Debt

Frequently Asked Questions

  • Where can I find information if I’m concerned about debts as a result of COVID-19?

    The Financial Consumer Agency of Canada (FCAC) has a Fact Sheet, COVID-19 Managing Financial Health, with information on the Canada Emergency Response Benefit, EI, Mortgage deferrals, family benefits, student loans and more:

    View website.

    There is a Community Financial Helpline providing information on COVID-19 financial supports, income supports, benefits and credits, and credit and debt counselling. They can be reached at:

    1-431-813-4357

    1-855-955-4234

  • How do I keep debt from getting out of hand during COVID-19?

    The Financial Consumer Agency of Canada has a budget planner tool you can use:

    Budget planner.

    There is a Community Financial Helpline providing information on COVID-19 financial supports, income supports, benefits and credits, and credit and debt counselling. They can be reached at:

    1-431-813-4357

    1-855-955-4234

  • What if I cannot pay my rent?

    You should talk to your landlord and make arrangements. Tenants cannot be charged late fees. Evictions for not paying rent were suspended until September 30, 2020.

    There is a Community Financial Helpline providing information on COVID-19 financial supports, income supports, benefits and credits, and credit and debt counselling. They can be reached at:

    1-431-813-4357

    1-855-955-4234

  • What if I cannot afford to pay my mortgage?

    You may be able to get a mortgage deferral that will let you skip payments. You will still be charged interest. When the deferral period ends you will have to pay the deferred payments and interest along with your monthly payments. Ask your bank about the effect on your credit rating. For more information:

    View website.

  • What if I cannot afford to pay my Hydro or Centra Gas bill?

    You can defer payment of these bills and your utilities will not be cut off. Late payment charges will not be charged for 6 months. The utilities are also prepared to make flexible payment plans.

  • What if I cannot afford to pay my credit card bill?

    Talk to your bank about lowering your interest rate or deferring your payments for up to six months. Ask your bank about any effect on your credit rating.

  • What about my student loan?

    Repayments for provincial and federal student loans were suspended until September 30, 2020. Both Manitoba and Canada student loans currently have an interest rate of 0%.

  • When do I have to pay my taxes?

    September 1, 2020.