I’m a Caregiver and Can’t Work Full-Time — What Are My Debt Options?

If you’re a caregiver, you already know it’s not just about showing up, it’s a full-time emotional, physical, and financial commitment. Between appointments, prescriptions, and late-night worries, your days are packed. And when your schedule doesn’t leave much room for work, your income usually takes a hit.

That’s when the stress starts creeping in. Bills pile up, credit cards get heavier, and suddenly, you’re not just caring for someone else — you’re trying to keep your finances from falling apart too.

The good news? You’re not alone, and there are debt options for caregivers that can actually help.

Farber works with caregivers every day — people who are juggling care, work, and bills — and helps them find debt solutions that fit the reality of their lives.

The Financial Reality of Canadian Caregivers

Caregiving is an act of love, but it often comes with a cost. Across Canada, millions of people are caring for family members while trying to hold onto jobs, and almost half end up cutting back their hours or stepping away from work completely.

The Hidden Costs of Caregiving

Caregiving has “invisible expenses” that most people don’t see. Maybe you’re taking unpaid days off. Maybe you’re covering extra medications or equipment your insurance doesn’t fully pay for. Or maybe you’re just grabbing more convenience meals because you’re too exhausted to meal prep.

It’s those small, repeated costs that quietly build debt over time. And when you’re already stretched thin, it’s easy to feel like you’re losing control.

Assessing Your Current Financial Situation

First things first, take a breath. Figuring out where you stand doesn’t have to be complicated.

Start by listing your income (including part-time work, caregiver benefits, or family support), your regular expenses, and what you owe. Then think about how much time you actually have for paid work while caregiving. This will give you a clearer sense of what kind of debt solution fits your life right now.

If that feels overwhelming, that’s okay. You don’t have to do it alone. A Licensed Insolvency Trustee (LIT) at Farber can walk you through it with no judgment, no pressure, and just a clear picture of your debt relief options.

Government Assistance Programs for Caregivers

Before you touch your credit cards or savings, check out what government support might already be available. There are several programs that can make a difference, even if it doesn’t feel like it at first glance.

Caregiver Tax Credits and Benefits

The Canada Caregiver Credit helps lower your taxes if you’re supporting a loved one with a physical or mental impairment. There’s also the Disability Tax Credit, which can sometimes be transferred to you if the person you’re caring for doesn’t use the full amount. These can add up to hundreds of dollars in savings at tax time.

Employment Insurance Caregiver Benefits

If you’ve had to take time off work to provide care, you might qualify for Employment Insurance Caregiving benefits. They can cover up to 26 weeks of income support, giving you some breathing room when you need to step back from your job.

Disability Supports and Provincial Subsidies

Depending on where you live, there may be even more help out there. Ontario has the Ontario Disability Support Program (ODSP), which helps with medical and living expenses.

In British Columbia, the Home Support Program provides subsidized personal and respite care. And in Alberta, AISH offers monthly financial and health-related assistance.

These programs aren’t always easy to find, but they can really help lighten your load.

Debt Management Strategies While Caregiving

If you’re already in debt, you’re far from alone. Most caregivers are just trying to keep their heads above water. Here are a few realistic steps that can help:

1. Focus on the expensive stuff first. Credit cards and payday loans grow the fastest — getting those under control makes the biggest difference.
2. Call your lenders. A lot of creditors have hardship programs that reduce interest or pause payments if you explain your situation.
3. Don’t dip into your RRSPs. It’s tempting, but the tax hit can make things worse later.
4. Simplify your payments. If you’ve got multiple debts, consolidation or a formal repayment plan can make things way more manageable.

When your time and energy are already spread thin, structure is everything. Having one clear plan can make your financial life feel less chaotic.

Formal Debt Relief Options for Caregivers

Sometimes, budgeting only goes so far — especially when you can’t work full-time. That’s when formal debt relief options come into play.

Consumer Proposals

If you’re feeling buried by bills but can’t see how to make ends meet on a caregiver’s income, a consumer proposal might be the fresh start you need. It’s basically a deal you make with your creditors — set up by a LIT — where you agree to pay back only part of what you owe, at a pace that actually fits your budget.

The nice part is you don’t lose what’s important to you. Your car, your home, and the things you rely on to care for your loved one stay yours. The interest stops, the collection calls stop, and for the first time in a while, you can take a deep breath and focus on what really matters — your family.

When To Consider Bankruptcy as a Caregiver

There are times when even a reduced payment plan just isn’t possible. Maybe your income’s gone down for good, or you’re living mostly on benefits or pensions. In those situations, bankruptcy can be the clean slate that helps you rebuild.

It wipes out most unsecured debts (things like credit cards, lines of credit, and payday loans) and gives you a chance to reset without the constant financial pressure.

Building Financial Resilience While Caregiving

Even small changes can help you feel more in control. Set aside tiny amounts when you can, even $20 a week adds up. Look into flexible income opportunities that fit around caregiving, like remote freelance work or turning a hobby into extra income.

Lean on community resources, too. Caregiver networks, nonprofits, and local organizations can help with everything from transportation to meal support. And if your income changes again, try to adjust your budget early and look for small ways to build a bit of breathing room each month.

Conclusion

Caregivers give so much of themselves — time, energy, and heart — but they deserve financial peace, too. If debt has started to feel like one more thing you’re carrying, know that you don’t have to do it alone.

Farber’s team has helped so many caregivers find their footing again through consumer proposals, financial planning, and personalized support.

You spend every day caring for someone else. Now’s the time to take care of you, too. Book a free consultation today and start with a plan that finally gives you some breathing room.