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How Debt Relief Works in Ontario 2023 [Post Covid-19]

Given the increase in unemployment and decrease in income faced by individuals and businesses due to efforts to stop the spread of COVID-19, many Ontarians might find themselves strapped for cash or having to rearrange their budgets. There’s also the worst case scenario where they find themselves or their loved ones in need of medical treatment before the pandemic is over.

We helped thousands of Ontarians reduced their debts up to 75% with our personalized Debt Relief Program approved by the Ontario Government to help citizens get out of debt fast and in a secured way.

Know more about us and what we can do by clicking on the button below…

You're not alone

Helped with $ 27,000 $ 41,500 $ 35,000 $ 17,000 $ 23,500 $ 46,340 $ 21,000 $ 35,000 $ 26,700 $ 65,500 $ 57,400 $ 17,500 $ 75,500 $ 63,000 $ 35,000 $ 18,500 $ 55,000 $ 85,500 $ 43,000 $ 29,500 $ 27,800 $ 41,200 $ 35,800 $ 85,000 in debt

1 day 3 days 3 days 8 days 7 days 6 days 12 days 9 days 3 days 6 days 1 day 4 days 2 days 1 day 7 days 5 days 8 days 6 days 12 days 16 days 5 days 8 days 2 days 7 days ago in debt in

Orillia Huntsville Peterborough Toronto Brampton Kitchener Mississauga Hamilton Belleville Kingston Cornwall Oshawa Ajax St. Catharines London Sarnia Windsor Sault Ste. Marie Elliot Lake Sudbury North Bay Timmins Thunder Bay Ottawa

Debt Relief Ontario

According to an Angus Reid online survey, 25 percent of Canadians said that they are in bad financial shape due to the COVID-19 pandemic. On top of that, 25 percent of households say that they have lost work.

While the government of Canada is offering financial assistance to many of those affected by the pandemic and who have lost income, including a mortgage payment deferral, the number of Canadians who are struggling financially will probably increase before this is all over.

And, even when the pandemic ends, many more Canadians in and around Ontario are going to find themselves struggling to get out of debt.

Why do people get into debt?

Taking out a loan or using a credit card doesn’t automatically lead to debt. As long as you budget carefully and make sure you meet your monthly payments, you can avoid debt. The problem is when your financial circumstances make it difficult to meet your loan payments.

If you had loans before the pandemic, there’s a good chance that during the pandemic you might need to let those payments slide a bit – either because you can’t afford them or because you needed to allocate your money elsewhere first.

If you didn’t have loans before the pandemic, circumstances might lead to you having to take out a loan to get through and there’s a good chance that before the pandemic is over you will find yourself struggling to make your loan payments.

Both these two scenarios of getting into debt in Ontario post COVID-19 are very probable. While letting your loan payment’s slide is a bad idea that will not only lead you into debt but will also have a negative effect on your credit score. 

Thus, you’re probably going to find yourself wishing and looking for some debt relief before and after the pandemic is over.

How do loans lead to debt?

Say that you had a car loan before the COVID-19 pandemic and you set aside 10% of your income to pay for that car loan. 

Car Loan Debt

Then, you needed to make some roof repairs so you took out a home improvement loan, so you need to set aside another 10% of your income for the loan payments. 

So that’s 20% off your income in order to cover both loan payments.

Credit Counseling Agency

Monthly Income – 20% = Money you can spend

If your income got smaller during the pandemic, because you lost your job, then you are going to have even less money to budget. You may have to defer in your loan payments and eventually fall into debt if the money you have can only cover for food and utilities.

The longer you go not being able to pay your debts the worse it will get, almost all loans have interest rates, and this will add up to your monthly dues. This means that, your monthly dues increases every month – and if you miss your payments – more charges will be added which will make it even harder for you to pay off your loan.

The best way to get out of debt under these circumstances is to go to a debt settlement company or a credit counseling agency. The professionals in these organizations can help you negotiate with your creditors and come up with a plan so that you can pay back your debt.

In Canada, the most common type of debt relief is debt consolidation. What happens in debt consolidation is, you basically take out a loan to pay back multiple loans.

While this sounds counter intuitive, how can owing money to yet another creditor help get out of debt? But it actually works.

The way it works is it simplifies the debt payment process and – as debt consolidation loans have a lower interest rate than other types of loans – lessens the overall amount that you have to pay. 

