Debt Consolidation in Action: New Brunswick

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

This page will help you understand how debt impacts you and residents in New Brunswick. We also show you some real-life case studies of how we’ve helped other New Brunswickers overcome their challenges with debt. If you need help, call us at 1-888-628-5933 or complete our easy debt analysis.

Debt statistics in New Brunswick

The economy in New Brunswick is facing some challenges as of late. The unemployment rate in New Brunswick has jumped to 9.9 per cent. The national unemployment rate in Canada is 6.8 per cent. Given the unemployment rate is higher than the national average, many New Brunswickers are struggling to make ends meet with the lack of employment opportunities available. As a consequence, many are turning to debt to manage their household. The debt level for the average New Brunswicker is as follows:

  • Average credit card debt: $754.00 per borrower
  • Average student debt: $1,038.00
  • Average mortgage debt: $10,875.00
  • Average consumer debt (non-mortgage): $5,415

All of the above statistics are from Statistics Canada.

Stephanie from Moncton, NB

Best experience I've ever had when dealing with overdue debt! Thanks so much!!

Where she started:

  • Total unsecured debt: $13,672.86
  • Estimated interest charges: $4,500.20
  • Time to payoff: 8 years, 3 months
  • Total monthly payments: $370.43
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 3 years, 2 months
  • Total monthly payment: $242.00
  • Time Saved:
    5 years, 1 month
    Monthly Savings:
    $128.43
    Interest Saved:
    $4,500.20
    Christopher from Oromocto, NB

    Like that my info is confidential.

    Where he started:

  • Total unsecured debt: $13,252.75
  • Estimated interest charges: $4,732.75
  • Time to payoff: 10 years, 11 months
  • Total monthly payments: $340.80
  • After DMP enrollment:

  • Average negotiated interest rate: 3.30%
  • Total interest charges: $898.65
  • Time to payoff: 3 years, 6 months
  • Total monthly payment: $226.00
  • Time Saved:
    7 years, 5 months
    Monthly Savings:
    $114.80
    Interest Saved:
    $3,834.10
    Claudette from Rothesay, NB

    I have had no problem with consolidated credit. I would probably be in worse debt if not for the help I received. Thank you very much!!

    Where she started:

  • Total unsecured debt: $16,730.89
  • Estimated interest charges: $6,036.89
  • Time to payoff: 10 years, 10 months
  • Total monthly payments: $427.76
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 1 month
  • Total monthly payment: $222.00
  • Time Saved:
    6 years, 9 months
    Monthly Savings:
    $205.76
    Interest Saved:
    $6,036.89
    Rezwanur from Saint John, NB

    Good.

    Where he started:

  • Total unsecured debt: $4,322.70
  • Estimated interest charges: $1,399.70
  • Time to payoff: 8 years, 6 months
  • Total monthly payments: $123.20
  • After DMP enrollment:

  • Average negotiated interest rate: 3.33%
  • Total interest charges: $489.56
  • Time to payoff: 2 years, 11 months
  • Total monthly payment: $96.00
  • Time Saved:
    5 years, 7 months
    Monthly Savings:
    $27.20
    Interest Saved:
    $910.14
    Brenden from Fredericton, NB

    Thank you so much it feels great to be debt free!

    Where he started:

  • Total unsecured debt: $28,238.16
  • Estimated interest charges: $10,194.16
  • Time to payoff: 12 years, 8 months
  • Total monthly payments: $721.76
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 1 month
  • Total monthly payment: $369.00
  • Time Saved:
    8 years, 7 months
    Monthly Savings:
    $352.76
    Interest Saved:
    $10,194.16
    Feleena from Penniac, NB

    I love you guys, especially Onicka!! Thanks so much for everything!!!! :)

    Where she started:

  • Total unsecured debt: $63,823.77
  • Estimated interest charges: $23,617.77
  • Time to payoff: 16 years, 7 months
  • Total monthly payments: $1,608.24
  • After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $747.00
  • Time Saved:
    12 years, 1 months
    Monthly Savings:
    $861.24
    Interest Saved:
    $23,617.77