--- title: Debt relief in Prince Edward Island date: 2025-04-16T12:23:00-04:00 canonical_url: "https://grantthorntonlimited.ca/en/locations/debt-relief-in-prince-edward-island" section: Pages --- # **Debt relief** in Prince Edward Island Explore your debt relief options in PEI, Canada. [Find an office near you.](#service-section) [ Book your free consultation! ](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) ![A graphic including an image of a lighthouse on a beach and the Confederation Bridge in Prince Edward Island.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/_imageLarge/PEI.png) ![Mean appearing on the screen of a laptop screen explaining the benefits of filing a consumer proposal](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Additional-imagery/_imageLarge/women-virtual-meeting.png) ## Doane Grant Thornton offers Prince Edward Islanders **judgment-free solutions** to their debt. As Licensed Insolvency Trustees and debt solutions professionals in Prince Edward Island, we’re regulated by the federal government, meaning we’re the only professionals authorized to offer debt repayment solutions, like consumer proposals and bankruptcy. We provide free, no obligation consultations to help get you back on track with your finances. [Book yours today!](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) ## **Consumer proposals** in Prince Edward Island. Consumer proposals are becoming one of the most popular debt management solutions for Prince Edward Islanders struggling with debt. As an alternative to bankruptcy, a consumer proposal is a legally binding repayment agreement between you and your creditors. A Licensed Insolvency Trustee will negotiate on your behalf to settle your unsecured debt (credit cards, income tax debt, payday loans, etc.) into a single, interest-free payment. [ Learn more about consumer proposals. ](https://grantthorntonlimited.ca/en/consumer-proposal/what-is-a-consumer-proposal) ![A man holding his cell phone and smiling](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/_imageLarge/Media_2023-10-19-164222_slho.png) ![Image of a middle aged woman sitting on a couch with her laptop. She is researching how to file a bankruptcy in Canada. Around her image, illustrations of a calculator, numbers, a cheque and a lightbulb float.](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/_imageLarge/How-do-I-file-a-bankruptcy_2026-06-02-130927_nwno.png) ## **Filing for bankruptcy** in Prince Edward Island. Personal bankruptcy is a common debt solution that allows you to clear almost all your debt, including income tax debt, credit card debt, overdue utility bills, lines of credit, and loans. Before you decide to file for bankruptcy, it’s important to consider all other debt repayment options. Your Licensed Insolvency Trustee (LIT) will help you decide if declaring bankruptcy is the best choice for you. [ Learn more about personal bankruptcy. ](https://grantthorntonlimited.ca/en/bankruptcy/what-is-bankruptcy) ## **What assets can I keep during bankruptcy in PEI?** In all provinces and territories, you can generally keep essential items up to a certain value—like necessary clothing and household goods, most retirement savings, Registered Disability savings plans, and most life insurance policies and pension plans. [Learn more detailed information about what assets you can keep in your province.](https://grantthorntonlimited.ca/en/debt-help-resources/articles/article-what-assets-can-i-keep-in-bankruptcy) **Exemptions specific to Prince Edward Island include:** - One motor vehicle with a value up to $3,000. If your vehicle is needed for your occupation or for medical reasons, the value increases to $6,500. - Necessary clothing for you and your dependents. - Household goods, up to a value of $5,000. - RDSPs (Registered Disability Savings Plans). - Specific exemptions for farmers if your principal livelihood is farming. ## **Other debt relief options** available in Prince Edward Island - **Orderly Payment of Debts:** This debt repayment option is *not* offered by Doane Grant Thornton but can be administered by provincial credit counsellors in Alberta, Nova Scotia, Prince Edward Island, and Saskatchewan. An Orderly