Instead of paying multiple loans, you just need to make payments for one loan, the debt consolidation loan. This makes it quicker and easier to get out of debt.

Our Clients 5-Star Reviews

Shawn Whitla
Shawn Whitla
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“Going in I was very overwhelmed and anxious but after talking with Jennie and her taking me through it Ireally holding your hand and getting a sense that she really cares made the biggest difference in going through this process and I can’t thank her enough to getting me to the end of the stage because it’s such a relief to my life she’s amazing”
Stephen Crippin
Stephen Crippin
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“Antaisha was amazing on helping on me sort out my finances was very personable and did everything to fit my needs.”
Jessie’s King Leonard
Jessie’s King Leonard
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"Vanna Owens Took Amazing Care Of Me & Was Amazing At Her Job. I Would Totally Refer Her To Anyone. I Know A Friend Of Mine Will Be Calling Her Soon."

Top 5 Key Benefits of our Ontario Debt Relief Program:

To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.

Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.

Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!

Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.

We will help you compare
the options and savings of all formal debt relief programs available to you.


No contact details required to find out if you qualify

Frequently Asked Questions

A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.

Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.

No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.

The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.


This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.

If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.

After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.

A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score. 

National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.

Why Trust National Debt Relief Services?

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See What Our Customers Have To Say

Dawn Friesman
Dawn Friesman
I've been working with Allicia Macdonald shes very professional and sweet. I cant thank her enough for helping me rebuild my life. Thank you so much.
Chantal Rolfe
Chantal Rolfe
Today I had a wonderful experience with Rachael, she was Very professional I was very happy with what we talked about today she was very Caring I highly recommend national debt relief services hundred percent😃
Jennifer Magill
Jennifer Magill
Brittany was awesome, she explained everything clearly and offered solutions every step of the way. It’s always nice to hear that you could do this or that, I didn’t feel forced to do anything and was able to decide clearly. Thank you 🙏🏼
Dave Tonnos
Dave Tonnos
This company will work with you and through any difficulties that may arise. They actually hold themselves accountable, how refreshing during troubling economic times.
marian kamara
marian kamara
I have a great experience working with Suma, she work me through the program, takes her time to explain everything to me about how the program work, what I need to do from start to end of the process. I’m so thankful to God for sending an angel Suma to help relief my debt. It’s a great company to work with. I will recommend this program for anyone in debt like me.
Donna Hutchings
Donna Hutchings
Connie B. was absolutely awesome! She explained everything in detail to me. Very professional to work with and takes the time with you. She really has compassion. So glad she helped me out. Thank you
lynn collins
lynn collins
Joel has made this so simple and effortless he made sure i was well informed and making the right decisions for my situation i would recommend joel at national dept Relief to anyone in hardship with there bills thanks alot joel i really appreciate everything you have done for me thanks!! 5 stars for sure! and its chad ball not my mom lynn lol
Billy Bong
Billy Bong
I had a great experience with Brittany, so helpful and understanding. Never felt like I was being pressured or rushed into anything. She was always there with answers to my questions. Thanks for all the help and peace of mind you helped me achieve.
Amber-lyn Miller
Amber-lyn Miller
Let’s Just Put It Simple....... Not All Hero's Wear Caps........I spoke with Suma over a fairly lengthy period of time because of my busy schedule and lack of free time on my part, and she was not only extremely patient and understanding, but also beyond helpful And informative. Any question I had and no matter how many times she had to explain it to me she took her time to make sure I completely understood every single step and process before she moved on to the next thing. I have been so stressed out and worked up about my debt and trying to figure out how to fix it all since I know I will not be returning to work at all in the future because of medical issues and being 26 with that realization makes things just that more stressful but Suma made everything so easy and my payments are $100 a month for less then 5 years with no interest or penalties for early pay off. I’m so glad that I didn’t settle with some other place that was asking for $350 + a month for 7-12 years and paying off early would cost you more.
Jessica Preston
Jessica Preston
Caroline F. was phenomenal, she was so helpful, understanding and compassionate. Caroline did not make me feel bad for my mistakes, she was supportive and caring, she helped me through this dark time in my life I'm so incredibly happy I crossed paths with her. Thank you Caroline for being so wonderful to me! <3

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