Debt Consolidation in Action: British Columbia

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

This page will help you understand how debt can affect your life when you have more than you can handle. We will also share with you some real-life case studies of some of our clients. These case studies will show how we’ve helped many British Columbians overcome their challenges with debt. If you are struggling with your debt load and you need help, call us at 1-888-628-5933 or complete our easy debt analysis.

Debt statistics in British Columbia

Although the unemployment rate in British Columbia is below the national average, some British Columbians are struggling to manage their debt because they purchased more home than they can afford. In a hot housing market where the average home is selling for $1.8 million coupled with low interest rates – it can be very easy to bite off more than you can chew. Here are the debt stats of the average British Columbian:

  • Average credit card debt: $5,650.00 per borrower
  • Average student debt: $5,204.00
  • Average mortgage debt: $193,315.00
  • Average consumer debt (non-mortgage): $30,654.00

All of the above statistics are from Statistics Canada.

Alexandra from Nanaimo, BC

The help and sound advice you gave me helped me make better decisions with my money and now I have hope for my financial future :)

Where she started:

  • Total unsecured debt: $9,729.41
  • Estimated interest charges: $3,490.41
  • Time to payoff: 10 years, 11 months
  • Total monthly payments: $249.56
  • After DMP enrollment:

  • Average negotiated interest rate: 2.50%
  • Total interest charges: $159.78
  • Time to payoff: 3 years 6 months
  • Total monthly payment: $155.00
  • Time Saved:
    7 years, 5 months
    Monthly Savings:
    $94.56
    Interest Saved:
    $3,330.63
    Adam from Ladysmith, BC

    Having one monthly payment helped me get out of the revolving door of debt and I actually got to see my debt going down. Sometimes it was hard but worth all the effort in the end and a very freeing feeling at the end.

    Where he started:

    • Total unsecured debt: $53,705.50
    • Estimated interest charges: $19,902.50
    • Time to payoff: 14 years, 8 months
    • Total monthly payments: $1,352.12

    After DMP enrollment:

    • Average negotiated interest rate: 2.50%
    • Total interest charges: $1,054.42
    • Time to payoff: 4 years, 0 months
    • Total monthly payment: $737.00
    Time Saved:
    10 years, 8 months
    Monthly Savings:
    $615.12
    Interest Saved:
    $18,848.08
    Kenneth from Victoria, BC

    Excellent company, excellent staff/people. Without these dedicated people taking care of me I would not be out of debt. Thank you for your hard and dedicated work.

    Where he started:

  • Total unsecured debt: $136,342.06
  • Estimated interest charges: $50,575.06
  • Time to payoff: 16 years, 0 months
  • Total monthly payments: $3,430.68
  • After DMP enrollment:

  • Average negotiated interest rate: 4.26%
  • Total interest charges: $14,392.47
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $1,805.00
  • Time Saved:
    11 years, 6 months
    Monthly Savings:
    $1,625.68
    Interest Saved:
    $36,182.59
    Dianna from Victoria, BC

    I am truly satisfied and grateful for this wonderful program. I'm so elated right now to be debt free. Thank you, thank you, thank you.

    Where she started:

  • Total unsecured debt: $25,455.81
  • Estimated interest charges: $9,229.73
  • Time to payoff: 13 years, 2 months
  • Total monthly payments: $649.04
  • After DMP enrollment:

  • Average negotiated interest rate: 1.25%
  • Total interest charges: $345.92
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $402.00
  • Time Saved:
    10 years, 4 months
    Monthly Savings:
    $278.04
    Interest Saved:
    $10,232.43
    Pamela from Vernon, BC

    Working with Consolidated Credit has been a very easy process. I am happy that I am able to at least pay back the principal amount borrowed from the companies, instead of nothing.

    Where she started:

  • Total unsecured debt: $101,865.53
  • Estimated interest charges: $37,487.89
  • Time to payoff: 15 years, 0 months
  • Total monthly payments: $2,575.11
  • After DMP enrollment:

  • Average negotiated interest rate: 1.11%
  • Total interest charges: $550.90
  • Time to payoff: 3 years, 7 months
  • Total monthly payment: $1,524.00
  • Time Saved:
    11 years, 3 months
    Monthly Savings:
    $1,051.11
    Interest Saved:
    $36,936.99
    Inge from West Vancouver, BC

    Thank you for all your help.

