canadian debt management plan is generally arranged with a credit counsellor and participating creditors. It is distinct from the statutory consumer proposal administered by a licensed trustee. Review the accounts included, any interest concessions and fees charged for the service. If some obligations remain outside the plan, their payments must also appear in the household budget before the affordability of further borrowing is considered.
A new shortfall may reveal that the original budget needs work
Ask the counsellor how new credit would affect the programme and whether the current payment should be reviewed. Explain changes in income or necessary expenditure rather than covering every gap with another card. FCAC guidance helps assess a counselling service and its costs, while the OSB comparison clarifies alternative routes. The credit-report implications should be understood separately from the question of whether the plan can still be completed.
