At, 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!


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 Kitchener 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 Kitchener 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 Kitchener?

Residents of Kitchener, 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 Kitchener, 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 Kitchener to determine if a DMP is the right option for you.

Debt Consolidation Options in Kitchener, ON

As a citizen living in Kitchener, 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 Kitchener here.

Options for a Consumer Proposal in Kitchener

To file a consumer proposal, Kitchener 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 Kitchener, ON 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 Kitchener today.

How Bankruptcy works in Kitchener

Many people living in Kitchener 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 Kitchener, ON call us to speak with a professional who can help.

You are not alone

In 2021, 232 Kitchener residents reached out to to finally tackle their debt problems. They were struggling with an average debt load of $18,686 but now have the help they need to get their finances, and their life, back on track.

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Resources Available in Kitchener, 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:

Kitchener Service Canada Centre
Market Square, Suite 200
25 Frederick Street
Kitchener, Ontario
Available Services:
- Unemployment Assistance
- Child Benefits
- Senior Assistance

Royal Canadian Legion
601 Wellington St N,
Kitchener, ON N2H 5L6
(519) 742-7003

CRA - Canadian Revenue Agency
166 Frederick St,
Kitchener, ON N2H 0A9
(519) 579-2512

Canadian Mental Health Association
130 Weber St W #202
Kitchener, ON N2H 4A2
(800) 471-1732

Central Ontario Better Business Bureau
30 Duke St W #903
Kitchener, ON N2H 3W5
(519) 5793080

Goodwill Community Store & Donation Centre
1348 Weber St E,
Kitchener, ON N2A 1C4
(519) 894-0628

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)

Credit Counselling Resources in Additional Ontario Cities:

Insolvency Stats for Kitchener

Q3 2021 Q2 2021 Q3 2020
Bankruptcies 61 87 71
Consumer Proposals 224 196 192
Kitchener in Total 285 283 263



Annual Consumer Insolvency Rates in Ontario

(Per 1,000 Population Aged 18 Years and Older)

2016 2017 2018 2019 2020
Insolvency 3.6 3.4 3.4 3.8 2.9
Bankruptcy 1.5 1.4 1.3 1.3 0.8
Proposal 2.1 2.0 2.1 2.6 2.1
Kitchener – Waterloo – Barrie
Insolvency 3.7 3.5 3.7 4.1 3.0
Bankruptcy 1.6 1.4 1.4 1.4 0.8
Proposal 2.0 2.1 2.3 2.7 2.2

Data from 2020 in Kitchener, ON

2020 Data
Population 233,222
Average Credit Score 646
Median Income $91,580
Average Home Price $583,144
Median Mortgage -
Avg. Non-Mortgage Debt -
Total Insolvencies: 1,249 *(+9.1%)
Av Assets / Insolvency $46,550 (+ $1,287)
Av Liabilities / Insolvency $75,467 (+ $2,513)
Debt Ratio: 162% (+ 1%)
Bankruptcies 335 *(- 64%)
Av Assets $26,832 (+ $5,688)
Av Liabilities $94,245 (+ $12,561)
Debt Ratio: 351% (- 35%)
Consumer Proposals
Consumer Proposals 914 *(- 20%)
Av Assets $53,778 (- $3,612)
Av Liabilities $68,585 (+ $19)
Debt Ratio: 128% (+ 9%)

* % change from 2018

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About Kitchener

A Brief History of Kitchener

Kitchener's history starts in the late 1700s when the land that the city now sits on was given by the British to the Six Nations as a gift for their allegiance throughout the American Revolution. Following this gift, the Six Nations sold approximately 38,000 hectares of the land to Col. Richard Beasley, a Loyalist, who eventually sold the land to German Mennonite farming families from Pennsylvania.

By 1800, the first buildings were constructed in the area, and more and more families moved up to the land from south of the border. One of these families was the Schneiders, who settled in 1807 into a home that is still standing and considered the oldest building in the city. Today, it is a museum.

The Government of Upper Canada eventually designated the settlement the Township of Waterloo in 1816. By 1853, 'Berlin' as the land was then known for became the County Seat of the County of Waterloo, changing its status to a village. By 1912, Berlin had designated a city as the community boomed thanks to the extension of the Grand Trunk Railway between Sarnia and Toronto, with Berlin falling along the path. Industrialization expanded quickly as a result.

Because of the anti-German sentiment following the start of the First World War in 1914, the city was forced to change its cultural climate and set itself apart from its German heritage. In 1916, the name was changed to Kitchener after Herbert Kitchener, the Secretary of State for War of the UK who died that year while still in service.

What is Unique about Kitchener?

Located in Southwestern Ontario approximately 100km west of Toronto, Kitchener is part of the Regional Municipality of Waterloo, along with Cambridge and Waterloo. The city is often referenced along with Waterloo as "Kitchener-Waterloo," both of which are dubbed the "twin cities."

Kitchener is also conveniently located within close proximity to the US border, making it a convenient location for many who enjoy the convenience of being close to both the Toronto downtown core and the border to the United States.

Kitchener has a strong German influence thanks to its roots from early German settlers who arrived from the US looking for land to farm.

What is Kitchener Famous for?

One of the most notable things about Kitchener is its annual nine-day Oktoberfest Festival, which has been hailed as the second-largest Oktoberfest in the world and Canada's Greatest Bavarian Festival. This classic German event stems from its roots from its German settlers and is not only well-known for its beer-based celebrations but other cultural and entertainment attractions as well, including its parade held on Thanksgiving Day.

Kitchener's cultural scene is made up of much more than its annual Oktoberfest celebrations. Many attractions make this city a vibrant one, including The Museum, which offers several interactive exhibits designed for all ages. Centre in the Square is Kitchener’s predominant arts and performance venue that boasts the largest theatre in the Waterloo Region and is home to the Kitchener-Waterloo Symphony Orchestra.

There are also many outdoor attractions in Kitchener, each of which offers a glimpse into the city's heritage, such as Chicopee Ski Resort and Victoria Park. Other heritage sites include Doon Heritage Village, the Joseph Schneider Haus, and the Homer Watson House and Gallery.

Economic Developments

A good deal of Kitchener's economy stems from the education and technology sectors. Several tech companies call the Waterloo Region home, including BlackBerry, Maplesoft, OpenText, and Kik. The area also boasts two of the larger and more prestigious universities, Wilfrid Laurier University and the University of Waterloo, each of which not only supply a great deal of employment but are also instrumental in the area's leadership in the world of technology.

There are also many other major corporations that provide a great deal of employment in Kitchener, including Toyota Motor Manufacturing Canada, Manulife Financial, Sun Life Financial, and ATS Automation Tooling Systems.

Recent Changes That May Have Changed the Economic Outlook

These days, the Waterloo Region - including Kitchener - is also undergoing significant commercial growth. In particular, it's the area's two universities that serve as major contributors to the city's high-tech growth. The area is so successful in this particular sector that it has been dubbed "Canada's Silicon Valley."