    Where she started:

  • Total unsecured debt: $4,773.99
  • Estimated interest charges: $1,473.99
  • Time to payoff: 6 years, 11 months
  • Total monthly payments: $132.00
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 2 years, 9 months
  • Total monthly payment: $101.00
  • Time Saved:
    4 years, 2 months
    Monthly Savings:
    $31.00
    Interest Saved:
    $1,473.99
    Hayley from Surrey, BC

    Very helpful and made me feel comfortable talking about my past bad credit history.

    Where she started:

  • Total unsecured debt: $15,214.11
  • Estimated interest charges: $5,393.31
  • Time to payoff: 12 years, 10 months
  • Total monthly payments: $396.06
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 2 years, 8 months
  • Total monthly payment: $307.00
  • Time Saved:
    10 years, 2 months
    Monthly Savings:
    $89.06
    Interest Saved:
    $5,393.51
    Sandeep from Surrey, BC

    Good service.

    Where he started:

  • Total unsecured debt: $62,721.30
  • Estimated interest charges: $23,125.30
  • Time to payoff: 15 years, 1 months
  • Total monthly payments: $1,583.84
  • After DMP enrollment:

  • Average negotiated interest rate: 1.00%
  • Total interest charges: $220.70
  • Time to payoff: 3 years, 5 months
  • Total monthly payment: $983.00
  • Time Saved:
    11 years, 8 months
    Monthly Savings:
    $600.84
    Interest Saved:
    $22,904.60
    Shaylee from Richmond, BC

    The consultants were so wonderfully kind, reassuring and non-judgmental, which provided so much relief and hope during a very stressful time!

    Where she started:

  • Total unsecured debt: $7,708.41
  • Estimated interest charges: $2,732.74
  • Time to payoff: 9 years, 6 months
  • Total monthly payments: $199.03
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 3 years, 11 months
  • Total monthly payment: $106.00
  • Time Saved:
    5 years, 7 months
    Monthly Savings:
    $93.03
    Interest Saved:
    $2,732.74
    Ken from Penticton, BC

    Working with Consolidated Credit has been so easy and so helpful. I was going through a very bad time and I thought my only option was to declare bankruptcy. But I got involved with your firm and now my account is all but paid up and it is such a nice feeling. No more phone calls or nasty letters. It will be a day to celebrate when it is all completed. My thanks to Consolidated Credit, easy peasy, you have been very helpful in my life. It has been great.

    Where he started:

  • Total unsecured debt: $70,025.38
  • Estimated interest charges: $25,943.38
  • Time to payoff: 16 years, 7 months
  • Total monthly payments: $1,763.28
  • After DMP enrollment:

  • Average negotiated interest rate: 6.20%
  • Total interest charges: $8,373.66
  • Time to payoff: 4 years, 8 months
  • Total monthly payment: $943.00
  • Time Saved:
    11 years, 11 months
    Monthly Savings:
    $820.28
    Interest Saved:
    $17,569.72
    Nancy from Penticton, BC

    Very professional. They have saved me thousands of dollars. Will recommend them to anyone.

    Where she started:

  • Total unsecured debt: $11,716.94
  • Estimated interest charges: $3,919.32
  • Time to payoff: 8 years, 11 months
  • Total monthly payments: $311.90
  • After DMP enrollment:

  • Average negotiated interest rate: 2.48%
  • Total interest charges: $717.76
  • Time to payoff: 3 years, 3 months
  • Total monthly payment: $216.00
  • Time Saved:
    5 years, 8 months
    Monthly Savings:
    $95.90
    Interest Saved:
    $3,201.56
    Carole from Port Moody, BC

    This has been a good experience, easy access tools, and good instructions.

