Creditaid

What Creditaid does

Creditaid is a privately held Canadian credit counselling firm headquartered in Winnipeg, Manitoba, founded in 1992. The company serves over-indebted individuals, budget-challenged households, credit-challenged consumers, and people facing creditor legal action across four western Canadian provinces: Manitoba, Saskatchewan, Alberta, and British Columbia. Service delivery is conducted through in-person consultations at its Winnipeg office, virtual consultations, and phone consultations (including a toll-free line), with a stated emphasis on personalized, file-aware staff interactions rather than anonymous call-centre handling.

The company's core product suite comprises Credit Counselling, Debt Consolidation, and Debt Management Programs (DMPs)—the latter typically running 4-5 years (approximately 60 months), during which Creditaid negotiates interest rate concessions with creditors and consolidates payments into a single monthly amount. Supplementary offerings include one-on-one Budget Coaching, the 18-month Build Learn Save credit rebuilding program (delivered in partnership with Home Trust via a secured Visa card), and a Credit Card Interest Calculator web tool. The company is licensed and bonded, registered with provincial regulatory bodies, and undergoes annual trust account audits. It holds a BBB A+ rating and "Best in Winnipeg Debt Consolidation" recognition.

Creditaid's revenue model is professional-services-based: initial consultations are free, and the company charges fees for credit counselling consultations and Debt Management Programs once a solution is accepted. DMP fees are partially offset by the interest concessions Creditaid negotiates on the client's behalf. Go-to-market is consultative and direct-to-consumer, relying on content marketing (a long-running blog with financial literacy content), online reviews on Google and Facebook, radio and earned-media appearances (CJOB, CBC Radio One), community engagement (Winnipeg Chamber of Commerce, Habitat for Humanity Manitoba), and organic SEO for debt-related searches. The firm is led by Brian Denysuik (President) and James (Managing Director), with no disclosed external funding or institutional ownership.

Name

Creditaid

Legal name

Creditaid

Website

https://creditaid.ca

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Creditaid is a Winnipeg-based, privately held Canadian credit counselling firm founded in 1992 that serves over-indebted individuals across Manitoba, Saskatchewan, Alberta, and British Columbia with debt management programs, credit counselling, debt consolidation, budget coaching, and credit rebuilding services.

Ownership category

akta.pro rank

Product category

Credit Counselling

NAICS

Activities Related to Credit Intermediation (5223)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Consumer Credit Counseling & Budgeting (FSAEAFAA)

akta.pro secondary industries

Credit Card Debt Consolidation Loans (FSAKAIAC), Multi-Loan / Multi-Creditor Consolidation Loans (FSAKAIAD), Debt Consolidation & Credit Card Balance Transfer Intermediation (FSAEAEAN), Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD)

Keywords

• Credit counselling services
• Debt consolidation
• Debt management programs
• Credit rebuilding
• Financial counselling

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Debt Management Program Fees: Fees for debt management programs that vary based on the proposed solution. These fees are offset by interest rate concessions negotiated with creditors on behalf of clients.
2. Credit Counselling Services: Fees charged for credit counselling consultations and ongoing program management. Initial evaluation is free, with fees applying once a solution is recommended and accepted.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Creditaid provides credit counselling, debt consolidation, and debt management programs to help individual Canadians become debt-free. The firm negotiates with creditors to reduce interest rates, consolidates multiple debts into a single monthly payment, and offers structured repayment programs typically running 4-5 years. Additional services include budget coaching and an 18-month credit rebuilding program (Build Learn Save) delivered through in-person, virtual, and phone consultations.