Payment of Debts combines your unsecured debt into one monthly payment with an interest rate of 5% to be paid back over three years. Certain types of debt, such as income taxes or business-related debt, can’t be included. - **Credit counselling:** Credit counselling is a nonprofit service that helps Prince Edward Islanders who are struggling with their finances. Your credit counsellor can help you with budgeting, financial literacy or managing debt payments through a debt management or settlement plan. - **Debt consolidation**: Debt [consolidation loans](https://grantthorntonlimited.ca/en/debt-help-resources/articles/consolidation-loan-vs-consumer-proposal-whats-the-difference) are offered by lenders like banks and combine some or all your debt into a single monthly payment. Aside from reducing your number of bills, debt consolidation loans can also offer a lower interest rate. *Please note these services are not offered by Licensed Insolvency Trustees.* ## Our Licensed Insolvency Trustees for **Prince Edward Island** Trusted, regulated, and knowledgeable debt solutions professionals ready to help. ### Blaire MacNeil CPA, CIRP, LIT - [1 (902) 549-5529](tel:19025495529) - ![Portrait image of LIT Blaire MacNeil](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/Blaire-MacNeil.png) [ About Blaire ](https://grantthorntonlimited.ca/en/about-us/our-team/blaire-macneil-about-me) ### Adam Cardwell CIRP, LIT - [1 (709) 778-8808](tel:17097788808) - ![Portrait image of LIT Adam Cardwell](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/Adam-Cardwell.png) [ About Adam ](https://grantthorntonlimited.ca/en/about-us/our-team/adam-cardwell-about-me) ### Kaitlin Verge CIRP, LIT - [1 (902) 455-5608](tel:19024555608) - ![Portrait image of LIT Kaitlin Verge](https://pr-assets.grantthorntonlimited.ca/craftcmsimages/Content-block-imagery-and-graphics/Kaitlin-2026-light-purple-team-page.png) [ About Kaitlin ](https://grantthorntonlimited.ca/en/about-us/our-team/kaitlin-verge-about-me) ## **We’re proud** to be in the following Prince Edward Island communities: We're able to service all of PEI via phone or video call. If you don't see your city below, we may still be able to help. [Book your free consultation to learn more.](https://grantthorntonlimited.ca/en/get-in-touch/contact-us) ### **Charlottetown** - [1 (902) 566-4381](tel:19025664381) - [Get directions](https://maps.app.goo.gl/CaanGZydXQ1rkaNX8) - [Leave a Google review](https://g.page/r/CRAvBIdWxOeaEAI/review) 98 Fitzroy Street, Suite 410 [ Learn more ](https://grantthorntonlimited.ca/en/locations/charlottetown-prince-edward-island) ### **Summerside** - [1 (902) 436-1159](tel:19024361159) - [Get directions](https://maps.app.goo.gl/zZhCMqADfRLjNmfG9) - [Leave a Google review](https://g.page/r/CfG693RwjiAVEAI/review) 220 Water Street, 2nd Floor [ Learn more ](https://grantthorntonlimited.ca/en/locations/summerside-prince-edward-island) ## Hear from people **we've helped:** ### **Doane Grant Thornton helped my heightened anxiety stay in the background.** Before I called, I was a nervous wreck with all the associated symptoms. Doane Grant Thornton helped my heightened anxiety stay in the background. Nick, with his calm voice, made me feel comfortable in explaining why I had called this company. With his expertise in explaining the process of what may follow our phone conversation and should I accept this proposal, made my decision an easy one. I highly recommend calling Doane Grant Thornton and inquire about what they can do to offer help to you. — Deborah C. (Charlottetown) ### **Very pleasant and helpful.** Tanya was very pleasant and helpful. She answered all my questions efficiently and advised me how to move forward. — Brenda C. (Charlottetown) ### **The advisor provided excellent service.** The advisor provided excellent service. There was a clear plan developed, and time frames planned. It was a good experience. Looking forward to the follow-up and work plan. — Charlie D. (Charlottetown) ## **Take the first step** to debt freedom Speak to one of our debt solutions professionals during a free, no-obligation consultation. [ Book a free consultation ](https://grantthorntonlimited.ca/en/get-in-touch/contact-us)