DEBT.CA IS CANADA'S TRUSTED SOURCE FOR DEBT RELIEF

At Debt.ca, we understand that people might find themselves surrounded by debt for many reasons including job loss, reduced income, medical expenses, or even the rising costs of raising a family. And when faced with a mountain of consumer debt, it is quite easy to become overwhelmed and to believe that you will never be able to pay off your creditors. The high-interest rates associated with consumer debts, late fees for those who are behind on their payments, and much more can seem to conspire against your attempts to become debt free. That is why we want to help all Canadians better understand their debt relief options and save the most money while they get out from under their unsecured loans. Are you struggling with debt or trying to figure out which Canadian debt relief program will help you get out of debt in the quickest amount of time and for the least amount of money? If so, let us show you that you can live a life free of bills and you do have more options than you probably realize. Simply put, if you are paying out more money every month than you have coming in, we can get you to a professional who can help. Fill out the form above to get started today!

CREDIT COUNSELLING SERVICES IN Chatham-Kent

Ontario may be the largest Canadian province in terms of population, but its residents are fortunate that they do not carry the largest average amount of consumer debt per capita. As of the end of Q1 2019, residents of Ontario had an average debt level of just under $24,032, up 4.5% from the same period in 2018 but down from the peaks earlier in the decade. These debt levels are comparable with other major provinces around the country however well under the highest debt-laden province which is Alberta. If you live in the Chatham-Kent region 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 are looking for. A quality Chatham credit counselling program can help you get out from under your debt and shore up your financial future at the same time.

Would a DMP work for residents of Chatham-Kent

Residents of Chatham-Kent, ON often confuse debt management plans with credit consolidation, because they have some similarities. For instance, both programs entail converting several debts into one monthly payment for ease of tracking. However, you still owe the original creditors when you enroll in a debt management plan (DMP). Conversely, you only owe one entity when you participate in a debt consolidation loan. If you’re considering a DMP in Chatham-Kent, you must have a steady source of income. While DMPs serve those with more than $10,000 of debt, homeowners may have to cash out equity instead. Likewise, individuals who have funds in their RRSP may have to use those funds to pay off the debt in lieu of enrolling in a debt management plan. Speak to a counsellor in Chatham-Kent to determine if a DMP is the right option for you.

Debt Consolidation Options in Chatham-Kent

As a citizen living in Chatham-Kent, it’s not uncommon to fall on hard times. If you’re experiencing difficulty keeping up with your financial obligations, debt consolidation may be your best option to get back on track. As such, consolidating your unsecured debts can make managing your payments easier. For example, multiple credit card debts and other liabilities combine into a single monthly payment. This makes it easier to prepare for and remember when just one due date is approaching every month. In addition, that single payment can be more manageable, with a lower interest rate than the existing rates on your different debts. While there are different ways to consolidate your debt, the most common way is through procuring a loan. However, your ability to qualify for a consolidation loan depends on your current credit score. Learn more about the debt consolidation process in Chatham-Kent here.

Options for a Consumer Proposal in Chatham-Kent

To file a consumer proposal, Chatham-Kent residents must go through a Licensed Insolvency Trustee in the area. Consumer proposals allow their participants to pay back less than what they owe to their creditors. Despite how good that sounds, it comes with some drawbacks and should be a last resort, much like bankruptcy. To qualify for a consumer proposal in Chatham, individuals must know to owe more than $250,000. Likewise, a married couple filing jointly cannot have more than $500,000 in debt. Paying less than what you owe at a lower interest rate comes with some heavy consequences. For one, your credit score drops to the absolute lowest it can go. In addition, the consumer proposal will remain on your credit report up to three years after you complete the five-year program. This can make acquiring credit or buying a home or auto more difficult. Speak to a member of our team who understands the laws regarding consumer proposals in Chatham, ON today.

How Bankruptcy works in Chatham-Kent

Many people living in Chatham-Kent, ON can find it difficult to keep up with the cost of living. If your debts have been piling up to an unmanageable amount, declaring bankruptcy might be the solution to your money troubles. However, one must never take bankruptcy lightly, as it is only a last resort. Speaking to a Licensed Insolvency Trustee can shed some light on your options and inform your next steps in finding a fitting solution. Remember, declaring bankruptcy gets most of your debts forgiven, however you forfeit most of your valuable assets in return. In addition, you will no longer experience wage garnishments. Conversely, you may not be able to obtain credit for seven years, and there is a limit on how much you can earn during bankruptcy. If you’re thinking about filing for bankruptcy in Chatham-Kent, call us to speak with a professional who can help.

