Debt Consolidation in Action: Nova Scotia
See how we’ve helped other Nova Scotians overcome their issues with debt.
This page is designed to help you understand how debt impacts you and your fellow residents in Nova Scotia. We also show you some real-life case studies of how we’ve helped other Nova Scotians overcome their challenges. If you need help to get your debt under control, call us now at 1-888-294-3130 or complete our easy debt analysis.
Debt statistics in Nova Scotia
Like many provinces in the Maritimes, Nova Scotians are faced with a high unemployment rate in comparison to the rest of Canada. The unemployment rate stands at 8.2 per cent, higher than the national average of 6.8 per cent. Many jobs in Nova Scotia are seasonal in nature and the unemployment rate reflects this. The average debt load of Nova Scotians is as follows:
- Average credit card debt: $878.00 per borrower
- Average student debt: $820.00
- Average mortgage debt: $21,242.00
- Average consumer debt (non-mortgage): $5,086
All of the above statistics are from Statistics Canada.
Jody from Bridgewater, NSThey go to bat for you and are very understanding.
Where she started:
- Total unsecured debt: $39,075.14
- Estimated interest charges: $22,812.69
- Time to payoff: 14 years, 9 months
- Total monthly payments: $1,563.01
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 4 years 2 months
- Total monthly payment: $787.00
Don from Greenwood, NSThey have been excellent to deal with.
Where he started:
- Total unsecured debt: $18,898.00
- Estimated interest charges: $10,832.95
- Time to payoff: 12 years, 8 months
- Total monthly payments: $755.92
After DMP enrollment:
- Average negotiated interest rate: 5.33%
- Total interest charges: $1,851.73
- Time to payoff: 3 years, 10 months
- Total monthly payment: $455.00
Robert from Halifax, NSVery friendly, respectful and helpful. Thanks.
Where he started:
- Total unsecured debt: $5,039.47
- Estimated interest charges: $2,536.63
- Time to payoff: 10 years, 0 months
- Total monthly payments: $207.00
After DMP enrollment:
- Average negotiated interest rate: 2.48%
- Total interest charges: $759.56
- Time to payoff: 2 years, 8 months
- Total monthly payment: $178.00
Oliad from Halifax, NSI am very delighted by your professional service!!
Where she started:
- Total unsecured debt: $5,382.00
- Estimated interest charges: $2,849.85
- Time to payoff: 8 years, 11 months
- Total monthly payments: $215.28
After DMP enrollment:
- Average negotiated interest rate: 3.33%
- Total interest charges: $416.66
- Time to payoff: 4 years, 0 month
- Total monthly payment: $121.00
Darcie from Ingramport, NSI got into a bit of trouble with extra expenses in building my new home and tried to hang on paying the minimum payments but I wasn't getting anywhere with getting rid of my debt. I had lots of sleepless nights trying to figure out where to turn and finally decided to call Consolidated Credit. I was sleeping normally again in no time and better yet: I'll be debt free in 4 years!
Where she started:
- Total unsecured debt: $25,873.00
- Estimated interest charges: $15,270.78
- Time to payoff: 16 years, 3 months
- Total monthly payments: $1034.92
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 3 years, 4 months
- Total monthly payment: $648.00
Julie from Sydney, NSSince being enrolled in CCC, I have financial freedom as I now can manage my monthly income and debt and will have them behind me within the upcoming year. I have learned to live much more easily without credit cards and find that making a biweekly budget is the best way to make your money last and am able to set some aside for emergencies.
Where she started:
- Total unsecured debt: $9,862.98
- Estimated interest charges: $5,285.36
- Time to payoff: 9 years, 8 months
- Total monthly payments: $394.52
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $34.68
- Time to payoff: 2 years, 9 months
- Total monthly payment: $306.00
Henry from Truro, NSDealing with Consolidated Credit has been way better than I could have imagined. The client service is top notch and it genuinely feels like they want you to succeed.
Where he started:
- Total unsecured debt: $42,929.00
- Estimated interest charges: $24,998.27
- Time to payoff: 13 years, 9 months
- Total monthly payments: $1,717.16
After DMP enrollment:
- Average negotiated interest rate: 2.50%
- Total interest charges: $2,373.11
- Time to payoff: 4 years, 6 months
- Total monthly payment: $841.00
Carrie from Truro, NSI have had a really good experience using Consolidated Credit. The staff was always helpful and understanding with any questions or issues I had.
Where she started:
- Total unsecured debt: $15,037.00
- Estimated interest charges: $8,642.76
- Time to payoff: 12 years, 7 months
- Total monthly payments: $601.48
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 5 years, 4 months
- Total monthly payment: $236.00
Lori from West Northfield, NSI never thought that I was going to be able to get help with my debt. The banks wouldn't look at me because I didn't make enough money, but these guys looked past that and gave me hope. It feels awesome!
Where she started:
- Total unsecured debt: $18,776.00
- Estimated interest charges: $11,012.70
- Time to payoff: 14 years, 4 months
- Total monthly payments: $751.04
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 4 years, 11 months
- Total monthly payment: $320.00
Margaret from Dartmouth, NSSimply THANK YOU FOR UNDERSTANDING! AND FOR BEING NON-JUDGEMENTAL!
Where she started:
- Total unsecured debt: $38,740.00
- Estimated interest charges: $22,611.53
- Time to payoff: 15 years, 1 month
- Total monthly payments: $1,549.60
After DMP enrollment:
- Average negotiated interest rate: 2.00%
- Total interest charges: $1,931.41
- Time to payoff: 3 years, 9 months
- Total monthly payment: $913.00