Ontario Credit Counselling

Yes, credit counselling services are available across Ontario. We serve the province with phone and in-person appointments from our offices in Ontario.

The effectiveness of credit counselling can be very strong—provided you work with the right kind of organization. Those with the highest success rates tend to share the following traits:

• They’re members of Credit Counselling Canada, a national association for non-profit credit counselling agencies that follow strict standards for quality and transparency.
• They take time to fully understand your financial circumstances, create a workable budget with you, and review all your available options to deal with your debt and strengthen your financial stability.
• Their staff members aren’t paid commissions or given incentives tied to the recommendations they make, so they are able to provide you with objective guidance.
• Roughly 95% of people who contact these organizations receive help at no cost, and only about 20% end up enrolling in their repayment plan. The rest either get practical guidance they can implement themselves or are referred to another professional for very specific assistance.
• If you decide to go onto their debt repayment program, called a Debt Management Program, your chances of successfully completing it are high. People who complete this program with a quality non-profit organization also learn life-long skills – and it shows. These programs have less than a 1% recidivism rate (this compares to a 20% recidivism rate for insolvency).

Here is what credit counselling organizations often look like that have lower success rates:

• You may feel that you’re talking to a sales person rather than a credit counsellor.
• The “credit counsellors” who have lower success rates are often not professionally accredited, are not accountable to an accreditation body, and are not held to an objective, professional code of conduct and ethics. Credit Counselling Canada is the only national credit counselling association in Canada that prohibits its members from taking advantage of trusting consumers by double charging them for consumer proposals (only a Licensed Insolvency Trustee should charge you money for a consumer proposal).
• They may tend to push their clients toward filing a consumer proposal with a Licensed Insolvency Trustee (bankruptcy trustee) because this earns them more money. Sadly, many will effectively double charge their clients in doing this by first charging them thousands for a consumer proposal before referring them to a bankruptcy trustee who is legally the only one allowed to charge for a consumer proposal.
• The “credit counsellor” is paid commission and this is reflected in the “solutions” they promote and the alternative options they discourage. Sometimes the person who helps you is called a debt consultant or a financial wellness expert and will attempt to charge you thousands of dollars for their help before then referring you to a less than reputable Licensed Insolvency Trustee. A quality non-profit credit counselling organization will not charge you fees and then refer you to someone else. If it looks like an insolvency option is in your best interest, then they’ll provide you with contact information for a number of local trustees they are comfortable with entirely for free.
• Their “solution” to your financial problems will probably be a consumer proposal, which sounds more appealing than bankruptcy but pays them more (both are legal options governed by the Bankruptcy and Insolvency Act). If they’re not members of Credit Counselling Canada, there’s probably around an 80% chance that you won’t leave their office without being convinced to sign up for a “solution” that earns them money.
• With consumer proposals and bankruptcies, about 20% of people end up having to file for one of these again in the future. One of the reasons why this can happen is because the underlying causes of financial trouble are never addressed. Quality credit counselling organizations tackle these root issues, which is a big part of why they see better long-term outcomes.

To wrap up this up, not all credit counselling is the same. Some providers focus more on generating revenue than helping people, while reputable non-profits—often members of Credit Counselling Canada—put individuals first, even if that means they don’t earn anything. In fact, about 95% of people who call us for help of some kind end up receiving it completely free without ever paying a thing. It’s easy to see why profit-driven counsellors wouldn’t be interested in offering this kind of support – it doesn’t generate the profits they’re looking for.

Just talking to a credit counsellor won’t impact your credit score—it’s completely private and isn’t reported to anyone. But if you enroll in a Debt Management Program, then this may impact your credit score. Sometimes it affects your score, and sometimes it doesn’t, but it’s safer to assume that it will. That said, the impact only lasts until two years after you finish the program. At that point, the credit agency removes the program from your credit report, and with the right steps, your credit score can recover quickly. Your counsellor can let you know what to do to rebuilding your credit score. A credit rebuilding program is actually a part of our Debt Management Program.

In the big picture, any negative effects of a Debt Management Program (DMP) on your credit report are very short term compared to the alternatives. The alternatives could be:

• Repaying your debt on your own. If you’re really struggling to pay your bills, then your credit has likely already been dramatically impacted so going on a DMP will only help you fix your credit sooner. Continuing on your own at this point would likely drag things out for an extended period of time and just keep your credit in the ditch for a longer period of time.
• Trying to qualify for a debt consolidation loan if your credit cards are maxed out and you don’t have some good collateral to offer such as a newer vehicle (without a loan or lease) or real estate probably isn’t going to work out great, and if you end up getting a loan with an interest rate near 30% or higher, you’ll have difficulty paying it off and improving your credit any time soon.
• Getting rid of your debt faster by filing for insolvency through either bankruptcy or a consumer proposal. One of the downsides of this approach is that it destroys your credit for a minimum of 6 years and leaves you with a permanent legal record.

We don’t share all of this to discourage you, but rather to point out that a DMP can be a very helpful and effective tool when used in the right set of circumstances. These other options can also be viable when used in the right set of circumstances. Feel free to speak with one of our credit counsellors to see what options might work best for your financial situation.

You can speak with a credit counsellor as many times as you like, and it will never show up on your credit report. However, if you choose to work with your credit counsellor to enter into a Debt Management Program through a non-profit such as the Credit Counselling Society, then this will show up on your credit report. A Debt Management Program typically stays on your credit report for two years after the program is completed. This is much shorter than the six year record left by a bankruptcy, making it a less damaging alternative for many individuals. It also comes off your credit report about a year sooner than a consumer proposal, but leaves no permanent record with the courts like a consumer proposal does.