You are not alone

In 2020, 97 Chatham residents reached out to debt.ca to finally tackle their debt problems. They were struggling with an average debt load of $18,912 but now have the help they need to get their finances, and their life, back on track.

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Resources Available in Chatham-Kent, Ontario for people needing debt relief help

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 organizations, you can turn to:

Chatham Service Canada Centre
120 Wellington St W,
Chatham, ON N7M 4V9
(800) 622-6232
Available Services:
- Unemployment Assistance
- Child Benefits
- Senior Assistance

Royal Canadian Legion Branch 185
34 Catherine St,
Blenheim, ON N0P 1A0
(519) 676-2068

CRA - Canadian Revenue Agency
1050 Notre Dame Avenue
Sudbury ON P3A 5C1

United Way Of Chatham-Kent
425 McNaughton Ave W
Chatham, ON N7L 4K4
(519) 354-0430

Canadian Mental Health Association
240 Grand Ave W,
Chatham, ON N7L 1C1
(519) 436-6100

The Salvation Army Chatham-Kent Community & Family Services
19 Raleigh St,
Chatham, ON N7M 2M6
(519) 354-1430

Employment Ontario
https://www.ontario.ca/page/employment-ontario
(416) 326-5656

Debt Consolidation Loans
Loans Canada - Debt Relief Loans

Home Equity Loan for Debt Consolidation
Morgix - HELOC Loans

Consumer Proposal
Marble Financial - Consumer Proposal Loans

Credit Reports & Monitoring
Credit Verify

TransUnion Credit Report Disputes
Phone: 1-800-663-9980 (English) | 1-877-713-3393 (French)
TransUnion


Credit Counselling Resources in Additional Ontario Cities:

Insolvency Stats for Chatham-Kent

2018 Data
Population 164,926
Average Credit Score -
Median Income $64,481
Average Home Price $254,000
Median Mortgage -
Unemployment Rate 6.2%
Insolvency
Total Insolvencies: 878
Av Assets / Insolvency $89,414
Av Liabilities / Insolvency $100,451
Debt Ratio: 112%
Bankruptcy
Bankruptcies 339
Av Assets $50,687
Av Liabilities $92,699
Debt Ratio: 183%
Consumer Proposals
Consumer Proposals 539
Av Assets $113,770
Av Liabilities $105,327
Debt Ratio: 93%

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About Chatham-Kent

A Brief History of Chatham-Kent

Chatham was founded in 1794 when it was initially a navy dockyard. It is one of the oldest communities in western Ontario. It was supposed to be a military settlement, but that never came to fruition. The steady settlement did not occur in the area until the 1830s.

Chatham helped with anti-slavery in the 1850s. It was one of the stops on the Underground Railroad, which is how slaves escaped to Canada from the US. Because of this, Chatham-Kent is part of the African-Canadian Heritage Tour. Chatham was known as the "Black Mecca of Canada" by the 1850s. There is a museum with that name in Chatham.

Chatham became a town in 1855.

What is unique about Chatham?

Chatham-Kent is a city in Southwestern Ontario located on the Thames River. It is 80km east of Windsor and is a predominantly rural area.

The city was once known as Wallaceburg. It has a population of 105,500, comprised of many municipalities, including the City of Chatham and Kent County. The current town came about in 1998 when Kent County and its municipalities combined.

There are two provincial parks in Chatham-Kent; Wheatley and Rondeau parks. One of Ontario's oldest lighthouses is on the Thames River in Chatham. Popular for vacationers, it is known for its many long, sandy beaches.

What’s Sudbury Famous for?

Chatham-Kent is famous for its traditional festivals that take place throughout the year. It is also known for its many historic buildings used in the yearly ghost tour at Halloween. These tours consist of people going on a walk downtown with a guide who tells them ghost stories.

The Buxton Homecoming happens every September. It is a celebration of a black culture because of early black settlers in the area.
Other notable things in the area include:

  • Buxton National Historic Site
  • Rondeau Provincial Park
  • University of Guelph
  • St. Clair College

What are the Large Economic Drivers?

The primary industry in Kent County was lumbering. Then it became a marketing centre for the agricultural area.

Chatham-Kent now has a lot of marketing and retail activity. There is also lots of administration in Chatham. Other vital industries to the economy include:

  • Automotive
  • Manufacturing
  • Post-secondary education
  • Chemicals
  • Energy
  • Government offices

Recent Changes that May have Changed the Economic Outlook

Biotechnology is becoming more important to Chatham-Kent's economy. There are many biotechnology companies there. Many people who live in Chatham-Kent work for these companies.

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