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Debt Relief Solutions in Toronto, ON

Residents of Toronto, Ontario have reduced their payments by up to 50% by contacting for help. will evaluate your situation and refer you to qualified and vetted professionals based on the solution that will work best for you.

Reduce Your Payments By Up To 50%

Lower Your Interest Rates

Make One Low Monthly Payment For All Your Debt

Debt Free in as little as 24 – 48 Months

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Canadian Debt Relief

Credit Counselling

Debt Management Plans

Debt Consolidation

Consumer Proposal


Not Alone is Canada’s trusted source for debt relief

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 your 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.

Unfortunately, the picture is not all roses for the residents of Toronto as they currently have the highest unemployment rate (8.8%) in all of Canada. If you live in Toronto 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 Toronto credit counselling program can help you get out from under your debt and shore up your financial future at the same time.


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


As a citizen living in Toronto, Ontario 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 Toronto, Ontario here.


To file a consumer proposal, Toronto 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 Toronto, Ontario individuals must not 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 Toronto today.


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


In 2021, 587 Toronto residents reached out to to finally tackle their debt problems. They were struggling with an average debt load of $19,585 but now have the help they need to get their finances, and their life, back on track.

Get on the path to debt freedom

Resources available in Toronto, ON 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:

Toronto – City Hall Service Canada Centre

City Hall, Floor 1
100 Queen Street West
Toronto, Ontario
Available Services:
– Unemployment Assistance
– Child Benefits
– Senior Assistance

CRA – Canadian Revenue Agency

1 Front St W,
Toronto, ON M5J 2X6
(800) 267-6999

Toronto Veterans Affairs

2075 Bayview Avenue, K-Wing
Toronto, Ontario
(866) 522-2122

Daily Bread Food Bank

191 New Toronto St,
Etobicoke, ON M8V 2E7
(416) 203-0050

Canadian Mental Health Association

700 Lawrence Ave W #480
Toronto, ON M6A 3B4,
(416) 789-7957

Salvation Army

1645 Warden Ave
Toronto, ON M1R 5B3
(416) 321-2654

Debt Consolidation Loans

Loans Canada – Debt Relief Loans

Insolvency stats for Toronto


Q3 ’22Q2 ’22Q1 ’22Q4 ’21
CONSUMER PROPOSALS3,0102,834 2,5542,510
TORONTO TOTALS3,6133,5003,0993,182


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

  2017 2018 2019 2020 2021
INSOLVENCY 3.4 3.4 3.8 2.9 2.5
BANKRUPTCY 1.4 1.3 1.3 0.8 0.6
PROPOSAL 2.0 2.1 2.6 2.1 1.8
INSOLVENCY 2.9 2.9 3.4 2.7 2.2
BANKRUPTCY 1.0 0.9 0.9 0.6 0.5
PROPOSAL 1.9 2.0 2.5 2.1 1.7


2020 DATA
TOTAL INSOLVENCIES:13,793 *(- 24%)
AV ASSETS / INSOLVENCY$57,187 (- $5,407)
DEBT RATIO:159% (- 1%)
BANKRUPTCIES3,094 *(- 50%)
AV ASSETS$21,471 (- $5,862)
AV LIABILITIES$113,934 (- $6,355)
DEBT RATIO:531% (+ 91%)
AV ASSETS$67,515 (- $8,148)
AV LIABILITIES$84,447 (- $8,557)
DEBT RATIO:125% (+ 2%)

* % change from 2019

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The most unique thing about Toronto is its level of diversity culturally. Residents of the region are known to be welcoming and accepting of people from all walks of life. There are also many parks and natural sceneries within Toronto which is how it got its slogan “A City within a Park”. Toronto has quite an artistic and liberal community which has made the region an exciting and vibrant place to live.


The site of Toronto was originally inhabited by Indigenous Peoples who hunted animals and fish. Over time they also began to farm with the introduction of corn. Due to changes in the climate and land, these Peoples migrated to close-by regions several times. The name Toronto comes from the Mohawk word “tkaronto” which translates to “where there are trees standing in the water”.

Several thousand years ago, both Indigenous Peoples and French fur traders discovered the Toronto Passage, a shortcut between Lake Ontario and Georgian Bay. This led to trade within the site of Toronto and a more permanent settlement of the area. Due to the settlement, many merchants, craftsmen and labourers were attracted to the area thereby turning it into a local market centre.

Over time, Toronto began to grow as more business was brought into the region. Eventually, the area turned into a commercial space which brought in the banking industry. Other industries and adaptations to the area currently include agriculture, gaslighting, clothing, sewers, publishing, foresting, mining and manufacturing.

In the 1900s, Montreal still held the lead as the most promising Canadian city. However, Toronto was still doing well for itself considering all the trade and industry it had attracted. In the mid-1900s, the city and population at the end of the Second World War.

The growth resulted in the subway system, preservation of parks, and construction of drainage systems to ensure sustainability. Toronto became a megacity, even surpassing Montreal, to become what it is today.


Toronto is the capital of Ontario and is known for many things, including:

• CN Tower
• Toronto Raptors
• Toronto Islands
• Distillery District
• Maple Leafs
• Drake (the rapper/entertainer)
• High Park
• Royal Ontario Museum
• Toronto International Film Festival
• Casa Loma
• Kensington Market
• The Eaton Centre

The above list does not represent all the city’s points of note or attractions. Perhaps this is a testament to Toronto’s fame because it is famous for many other things.


Toronto has many economic drivers including design, aerospace, education, events, fashion, entertainment, finance and banking, cuisine, environment, medicine, technology, and tourism. In recent years, Toronto has gained much attraction and become an internationally recognized city. This has brought Toronto great success, but it is also a stressful and competitive place to live now.

Recent Changes that May have Changed the Economic Outlook

Toronto’s industries are booming right now, however, this results in fierce competition. This means it can be challenging for individuals to get a good job if they don’t have precise skill sets or appropriate connections.

The cost of living in Toronto has experienced a massive increase in the past decade due to the demand of people wanting to live in the area. As a result, housing prices and the general cost of living are quite unaffordable for most.



2022 Ontario Tax Brackets

Residents of Ontario are required to pay both Federal and Provincial Income Tax each year on your total taxable income.

Each Province sets their own bracket thresholds.

For Ontario:

5.05% on the portion of your taxable income that is $46,226 or less 
+ 9.15% on the portion of your taxable income between $46,227 and $92,454 
+ 11.16% on the portion of your taxable income between $92,455 and $150,000 
+ 12.16% on the portion of your taxable income between $150,000 and $220,000 
+ 13.16% on the portion of your taxable income that is more than $220,001


If your total taxable income came out to be exactly $150,000, your provincial tax amount owed would be $12,986.

5.05% * $46,226 = $2,334.41 plus
9.15% * $46,227 ($92,454 – $46227) = $4,229.77
11.16% * $57,545 ($150,000 – $92,455) = $6,422.02

Provincial tax owed = $2,334.41 + $4,229.77 + $6,422.02= $12,986