    Where she started:

  • Total unsecured debt: $81,727.61
  • Estimated interest charges: $30,173.61
  • Time to payoff: 15 years, 10 months
  • Total monthly payments: $2,062.16
  • After DMP enrollment:

  • Average negotiated interest rate: 2.71%
  • Total interest charges: $1,541.42
  • Time to payoff: 4 years, 0 months
  • Total monthly payment: $1,124.00
  • Time Saved:
    11 years, 10 months
    Monthly Savings:
    $938.16
    Interest Saved:
    $28,632.19
    Laura from Lone Butte, BC

    Wonderful help in this process. Feel some hope again. Thank you so much.

    Where she started:

  • Total unsecured debt: $134,066.75
  • Estimated interest charges: $49,800.75
  • Time to payoff: 15 years, 11 months
  • Total monthly payments: $3,370.64
  • After DMP enrollment:

  • Average negotiated interest rate: 1.67%
  • Total interest charges: $2,075.78
  • Time to payoff: 4 years, 3 months
  • Total monthly payment: $1,723.00
  • Time Saved:
    11 years, 8 months
    Monthly Savings:
    $1,647.64
    Interest Saved:
    $47,724.97
    Wilfred from Keremeos, BC

    Consolidated Credit assisted me from declaring bankruptcy when I lost my job a few years ago. Very good service!

    Where he started:

  • Total unsecured debt: $36,547.06
  • Estimated interest charges: $13,547.06
  • Time to payoff: 14 years, 4 months
  • Total monthly payments: $920.00
  • After DMP enrollment:

  • Average negotiated interest rate: 2.48%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $463.00
  • Time Saved:
    10 years, 2 months
    Monthly Savings:
    $457.00
    Interest Saved:
    $13,547.06
    Payman from Langley, BC

    Very helpful and understanding and knowledgeable agents...very grateful for all their help.

    Where he started:

  • Total unsecured debt: $37,269.95
  • Estimated interest charges: $13,659.95
  • Time to payoff: 14 years, 4 months
  • Total monthly payments: $944.40
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $474.00
  • Time Saved:
    10 years, 2 months
    Monthly Savings:
    $470.40
    Interest Saved:
    $13,659.95
    Josephine from Burnaby, BC

    Since I signed the documents for the program I felt like I’m in a safe and helpful family. Whenever I am in a very tight situation for my next payment they always help me to make things work out. The Staffs are very nice and polite. I recommended 3 of my friends already to join the program and they thanked me too for introducing Consolidated Credit to them because they also wanted to be out of debt as soon as possible. Thank you all very much for helping us in times of difficulty. More power and God bless you all!

    Where she started:

  • Total unsecured debt: $34,461.89
  • Estimated interest charges: $12,528.21
  • Time to payoff: 13 years, 2 months
  • Total monthly payments: $877.35
  • After DMP enrollment:

  • Average negotiated interest rate: 1.00%
  • Total interest charges: $184.98
  • Time to payoff: 4 years, 1 month
  • Total monthly payment: $460.00
  • Time Saved:
    9 years, 1 month
    Monthly Savings:
    $417.35
    Interest Saved:
    $12,343.23
    Lynne from Burnaby, BC

    I am 67 years old and had a debt load of over 22,000 dollars. I wanted to pay off my debts as fast as I could. I was going in circles and realized I could not do it on my own. I decided to try Consolidated Credit and I feel great about paying my debt before I die.

    Where she started:

  • Total unsecured debt: $50,593.20
  • Estimated interest charges: $18,656.20
  • Time to payoff: 14 years, 0 months
  • Total monthly payments: $1,277.48
  • After DMP enrollment:

  • Average negotiated interest rate: 2.50%
  • Total interest charges: $1,711.88
  • Time to payoff: 3 years, 10 months
  • Total monthly payment: $734.00
  • Time Saved:
    10 years, 2 months
    Monthly Savings:
    $543.48
    Interest Saved:
    $16,944.32
    Derek from Brentwood Bay, BC

    I absolutely love Consolidated Credit! I heard about them on the radio so I decided to pick up the phone and call and I have to say these guys have been amazing since day 1. Keep it up guys!

    Where he started:

  • Total unsecured debt: $16,321.50
  • Estimated interest charges: $5,883.50
  • Time to payoff: 11 years, 3 months
  • Total monthly payments: $417.52
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $248.00
  • Time Saved:
    7 years, 9 months
    Monthly Savings:
    $169.52
    Interest Saved:
    $5,883.50