Debt Consolidation in Action: Alberta
See how we’ve helped other Albertans overcome their issues with debt.
This page is designed to help you understand how debt impacts you and your fellow residents in Alberta. We also show you some real-life case studies of how we’ve helped others in Alberta debt overcome their challenges. If you need help, call us at 1-844-402-3073 or complete our easy debt analysis.
Debt statistics in Alberta
Alberta has gone through the ringer as of late. The once booming province with such great promise, is now struggling at great lengths. The oil industry in Alberta is trying to stay afloat and the wild-fire crisis in Fort McMurray just added fuel to the flames. As a consequence, many residents in Alberta are struggling to manage their mountain of debt. Here are some key statistics about the average Albertan:
- Average credit card debt: $4,568 per borrower
- Average student debt: $3,282
- Average mortgage debt: $146,988
- Average consumer debt (non-mortgage): $40,619
All of the above statistics are from Statistics Canada.
Brigitte from Calgary, ABHelped me when I needed it the most!! I was diagnosed with seizures and told I could no longer work!! I went from a very good income to $12,000/year in the blink of an eye. This was brutal and I had to turn to Consolidated to help me with my debt.
Where she started:
- Total unsecured debt: $16,853.00
- Estimated interest charges: $9,858.74
- Time to payoff: 13 years, 8 months
- Total monthly payments: $674.12
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 4 years, 0 months
- Total monthly payment: $355.00
Trina from Edmonton, ABI just wanted to say that I have had great customer service, they are very helpful :) I am looking forward to getting my loans paid down quicker and with a lot lower interest. Thank you Consolidated Credit Counseling Services of Canada :)
Where she started:
- Total unsecured debt: $25,009.00
- Estimated interest charges: $14,752.54
- Time to payoff: 14 years, 10 months
- Total monthly payments: $1000.36
After DMP enrollment:
- Average negotiated interest rate: 5.50%
- Total interest charges: $3,101.29
- Time to payoff: 4 years, 5 months
- Total monthly payment: $530.00
Gerald from Edmonton, ABConsolidated Credit took a lot of pressure off of my family and me. If not for Consolidated Credit, who knows what may have happened, I thank Consolidated Credit a lot.
Where he started:
- Total unsecured debt: $61,834.00
- Estimated interest charges: $36,215.08
- Time to payoff: 15 years, 9 months
- Total monthly payments: $2,473.36
After DMP enrollment:
- Average negotiated interest rate: 3.56%
- Total interest charges: $2,879.39
- Time to payoff: 3 years, 10 months
- Total monthly payment: $1,428.00
Rebekah from Calgary, ABI was in deep trouble with what was inevitably a small (but mounting!) debt and having seen my family go through a couple of bankruptcies, I had no desire to follow in their footsteps knowing how hard it was on them. Thank you SO much for helping me! I am now debt free!!!
Where she started:
- Total unsecured debt: $6,000.00
- Estimated interest charges: $3,347.02
- Time to payoff: 11 years, 2 months
- Total monthly payments: $240.00
After DMP enrollment:
- Average negotiated interest rate: 2.50%
- Total interest charges: $71.26
- Time to payoff: 3 years, 8 months
- Total monthly payment: $138
Kelly from Edmonton, ABConsolidated Credit has helped me and my family a lot. I thought I was always going to be in debt forever but then with Consolidated Credit I started to see the light again. It’s so simple and with just one condensed easy monthly payment my debt started to vanish. I am almost about to graduate from the program and it’s nice to know I have gained control again of my finances.
Where she started:
- Total unsecured debt: $73,714.00
- Estimated interest charges: $42,963.67
- Time to payoff: 15 years, 1 month
- Total monthly payments: $2,948.56
After DMP enrollment:
- Average negotiated interest rate: 5.00%
- Total interest charges: $5,426.50
- Time to payoff: 3 years, 10 months
- Total monthly payment: $1,750.00
Karen from Pincher, ABWhat a great feeling to be debt free! Consolidated Credit gave us hope to get out of debt, and helped us achieve our goals. All of our dealings were very positive in nature, and I would recommend them to family and friends.
Where she started:
- Total unsecured debt: $17,000.00
- Estimated interest charges: $9,947.07
- Time to payoff: 14 years, 10 months
- Total monthly payments: $680.00
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 3 years, 11 months
- Total monthly payment: $365.00
Dan from Calgary, ABI am so happy I picked up the phone and called Consolidated Credit. I had so much credit card debt that it would be impossible to pay off in my life time. Consolidated Credit worked with me and my creditors and got me a payment I could afford. I am now credit card debt free. Thank you Consolidated credit.
Where he started:
- Total unsecured debt: $75,857.81
- Estimated interest charges: $44,503.11
- Time to payoff: 15 years, 10 months
- Total monthly payments: $3,034.31
After DMP enrollment:
- Average negotiated interest rate: 2.63%
- Total interest charges: $2,225.69
- Time to payoff: 3 years, 9 months
- Total monthly payment: $1,754.00
Patricia from Red Deer, ABI appreciate that you have taken a great weight off my shoulders and that I will be debt free in 4 years.
Where she started:
- Total unsecured debt: $19,593.00
- Estimated interest charges: $10,996.86
- Time to payoff: 12 years, 6 months
- Total monthly payments: $783.72
After DMP enrollment:
- Average negotiated interest rate: 0.83%
- Total interest charges: $328.62
- Time to payoff: 3 years, 8 months
- Total monthly payment: $454.00
Brianna from Red Deer, ABYou guys have been one of the biggest helps in my life! I have had so many complications with credit, especially when my SIN number was stolen and everything seemed like it was falling apart. Your staff is friendly and informational. Always helping and making sure that things are good to go. I appreciate everything. You’ve done so much for me. As I continue with my payments, things seem to be getting better slowly but surely. Thank you! I'd refer you to anyone who required your services. Cheers.
Where she started:
- Total unsecured debt: $3,029.69
- Estimated interest charges: $1,185.51
- Time to payoff: 4 years, 8 months
- Total monthly payments: $121.19
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 2 years, 1 months
- Total monthly payment: $121.00
Brenda from Stony Plain, ABWe were lucky enough to be able to stick to this program to the T. We don't know what we would have done without you. We were heading into serious trouble when I contacted you and my health would not have handled the collection calls. I thank you so much for your large part in getting this paid off. Credit cards have their place but not when you owe $40,000+ on them. Thanks again.
Where she started:
- Total unsecured debt: $51,884.00
- Estimated interest charges: $30,401.21
- Time to payoff: 16 years, 2 months
- Total monthly payments: $2,082.16
After DMP enrollment:
- Average negotiated interest rate: 0.83%
- Total interest charges: $461.78
- Time to payoff: 3 years,9 months
- Total monthly payment: $1,183.00
