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Call for a Fresh Financial Start
Call for a Fresh Financial Start

The Office of the Superintendent of Bankruptcy (OSB) has designed an online program for people who are in the process of a consumer proposal or bankruptcy.  It aims to provide you with the right tools and knowledge to help you move beyond your insolvency. 

Important Note: The Insolvency Counselling Program is part of the federally regulated insolvency process. In order for you to be discharged from your bankruptcy or consumer proposal, you must complete the two Insolvency Counselling modules and participate in two counselling sessions with one of our qualified BIA counsellors.

Online Self-Learning Modules

Stage 1: Budgeting

The budgeting stage is the first counselling stage and it takes place near the beginning of the insolvency process. The budgeting stage consists of one online self-study module, followed by a personal, one-on-one session with a BIA counsellor. During the online self-study portion, you will review the introduction, the budgeting module and prepare a personal budget.  You will share and discuss the budgeting template that you previously created during the online self-study module with the BIA counsellor at your one-on-one session.

Budgeting is the first step to your fresh financial start and it’s a process that will empower you. Budgeting allows you to:

  • Make proactive decisions about your money and puts you in control of your finances
  • Make deliberate decisions about your money and ensure your financial stability
  • Make deliberate decisions involve taking your time to carefully think about your choices
  • Ensure that you have enough money for essentials, as well as the things that are important to you

Click here to begin Stage 1: Budgeting

Stage 2: Planning for the Future

By this stage, you should be nearing the end of your insolvency. The modules in the Planning for the Future stage are meant to prepare you for long term financial success. 

The planning for the future stage consists of one online self-study module, followed by a personal, one-on-one session with a BIA counsellor. During the online self-study module, you will learn how to set financial goals and the skills needed to achieve them.  You will discuss the goals you set in the online self-study module with the BIA counsellor at your one-on-one session. 

Setting financial goals will help you take control of your future! This step is an important component of financial success. During the online session you will go over the following topics:

  • Setting and achieving financial goals
  • Your spending habits
  • Responsible use of credit

Click here to begin Stage 2: Planning for the Future

Five Tips to Prepare You for the Self-Learning Modules

  • Prepare a ‘focus-friendly’ environment: try to get rid of any distractions around you, choose a quiet, comfortable area
  • Remember to take your time when completing the module, move at your own pace
  • Write down any questions you have, and bring them to your in-person counselling session
  • Take regular breaks when completing the modules, stand up and stretch at least once every 10 minutes
  • This is not a test. Take your time and just do your best!

Additional Resources

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