Product overview

Creditaid is a credit counselling firm offering a suite of debt management and financial wellness services. The core offering consists of Credit Counselling, Debt Consolidation, and Debt Management Programs (DMPs), supplemented by Budget Coaching sessions and the 18-month Build Learn Save Program for credit rebuilding. A proprietary Credit Card Interest Calculator helps illustrate the cost of minimum payments. The company has partnered with Home Trust to offer a Secured Visa Card for credit building. Services are delivered through in-person, virtual, and phone consultations, with an initial free evaluation followed by fee-based solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Counselling Professional credit counselling to help clients understand their financial situation, evaluate debt, and develop personalized plans to become debt-free, including confidential meetings and comprehensive financial evaluations.
• Debt Consolidation Service that combines multiple debts into a single, manageable monthly payment with potentially lower interest rates, simplifying finances and accelerating the journey to debt freedom.
• Debt Management Program (DMP) A structured debt repayment program where Creditaid negotiates with creditors on the client's behalf to reduce interest rates and consolidate payments into one monthly amount, typically running 4-5 years (approximately 60 months).
• Budget Coaching One-on-one coaching sessions (virtual or in-person) that provide personalized guidance on tracking expenses, creating customized budgets, and developing responsible spending habits, including follow-up reviews after one month.
• Build Learn Save Program An 18-month credit rebuilding program designed to help clients build or improve their credit score through a structured plan while learning budgeting skills, helping them qualify for better financial products.
• Home Trust Secured Visa Card A secured credit card offered in partnership with Home Trust, one of Canada's leading trust companies, designed to help clients establish or re-establish their credit score.

Quantifiable outcome

• Debt-free in approximately 60 months (4-5 years)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Home TrustcoreStrategic or Co-development PartnerCreditaid has partnered with Home Trust, one of Canada's leading trust companies, to provide clients with a secured Visa card solution for establishing or re-establishing credit scores. This partnership supports the Build Learn Save program for credit rebuilding.
• Habitat for Humanity ManitobaminorOthersCreditaid is a proud supporter of Habitat for Humanity Manitoba as part of their community engagement and corporate social responsibility initiatives.
• Winnipeg Chamber of CommerceminorOthersCreditaid is a member of the Winnipeg Chamber of Commerce, participating in the financial services sector and local business community.
• Bankruptcy TrusteesminorStrategic or Co-development PartnerEstablished relationships with trustees for cases where bankruptcy may be the best solution for clients. Creditaid refers clients to trustees when their debt management program is not the optimal solution.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Credit Canada: Canada's largest non-profit credit counselling agency offering credit counselling, debt consolidation, and budget coaching across Canada. Directly comparable to Creditaid in service offering and target customer (over-indebted Canadian consumers), though operates as a non-profit nationally rather than regionally for-profit.
• Consolidated Credit Counseling Services of Canada: Canadian credit counselling firm offering debt consolidation, credit counselling, and financial education services. Closely comparable to Creditaid's DMP and credit counselling offerings, with a similar professional services revenue model.
• Money Mentors: Alberta-based non-profit credit counselling and money management organization serving western Canada. Geographic overlap with Creditaid's western Canada footprint and directly comparable service offerings in credit counselling and debt management.
• Hoyes Michalos & Associates: Canadian Licensed Insolvency Trustee firm specializing in consumer debt solutions including debt consolidation, credit counselling, and bankruptcy alternatives. Directly comparable in service offering and target market, with broader national coverage.
• Springboard (non-profit credit counselling): Canadian non-profit organization providing credit counselling, debt management, and financial education services. Comparable in service portfolio to Creditaid but operates as a charitable organization offering services across multiple Canadian provinces.

Broad incumbents

• Equifax Canada: Major Canadian credit bureau providing credit reporting, monitoring, and credit score services. Comparable to the credit-building component of Creditaid's Build Learn Save program, though operates at scale as an infrastructure/data provider rather than a counselling service.
• BDO Canada Limited (Debt Solutions): Major Canadian professional services firm providing consumer debt solutions, including debt consolidation and trustee services. Comparable to Creditaid in addressing consumer insolvency and debt management, but operates as a broader accounting/professional services firm.
• MNP LLP (Debt Solutions): Large Canadian accounting and business advisory firm with a dedicated Consumer Insolvency practice offering debt consolidation, bankruptcy alternatives, and credit counselling. Comparable to Creditaid's debt relief services but as part of a much larger national professional services platform.
• TransUnion Canada: Major Canadian credit bureau offering consumer credit reports, scores, and monitoring services. Comparable to the data/credit-reporting dimension of Creditaid's Build Learn Save program and credit counselling process, though at much greater scale and as a credit data infrastructure provider.

Emerging players

• Borrowell: Canadian fintech offering free credit scores, credit monitoring, and personal loan products. Adjacent competitor to Creditaid in addressing consumer financial wellness and credit-building, but with a digital-first, technology-led model that contrasts with Creditaid's traditional counselling approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pg/Creditaid/reviews
• Xx.com/ceo_creditaid

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Creditaid