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The 10 Best Debt Relief Companies in Canada

By Paul Murphy

Here’s a breakdown of the 10 best debt relief companies in Canada using review data available on the independent site Trustpilot.

About the author:

Paul Murphy is a debt and credit rebuilding expert at 4 Pillars.

4 Pillars Financial Wellness is the largest independent debtor advocacy firm in Canada focusing on financial education and financial literacy.

With over 50 offices across Canada, we have local experts you can meet face-face with access to the most comprehensive range of industry-related services and the highest success rate in the industry for dealing with consumer debt.

Before joining 4 Pillars, Paul had a 20-year career in the investment and banking industry, helping him offer a unique perspective to Canadians navigating complex financial crises. Paul is the author of the book Beating the Debt Game.

What are the best debt relief companies in Canada?

I did an analysis of review data from the top 10 debt relief providers in Canada to help you select the best debt relief program.

Each of the Canadian debt relief companies below is ranked by Trustpilot under the ‘Best in Debt Relief Service’ category based on reviews by Canadian consumers and evaluated on a variety of factors including their debt relief process, number of reviews and rating of the reviews.  

In order to help you evaluate which is truly the best option for you, I provided a description of what services each company provides.

The description under each company is taken directly from Trustpilot, so that you can see how the companies prefer to describe their services.

The companies below can be broken down into three categories.  

Non-Profit Credit Counseling

Debtor Advocacy 

Licensed Insolvency Trustee

Let’s look at each in more detail and review the different debt relief companies in these categories.

The verdict:

I believe that the best type of debt relief company to choose falls into the Debtor Advocacy Services category.

These debt relief companies are often independent and free from pressure and funding by banks and credit card companies.

As a result, you might get a more tailored plan that best fits your debt situation. For some of you, this could mean a larger debt reduction amount and a faster path to financial recovery.

Option #1: Non-Profit Credit Counselling Companies

Let’s start with the first type of debt relief company you get debt advice from. These are non-profit counselling services.

Credit counselling services are provided in Canada by non-profit organizations and credit counselling businesses to help persons who are experiencing financial difficulties.  

An assigned credit counsellor will address your financial situation as it relates to your income, expenditures, and debts. They will work with you to create a sound budget based on your income and expenses. 

They’ll help you comprehend your financial responsibilities and educate you on basic money management. 

Based on your financial assessment and debt review, the credit counsellor could recommend a Debt Management Plan (DMP).  

If you move forward with a DMP, they will speak with your creditors on your behalf to reduce interest rates and consolidate all your debts into a single monthly payment to the credit counselling agency.

Credit counselling does not reduce your overall debt in Canada and does not include all debts such as CRA, so instead, you may want to consider a consumer proposal or another option. 

Credit counselling in Canada is listed as an R7 on your credit record. This means it is damaging to your credit.

Credit counselling businesses typically receive funding from creditors, which might present a conflict of interest

The most well-known debt relief company in this category in Canada is called Consolidated Credit. You can find their locations in many Canadian cities.

Option #2: Licensed Insolvency Trustees (LITs)

A Licensed Insolvency Trustee (LIT) is a person licensed by the Superintendent of Bankruptcy in Canada to administer proposals and bankruptcies and manage assets held in trust.

The trustee can give a debtor information and advice about both the proposal and bankruptcy processes and make sure that both the debtor’s rights and the creditor’s rights are respected.

Technically, any Licensed Insolvency trustee in a province can help file for bankruptcy. All bankruptcy trustees in Canada are licensed by the Federal Government.

So basically, a LIT is the only person that can file a bankruptcy or consumer proposal which are both viable options to deal with unmanageable debt. 

LITs are an officer of the court and have a duty to both the debtors and their creditors. 

Here are some of the debt relief companies in the LIT category.

A Farber

Pierre Roy & Associés

Sands & Associates

MSI Spergel

David Sklar & Associates Inc.

Jean Fortin & Associés

Fontaine & Associates

Option #3: Debtor Advocacy Services

The final category of debt relief companies in Canada is debt advocacy services.

In Canada, every debtor has the right to have a dedicated representative who looks out solely for their interests.  

A debtor advocate works within the debtor’s best interests and assists them in resolving their debt issues; educates the debtor and offers the debtor tools to help them achieve financial stability.

A debtor advocate will review all the options available to deal with overwhelming debt, this will include options other than a DMP or consumer proposal/bankruptcy and when required will help the debtors implement their chosen debt solution by working closely with other companies in the industry.  

A debtor advocate can provide additional services after the resolution of debt to help create long-term financial stability and improve overall financial literacy to help ensure you do not face financial challenges in the future, these services include financial literacy education, budgeting and money management, credit report analysis, and credit rebuilding.

A reputable debtor advocate should never charge a fee for debt advice and should be a member of the Canadian Debtors Association. 

Now you understand each category everyone falls into, here’s the list of best debt relief companies in Canada.

4 Pillars Financial Wellness Advocates 

TrustScore 4.9|3,181 reviews

About 4 Pillars

Since 2002, 4 Pillars has been educating and advocating for consumers to help them resolve financial crises and rebuild their financial future.

4 Pillars have helped consumers to find solutions to successfully resolve billions of dollars of unmanageable debt for over 50,000 consumers across Canada.

On average, our consumers have been able to find solutions to eliminate 80 percent of their debt.

With 4 Pillars, we review and educate consumers on all the options available to deal with debt and remove financial stress and provide programs to improve their creditworthiness.

