Debt Consolidation in Action: Newfoundland

See how we’ve helped other Newfoundlanders overcome their issues with debt.

This page is designed to help you understand how debt impacts you and others in Newfoundland. We also show you some real-life case studies of how we’ve helped many Newfoundlanders overcome their challenges. If you need help, call us at 1-888-628-5933 or complete our easy debt analysis online.

Debt statistics in Newfoundland

Newfoundland’s unemployment rate is almost twice the national average in Canada. The unemployment rate in Newfoundland stands at 12.0 per cent. As a result, residents in Newfoundland are experiencing several challenges to manage their finances. To stay above water, many Newfoundlanders are using debt to manage their household income. The average debt load of Newfoundlanders is as follows:

All of the above statistics are from Statistics Canada.

Credit Counselling in Action for Newfoundland residents

The following case studies are from real Consolidated Credit clients who live in Newfoundland. This can help grasp what you can expect if you are eligible for a debt management program at Consolidated Credit.

I thought it was awesome program.

Where she started:

  • Total unsecured debt: $41,084.60
  • Estimated interest charges: $15,169.60
  • Time to payoff: 14 years, 11 months
  • Total monthly payments: $1,036.60

After DMP enrollment:

  • Average negotiated interest rate: 10.63%
  • Total interest charges: $6,600.48
  • Time to payoff: 4 years, 4 months
  • Total monthly payment: $634.00
Time Saved:
10 years,7 months
Monthly Savings:
$402.60
Interest Saved:
$8,569.12
I have been looking for ways to get out of debt so that I can start really enjoying my life instead of worrying over my bills that I owe. This is the most affordable option I have ever come across. I never thought I would get out of debt then I saw an ad for CCCS and found out just how easy it could be to reach a seemingly impossible goal of being debt free.

Where she started:

  • Total unsecured debt: $8,799.24
  • Estimated interest charges: $3,011.24
  • Time to payoff: 9 years, 7 months
  • Total monthly payments: $242.32

After DMP enrollment:

  • Average negotiated interest rate: 3.67%
  • Total interest charges: $1,100.54
  • Time to payoff: 3 years, 0 months
  • Total monthly payment: $187.00
Time Saved:
6 years, 7 months
Monthly Savings:
$55.32
Interest Saved:
$1,910.70
Good.

Where he started:

  • Total unsecured debt: $16,812.69
  • Estimated interest charges: $6,225.69
  • Time to payoff: 13 years, 8 months
  • Total monthly payments: $423.48

After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 9 months
  • Total monthly payment: $186.00
Time Saved:
8 years, 11 months
Monthly Savings:
$237.48
Interest Saved:
$6,225.69
No problem so far.

Where she started:

  • Total unsecured debt: $11,090.92
  • Estimated interest charges: $3,842.92
  • Time to payoff: 9 years, 10 months
  • Total monthly payments: $289.92

After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 3 years, 8 months
  • Total monthly payment: $165.00
Time Saved:
6 years, 2 months
Monthly Savings:
$124.92
Interest Saved:
$3,842.92

Consolidated Credit Counseling Services of Canada, Inc has been verified as the owner or operator of the Web site located at www.consolidatedcredit.ca. Official records confirm Consolidated Credit Counseling Services of Canada, Inc as a valid business. Call us today and see what we can do for you.

We are a proud member of the Canadian Association of Credit Counselling Services (CACCS), the national voice for not-for-profit credit counselling services. As a CACCS member, you can trust that our trained credit counsellors strive to provide the best in professional, independent and unbiased personal finance services. We’ve helped hundreds of thousands of Canadians find relief from debt. Call us today to find out if we can help you.

Consolidated Credit Counseling of Canada is proud to be a member and support the Toronto Board of Trade. Founded in 1845, the Toronto Board of Trade is Canada’s largest local chamber of commerce. We share their vision, passion and commitment to serving the community and to foster economic and social welfare of the City of Toronto. Call us today and see what we can do for you.

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Consolidated Credit Counseling Services of Canada is accredited by the Canadian Centre for Accreditation – a national organization responsible for ensuring excellence in community service. We meet CCA’s high standards of service and accountability. Give us a call today and find out what we can do for you.

We are proud members of the Ontario Association of Credit Counseling Services (OACCS). OACCS sets the standard of required expertise for the financial counseling industry and the only organization to offer the exclusive professional designation of Accredited Financial Counsellor Canada (AFCC). With over 500,000 people helped, you can be assured that we can find the right solution for you. Call us today.

Time tested and customer trusted. Consolidated Credit Counseling Services of Canada, Inc has been a BBB Accredited Business since 2008 and has a current A+ rating. Call us today and see what we can do for you.

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AFCC (Accredited Financial Counsellor Canada)

AFCC (Accredited Financial Counsellor Canada) is a distinguished professional designation, indicating that a counsellor has successfully completed the program and has specialized knowledge, unique skills and expertise as a qualified Credit Counsellor.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

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