November 3, 2025
Toronto, ON, November 3, 2025 — Canadians are carrying more debt, missing payments at rising rates, and increasingly struggling to stay afloat as costs outpace paycheques. Recent studies* show growing financial strain nationwide.
Credit Canada, Canada’s longest-standing non-profit credit counselling agency has announced it has seen a 39.6% increase in credit counselling requests year-to-date since 2024. In some provinces, that increase is as high as 59.1%:
Increases were highest in the following provinces:
The agency also reported that September 2025 marked the highest monthly volume in its 60-year history.
To combat Canadians’ rising personal finance insecurities, Credit Canada is stepping in with a campaign to help Canadians move from financial awareness to action, to secure their financial futures.
The launch of “Flip the Switch on Your Money: Discover Your Lightbulb Moment” by Credit Canada coincides with Financial Literacy Month (November), as new national data shows a decade-high surge in delinquencies and rising consumer insolvencies. The findings underscore an urgent need for stronger financial guidance and mindset change.
Unlike traditional budgeting programs that focus only on numbers, “Flip the Switch on Your Money: Discover Your Lightbulb Moment” helps Canadians shift how they think about money. It’s based on neuroscience research showing that insights like “aha” moments activate the brain’s dopamine reward system, reinforcing learning and motivating follow-through. The program is designed to help Canadians find lightbulb moments that will spark action to improve their finances.
“Many Canadians know they’re in financial trouble, but don’t know how to start turning things around,” says Bruce Sellery, CEO of Credit Canada, host of the popular Moolala: Money Made Simple podcast and one of Canada’s foremost personal finance experts. “Flip the Switch on Your Money: Discover Your Lightbulb Moment” is about helping people connect the dots between understanding and action. When that light bulb goes on, it creates real motivation to take control, build confidence, and start improving their financial future.”
How Canadians Can “Flip the Switch”:
Canadians can start by visiting CreditCanada.com/lightbulb and taking a short quiz to identify their financial mindset. They will then be given personalized insights and practical steps to improve their finances.
Canadians can also discover their “aha” moments through videos and tools at CreditCanada.com/lightbulb.
For more information or for an interview with a representative from Credit Canada, please contact:
Andrea Chrysanthou
Amplify
andrea@amplifyonline.ca
416-797-8194
Additional press materials, photos, logos and bios are available here.
By the Numbers: The Financial Strain on Canadians
About Credit Canada
Credit Canada is Canada’s first and longest-standing non-profit credit counselling agency. For more than 50 years, Credit Canada has been helping Canadians get out of debt and back into life through financial education and debt resolution.
About Bruce Sellery
Bruce Sellery is the CEO of Credit Canada, the country’s first and longest-standing non-profit credit counselling agency. He comes to the role after two decades as a business journalist and financial literacy consultant. He was an anchor for BNN Bloomberg in Toronto and New York City, the host of Million Dollar Neighbourhood on the Oprah Winfrey Network, and the author of two Globe & Mail bestsellers, including “Moolala: Why smart people do dumb things with money (and what you can do about it)”. He is the Money Columnist for CBC Radio and hosts a weekly personal finance show on SiriusXM.
See some of Bruce’s media appearances here.
Topics: Debt Relief