Your experience will depend on whether you choose a for-profit or a non-profit organization. For-profits are typically focused on signing you up for a program that benefits them financially.

Non-profits accredited by Credit Counselling Canada will typically spend about an hour with you, listening to your concerns, learning about your financial situation and goals, and helping you develop a workable budget. From there, they’ll go over potential solutions, discussing the advantages and disadvantages of each, to find the best path forward.

Good counsellors are experts at budgeting and as part of their process will help you make the most of what you have.

By the end of the session, you’ll usually have a clear action plan and a good sense of your next steps forward. If you need more help at any time in the future, you can arrange a free follow-up session.

If you decide that a Debt Management Program offered by the credit counselling organization is your best solution, a quality non-profit will never allow you to sign-up that day. They will always insist that you go home, sleep on it, and discuss it with anyone whose advice you value. A quality decision should not be made on the spot and should always be carefully considered.

If a consumer proposal or bankruptcy appears to be a better choice, they’ll refer you to a local Licensed Insolvency Trustee that they trust.

Whether you’re just looking for credit counselling near me or desire more structured financial guidance, these coaching sessions are intended to give you a better picture of your situation and a clear path forward.

Often, yes. Many people use a Debt Management Program from a non-profit as an alternative to bankruptcy or a consumer proposal. A credit counsellor can review your finances in detail and help you determine if this is a realistic solution for you.

Yes, a whole lot is available for free. Our non-profit offers free credit counselling, free financial education, and free educational resources. After meeting with one of our credit counsellors (either over the phone or in person), over 50% of the people we help end up pursuing a free option. In these cases, both the credit counsellor and the individual agreed that their best first choice was to address their situation on their own. In each of these cases, the credit counsellor would provide the individual with a realistic action plan. Then as the someone is implementing their plan, they can check in with their credit counsellor at any time (for free) to review their progress, bounce ideas off them, or get advice on how to tackle a particular challenge. If our Debt Management Program looks like an ideal option for someone, but we can see that they can’t afford to pay our small fee, then we’ll waive it. We’re here to find solutions that actually work, and we go to great lengths to help people find the right solution that will fit their financial situation.

Yes. The Canadian Credit Counselling Society provides free counselling appointments with certified professionals, complimentary financial education webinars, and a wide range of online tools and resources at no cost. A fee only applies if you decide to participate in one of their debt repayment programs. Even then, the costs are minimal, and in some cases, fees can be waived if someone is unable to pay.

The Credit Counselling Society is well known for the top quality, free help it provides. In fact, it’s been providing free help ever since starting out as the Credit Counselling Society of BC in 1996. Now we provide services across the country from BC to Quebec, which is why we are sometimes called the Credit Counselling Society of Canada.

We offer professional, non-profit help to people throughout the province and across the country. If you’re looking for the best credit counselling Ontario has to offer, we are a trusted, certified, accountable, and highly rated option.

Yes, the Credit Counselling Society (CCS) is a legitimate and highly respected non-profit organization that’s been helping Canadians manage their money and debt for nearly 30 years.

There was a time when a lot of provinces once ran their own credit counselling programs. However, most eventually found that quality non-profits like ours proved to deliver better results without relying on public funding. Once they discovered this, most switched to referring to non-profits rather than providing the service themselves.

It just so happens now that a lot of the people we help are referred to us by various government bodies from across the country. Some government departments and agencies are even regular users our educational resources and often invite us to provide financial literacy training for their employees.

Since we first opened our doors, we have helped more than a million Canadians over the phone or in person and have helped millions more online. We operate more offices than any other non-profit credit counselling agency in the country, and our staff members are frequently featured in the media offering financial tips, insight, and advice.

We also regularly write articles for two major news outlets, the Financial Post and The Province, which are often re-published by media outlets across the country.

We’re also recognized as an exceptional workplace, earning multiple Great Place to Work Canada® honours for fairness, giving back, including others, employee satisfaction, and support for women and younger professionals.

Education is central to our mission, with a team of full-time educators on staff, multiple awards for excellence in financial literacy, and a self-help educational website that has helped millions.

Our work has earned us more than 80 awards at the regional, national, and international levels. We’ve also received over 1,500 online reviews on Google, Yelp, and Facebook—with an average rating of 4.9 out of 5 stars. Every year, we survey more than 10,000 of our clients, and for many years, over 98% have said they would recommend our service to others.

When it comes to transparency, trust, and accountability, we strive to go the extra mile:

• Our finances are audited each year by an independent accounting firm—something no other credit counselling agency in Canada does.
• We’re overseen by a volunteer board of directors made up of financial and professional experts from across Canada.
• We’re accredited by Credit Counselling Canada (CCC), our industry’s national association with the highest standards of transparency and accountability, and the Better Business Bureau (BBB).
• We maintain our registered non-profit status with the Government of Canada.
• We were the very first international affiliate of the National Foundation for Credit Counseling (NFCC)—North America’s leading non-profit credit counselling organization.

Finally, we don’t believe commission based compensation is the best way to serve those who look to us for help. Unlike many organizations out there, our staff are never paid commission of any kind. This ensures that every client receives unbiased, objective advice that’s truly in their best interest.

No, government credit counselling in Ontario is not a thing. This is isn’t bad news, though. Many provincial governments across Canada have stopped offering credit counselling services in favour of non-profit credit counselling services like ours. Many determined that non-profit services offered a comparable or higher quality service for a much lower cost. Today, if you need help with your finances and a kind-hearted government employee wants to see you get some quality help and guidance, there’s a good chance they’ll refer you to a service like ours. In fact, we can share that provincial government ministries and agencies across Canada refer people to us every single day – as do federal government agencies. They also use our financial tools and resources and ask us to teach their employees how to manage their personal finances better.