The federal government today announced the launch of a new online tool to help consumers deal with debt.

“Canadian consumers who wish to make changes in their financial circumstances can get some practical information with this new tool,” said Maxime Bernier, Minister of Industry.

Regularly bouncing cheques, being late paying bills or using one credit card to make a minimum payment due on another credit card are warnings signs of a debt management problem.

Consumers can begin to take action by consulting a credit counsellor, their financial institution or by committing to planning a budget. These and other options may be explored with the help of the new online tool.

The tool, called Take Charge of your Debts, was developed by the Office of Consumer Affairs, Industry Canada. The Office of Consumer Affairs seeks to promote the interests and protection of Canadian consumers.