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!

Credit Counselling Services in London, ON

Ontario may be the largest 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 London, Ontario 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 London 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 London, ON?

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

Debt Consolidation Options in London, ON

As a citizen living in London, 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 London here.

Options for a Consumer Proposal in London

To file a consumer proposal, London 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 London, 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 London today.

How Bankruptcy works in London

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


In 2021, 353 London residents reached out to to finally tackle their debt problems. They were struggling with an average debt load of $19,480 but now have the help they need to get their finances, and their life, back on track.

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Resources Available in London, 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:

London Service Canada Centre
Dominion Public Building
457 Richmond Street
London, Ontario
Available Services:
- Unemployment Assistance
- Child Benefits
- Senior Assistance

London Veterans Affairs
417 Exeter Road
London, Ontario
(866) 522-2122

CRA - Canadian Revenue Agency
451 Talbot St, London, ON N6A 5E5
(519) 645-4131

CMHA Middlesex Mental Health & Addictions Crisis Centre
648 Huron St,
London, ON N5Y 4J7
(519) 434-9191

Better Business Bureau Serving Western Ontario
190 Wortley Rd #206,
London, ON N6C 4Y7
(519) 673-3222

St. Paul's Social Services
472 Richmond St,
London, ON N6A 3E6
(519) 434-8979

London Employment Help Centre
1275 Highbury Ave N,
London, ON N5Y 1A8
(519) 659-1400

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 London

Q3 2021 Q2 2021 Q3 2020
Bankruptcies 73 103 73
Consumer Proposals 232 231 201
London in Total 305 334 274


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
Insolvency 4.9 4.2 4.2 4.5 3.2
Bankruptcy 2.2 1.7 1.6 1.5 0.9
Proposal 2.8 2.4 2.6 2.9 2.3

Data from 2020 in London, ON

2020 Data
Population 383,822
Average Credit Score -
Median Income $83,880
Average Home Price $344,815
Median Mortgage -
Avg. Non-Mortgage Debt -
Total Insolvencies: 1,340 *(- 40%)
Av Assets / Insolvency $46,888 (+ $11,294)
Av Liabilities / Insolvency $70,065 (+ $5,911)
Debt Ratio: 149% (- 31%)
Bankruptcies 402 (- 57%)
Av Assets $18,165 (+ $1,625)
Av Liabilities $73,294 (+ $6,495)
Debt Ratio: 403% (- 1%)
Consumer Proposals
Consumer Proposals 938 *(- 33%)
Av Assets $59,198 (+ $13,916)
Av Liabilities $68,682 (+ $5,872)
Debt Ratio: 116% (- 23%)

* % change from 2019

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About London

A Brief History of London, Ontario

London's history dates back to the late 1700s when the first European settlement began. In 1793, Lieutenant-Governor John Graves Simcoe chose the area as the future site for the capital of Upper Canada. Simcoe named the village, but initial plans to make it a capital failed to come to fruition, and the settlement didn't occur until 1826. London did, however, develop into a significant transportation and industrial hub throughout the mid-19th century thanks to its interlake location.

In 1961, London annexed many of its surrounding communities, adding tens of thousands of people more than doubling its size. Following this, suburban growth in London expanded and the city grew quickly, creating several subdivisions around it. Today, London is considered to be the sixth-largest city in Ontario.

What is Unique About London, Ontario?

London is located in Southwestern Ontario approximately 200km west of Toronto, at the fork of the Thames River between Lake Huron and Lake Erie with a population of just over 400,000.

The city of London is a separate municipality and has grown over the years to become the largest southwestern Ontario municipality, having amalgamated with many smaller communities surrounding it.

London is known as the "Forest City," which was nicknamed by the British Government as a joke because of the city's initial plans to be a prosperous city carved out of the middle of a forest of trees.

Compared to other southern Ontario cities, London's cost of living is rather low, making it an attractive location for lower real estate prices without sacrificing culture and employment opportunities.

What is London Famous For?

London is home to the University of Western Ontario, which is ranked as one of the top research-intensive universities in Canada and among the top 1% of universities across the globe. "Western," as it's commonly referred to, is recognized worldwide for its academic excellence and leadership development, particularly in terms of medical research, and it is central in London's cultural landscape.

London is also known for its many attractions and festivals, including SunFest, the Western Fair, the London Ontario Live Arts Festival, the Home County Folk Festival, the London Fringe Theatre Festival, and the London Rib Fest, which is the second-biggest BBQ rib festival in North America.

The art scene in London is also vibrant thanks to the likes of The Forest City Gallery, the Museum of Ontario Archaeology, and the Secrets of Radar Museum. London is also home to the Grand Theatre, a professional proscenium arch theatre that boasts an award-winning architectural design and hosts a variety of groups and performances.

Economic Developments

London's predominant economic drivers include medical research, manufacturing, insurance, and information technology, much of which is supported by the University of Western Ontario. This prestigious public university adds approximately $1.5 billion to London's economy every year.

Recent Changes That May Have Changed the Economic Outlook

London is increasingly being known as a technology hub with over 300 technology companies calling the city home. While manufacturing is still a large contributor to London's economy, technology is steadily taking over, with many tech companies moving into former industrial spaces. It is this particular sector that is changing London's overall economic landscape.