Residents of Winnipeg know the rising cost of living all too well, as is evident in the average amount of consumer debt that residents of the province are carrying. Although the average consumer debt in Winnipeg remains lower than the rest of Canada, the average debt in the province has recently jumped nearly 10 per cent. If that isn’t a debt problem, we don’t know what is.

As of the first quarter of 2019, the average consumer debt was approx $18,000, up 1.6% from the previous year but well below the national average of $23,496 and more than $10,000 lower than Alberta. Even though average debt loads are lower, that doesn’t mean people aren’t struggling. Our credit counsellors can help you find a solution.

If you live in Winnipeg and cannot pay your bills on time or are seeing your overall debt levels increase month after month, then credit counselling may be the answer you seek. A quality Winnipeg credit counselling program can help you get out from under your debt and eventually become debt free. Get your finances back on track by speaking to trained credit counsellors, regardless of your financial situation.
Debt relief options in Winnipeg  

You are not alone

Debt.ca’s credit counselling services in Winnipeg, MB helped 215 Winnipeg families in 2019 with an average debt of $16,472. Our debt solutions have given them the tools to stay out of debt in the future.

 

Data from 2019 in Winnipeg, MB

2019 Data
Population 705,224
Average Credit Score 638
Median Income $85,660
Average Home Price $300,011
Median Mortgage $170,000
Insolvency
Total Insolvencies: 2,044 *(+7.8%)
Av Assets / Insolvency $101,001
Av Liabilities / Insolvency $133,765
Debt Ratio: 132%
Bankruptcy
Bankruptcies 852 *(-6.2%)
Av Assets $64,911
Av Liabilities $134,861
Debt Ratio: 208%
Consumer Proposals
Consumer Proposals 1,192 *(+20.6%)
Av Assets $126,796
Av Liabilities $132,982
Debt Ratio: 105%

* % change from 2018
 

About Winnipeg

Winnipeg is the capital of Manitoba, located in the heart of the nation. More specifically, it’s at the junction of Assiniboine and Red Rivers, now referred to as “The Forks.” The city was named after Lake Winnipeg, a name meaning “muddy water” in Western Cree.

Its history is rich in trading among Indigenous people, but then became a destination for many Europeans who settled there with the first French-built trading fort constructed in 1738. Winnipeg became a city in 1873 and is now not only the biggest city in Manitoba but its capital, too.

What stands out?

Thanks to Winnipeg’s rich history and current cultural climate, it is known as the Cultural Capital of Canada. Today, there are 26 National Historic Sites of Canada in this city, including The Forks, which draws in millions of visitors every year. The oldest public art gallery in Western Canada – Winnipeg ArtGallery – features the most extensive public collection of Inuit art in the world. Winnipeg has also been the site of several Hollywood films, including Shall We Dance?, Capote, and The Assassination of Jesse Jamesby the Coward Robert Ford.

Winnipeg’s Economy

Winnipeg has a bustling and diversified economy and serves as Manitoba’s economic base. Much of the employment in Winnipeg stems from the trade, manufacturing, education, and health care sectors. Some of the biggest employers in Winnipeg include government entities, Shaw Communications, Manitoba Telecom Services, Great-West Life Assurance, Boeing Canada Technology, Canada Goose, and Investors Group.

Notable Winnipeg Locations

These days, Winnipeg is known for many sites and sounds, many of which are rooted in its rich history. The historic site, The Forks, is now home to many converted warehouses that are now restaurants and shops. This location is also the site of many concerts, festivals, and exhibits that take place throughout the year.

Nearby Assiniboine Park offers plenty of green space, and Assiniboine Zoo is a popular attraction for locals and visitors alike. The Exchange District is also a well-known spot that features historic early 20th-century structures and many art galleries.

Current Financial Status

Recent events have weakened Winnipeg’s economy, as well as that of the overall province. Among the most pressing issues affecting the economy is the completion of many large-scale construction projects across the area. The region is also seeing a lull in job growth and weak wage increases as well. Today, nearly 750,000 people call Winnipeg home, making it the province’s largest city and the country’s seventh-largest city.

Resources available in Winnipeg

If you are struggling to make ends meet, apart from seeking professional credit help, there are several national, state, local government agencies, along with non-profit organisations, you can turn to:


Winnipeg Portage Place Service Canada Centre
393 Portage Avenue
Winnipeg, Manitoba.

Available Services

  • Unemployment Assistance
  • Child Benefits
  • Senior Assistance

CRA – Canadian Revenue Agency
325 Broadway, Winnipeg, MB R3C 4T4
(800) 959-8281


Winnipeg Veterans Affairs
400 Ellice Avenue, 3rd Floor
Winnipeg, Manitoba R3B 3M3
(866) 522-2122


Better Business Bureau of Manitoba and Northwest Ontario
1030 Empress St,
Winnipeg, MB R3G 3H4
(204) 989-9010


Food Bank – Winnipeg Harvest
1085 Winnipeg Ave,
Winnipeg, MB R3E 0S2
(204) 982-3663


Mental Health Education Resource Centre of Manitoba
100-4 Fort Street,
Winnipeg, Manitoba R3C 1C4
(204) 942-6568


Salvation Army
51 Morrow Ave,
Winnipeg, Manitoba MB R2M 1A5,
(204) 946-9152


Debt Consolidation Loans
Loans Canada
Debt Relief Loans


Consumer Proposal
Consumer Proposal Loans


Credit Reports
Credit Verify


Contact Information for Credit Counselling Services in Winnipeg, MB:

Credit counselling sessions typically happen over the phone; however, if you’d like to get free counselling in person, you can call or email us to make an appointment to visit our Winnipeg offices.
Phone: (844)-326-3680
Email: [email protected]

Where to find us:

Location (by appointment only):
201 Portage Avenue, 18th Floor
Winnipeg, Manitoba R3B 3K6