4 Pillars advocates for the debtor—not the creditor. We’re one of the only companies in the industry with this approach of educating debtors on all options for resolving financial crises so they can make informed decisions.

Our services focus on providing programs and support to put debtors back on track and recover from financial challenges, help them rebuild their credit, and give them the tools to effectively manage their finances.

With Trustpilot, you can read independent reviews of 4 Pillars.

Every review is verified by Trustpilot, ensuring all reviews are genuine and accurate. If you’re interested in 4 Pillars, we have offices coast to coast all across Canada. www.4pillars.ca/locations

Consolidated Credit Counseling Services of Canada Inc.

TrustScore 4.9|6,346 reviews

I included the information below as provided by the company on Trustpilot.

Consolidated Credit Counseling Services of Canada Inc. is a national non-profit credit counselling organization that educates consumers about personal finance and has helped over 500,000 Canadians tackle their debt. 

Consolidated Credit’s unbiased debt-counselling service offers alternatives to help people get their debts under control. 

Alongside consolidating payments, Consolidated Credit’s counsellors focus on education and understanding. Strategies include teaching basic, but vital concepts, such as how to budget, understanding credit, and how to manage money.

Farber Debt Solutions

TrustScore 4.9|3,638 reviews

I included the information below as provided by the company on Trustpilot.

With over 40 years of experience, we understand the stress that debt can put on all aspects of life.

What can you expect?

1. A free, no-obligation, consultation with an experienced professional who wants to hear about your current situation and what’s stressing you the most.

2. A genuine, straightforward and non-judgemental partnership, focused on helping you find the right debt solution for your unique situation.

3. Whichever debt solution is best for you, we’ll be your partner, along your side until your final payment – and beyond.

What will we do?

1. Stop all collection calls and legal action immediately, protecting you legally from the companies you owe money to.

2. Immediately freeze interest and late fees on your debts.

3. Negotiate the largest debt reduction that is fair, working with you on what you can afford.

4. Provide credit counselling where you’ll learn how to have a better relationship with money.

Pierre Roy & Associés

TrustScore 4.9|2,472 reviews

I included the information below as provided by the company on Trustpilot.

Pierre Roy & Associés est un bureau de conseillers en réorganisation financière et syndics autorisés en insolvabilité (SAI) fondé en 1990 et ayant 39 bureaux au Québec. L’entreprise vient en aide aux personnes aux prises avec des problèmes financiers et leur offre des solutions pour se libérer de leurs dettes.

Sands & Associates

TrustScore 4.9|1,569 reviews

I included the information below as provided by the company on Trustpilot.

Founded in 1990 and currently operating from a network of local offices throughout BC – Sands & Associates are multi-year Consumer Choice Award winners who provide individuals and small businesses with real solutions to debt.

As Licensed Insolvency Trustees, we are the people who can legally shield you from your creditors when you need a plan to deal with your debts.

MSI Spergel

TrustScore 4.9|1,476 reviews

I included the information below as provided by the company on Trustpilot.

For over 30 years, our debt help has empowered more than 100,000 Canadians to become debt free.

Whether you need debt help for yourself or your business, our dedicated and caring local teams will be by your side from the first time you call us until you have achieved your goal of debt freedom.

Here, you are not passed from one department to the next. You are guided by the same person throughout your debt relief journey, giving you the personalized attention that you deserve.

David Sklar & Associates Inc.

TrustScore 4.9|1,151 reviews

I included the information below as provided by the company on Trustpilot.

We have been helping people in the Greater Toronto area since 1997 to Get Out of Debt, and rebuild their financial future for a Fresh Start.

Our focus is in the Insolvency Industry which encompasses filing consumer proposals and bankruptcies.

\We take the time to explain all your options available including clearly defining the differences with Insolvency and consolidation.

We have offices in North York/Scarborough, Toronto, Pickering/Ajax, Mississauga/Etobicoke & Brampton. We are here to help you find the best solution to help you become debt free.

Jean Fortin & Associés

TrustScore 4.9|1,112 reviews

I included the information below as provided by the company on Trustpilot.

Jean Fortin est l’une des plus importantes firmes de syndics autorisés en insolvabilité au Québec. Nous analysons les solutions possibles à l’endettement tel que la faillite, la proposition de consommateur et la consolidation de dettes. Rencontrez dès maintenant l’un de nos conseillers en insolvabilité pour une consultation gratuite. 

Ginsberg Gingras

TrustScore 4.6|843 reviews

I included the information below as provided by the company on Trustpilot.

Ginsberg Gingras offre des solutions aux personnes vivant des difficultés financières et demeure à leur écoute tout au long du processus de redressement.

Fontaine & Associates

TrustScore 4.9|700 reviews

I included the information below as provided by the company on Trustpilot.

Fontaine & Associates are Licensed Insolvency Trustees, approved by the federal government to help people with their debt problems. \

We are a family-run business that’s been helping people for over 35 years. It all starts with a free consultation and ends with eliminating your stress and getting you back on track financially.

Can my company help you navigate debt?

I’ve written for a decade about how the debt sector is slanted in favour of the creditors and those who are in debt are often mistreated. 

You have more rights as a debtor than you realize. 

If you’re confused by all of the options out there, consider meeting with one of our Financial Wellness Advocates.

Any assistance we offer to select the best debt relief program is free of charge.

You can also read reviews of 4 Pillars on Trustpilot. We can not alter or edit the reviews in any way.

Book a call with a local office here. 

Take care,

Paul Murphy


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