Debt Management in Action: Ontario

See how we’ve helped others with debt management services in Ontario.

This page will help you know how debt impacts you and other Ontarians in your province. We also show you case studies of clients we’ve helped over the years with managing their debt.

If you need help with your debt management, call us at (844)-402-3073 or complete our easy debt analysis from your phone.

Debt statistics in Ontario

The unemployment rate of Ontario is 6.4 per cent which is 0.4 below the national average. Although, the unemployment rate is trending lower in Ontario, youth unemployment as well as employment for men is trending higher. This current employment trend could be a direct result of various American manufacturers and retailers closing shop in Ontario. Given these challenges, it leaves many Ontarians vulnerable to debt. Here are some highlights:

  • Average credit card debt: $13,234 per borrower
  • Average student debt: $12,318
  • Average mortgage debt: $409,421
  • Average consumer debt (non-mortgage): $86,386

All of the above statistics are from Statistics Canada.

Insolvency Statistics

Canada20202019% Change
– Total Insolvencies96,458137,178-30%
– Consumer Proposal63,57882,769-23%
– Bankruptcy32,88054,409-40%
Ontario20202019
– Total Insolvencies33,99244,852-24%
– Consumer Proposal24,77930,275-18%
– Bankruptcy9,21314,577-37%
Source: ic.gc.ca

Real Case Studies


Alexander is thankful he called

My Experience with Consolidated Credit has been awesome. I was in so much stress and as soon as I was talking with my consultant, I felt a lot better. They are really kind and very understanding and were able to come up with a solution for me that made sense and made things so much easier. I appreciate all the help and this program is something I would 100% refer friends and family too. Everyone deserves to be debt free. Thank you.

Alexander from Toronto, ON

Where he started:

  • Total unsecured debt: $12,063.00
  • Estimated interest charges: $6,138.53
  • Time to payoff: 11 years, 1 months
  • Total monthly payments: $491.32

After DMP enrollment:

  • Average negotiated interest rate: 0%
  • Total interest charges: $0.00
  • Time to payoff: 3 years
  • Total monthly payment: $333.00

Time Saved: 8 years, 1 months

Monthly Savings: $158.32

Interest Saved: $6,138.53


Shane saw immediate results

I can’t believe that I called on a Thursday and by that Saturday I already started to see results. I was hesitant to get help because I didn’t want to make a mistake, but now I’m sure that I called the right people to help me. The services that I got was far beyond my expectations. I will start sleeping better at night knowing that Consolidated Credit is looking after me.

Shane S from Mississauga, ON

Where he started:

  • Total unsecured debt: $50,597.73
  • Estimated interest charges: $29,335.54
  • Time to payoff: 14 years 9 months
  • Total monthly payments: $2,023.19

After DMP enrollment:

  • Average negotiated interest rate: 1.25%
  • Total interest charges: $847.40
  • Time to payoff: 3 years, 8 months
  • Total monthly payment: $1,171.00

Time Saved: 11 years, 1 month

Monthly Savings: $852.19

Interest Saved: $28,488.14

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