Debt and borrowing in BC
Making decisions about debt and borrowing can be stressful and downright confusing. There’s lots of noise out there about what you should and shouldn’t do and it’s hard to know which information to trust.
As a not-for-profit regulator, we enforce certain consumer protection laws in BC focused on debt and borrowing. If you’re dealing with debt and aren’t sure where to turn, we want to make the path forward a little clearer for you with reliable tools and resources that just make sense.
Why do our images look like this?
We used AI to generate most of the images on this page using prompts about debt and borrowing. While we think AI is pretty neat (it might be listening), most of the images were weird and confusing — not unlike some of the debt and borrowing advice out there. See what we did there?
Our goal is to provide you with good info so you can make informed choices. Give it a read and let us know how we did by filling out the survey at the bottom of the page.
There are several different paths to take to manage your debt. In some situations, the path forward involves following a strict budget and making changes to spending. In others, it’s best to ask for help from a professional.
- How to make a plan to manage your debt
- How debt impacts your credit score
- Comparing different debt relief options
- How to improve your credit score
- Building healthy financial habits
Getting debt collection calls? In BC, you have rights when it comes to debt collection. The law says when a collector can contact you and how they can communicate with you.
- The rules collectors must follow in BC
- How to dispute a debt
- How to get the calls to stop
- What to do if it’s not your debt
Responsible borrowing can be a good thing, but sometimes loans can get you in trouble (and not all of them are created equal). Before you take out a loan, there are several things to consider.
- Things to think about before taking out a loan
- Understanding the true cost of your loan
- The rules for payday lenders in BC
- The risks of borrowing money from unlicensed payday lenders
- Buy now, pay later plans: what you need to know
Tell us what you think for a chance to win!
The information above is part of a consumer education initiative on debt and borrowing in BC and we want your input!
By completing the survey, you will be entered to win one of two $300 prizes and you’ll be supporting consumer education in the province. Your feedback will help us fine-tune our educational resources so we can continually improve and help more people make informed debt choices in BC.
Take the survey by visiting this page or by clicking on the image below.
