Many seniors, or Grandpa Debtors, are struggling with debts they can no longer manage. Personal Bankruptcy Canada presents five ways that seniors can take control over their finances.

1. 5 Ways
“Grandpa Debtors”
Can Cut Back on Debt

2. Many “Grandpa Debtors”, or senior citizens, are
overwhelmed with debt.
The golden years of retirement have turned into
a major struggle for many seniors.
Here are five tips for seniors trying to curb their
debt.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

3. 1. Cut Down On the Number
of Credit Cards
One or two credit cards is enough –
one for everyday purchases and
one for emergencies.
The more cards you have, the
easier it is to charge things you
can’t afford.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

4. 2. Avoid “Debt-Relief” Companies
These companies promise to cut your
debt, but in reality they charge high
up-front fees which can put you further
into a financial crisis.
A licensed bankruptcy trustee is a
trusted and knowledgeable
professional alternative.
Many trustees offer a free consultation
to review your finances in detail.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

5. 3. Protect Your Finances From Fraud
Consider:
•Let a trusted third party, even a
friend or family member, monitor your
credit activity.
or
•Signing up for fraud protection
services through one of the credit
reporting bureaus.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

6. 4. Cut Spending
Review your budget and list
ways you can cut down on your
spending.
Consider selling some of your
assets or taking on a part time
job to bring in extra money.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

7. 5. Pay Your Bills On Time
Pay bills as soon as they come in.
Don’t let interest grow because you
didn’t get to the bills on time.
Set up reminders in your calendar
or sign up for direct pay to avoid
late fees.
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca

8. If you are struggling with debt in Canada,
contact a licensed bankruptcy trustee
for a free consultation.
www.PersonalBankruptcyCanada.ca
www.personalbankruptcycanada.ca info@personalbankruptcycanada.ca