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 1-888-628-5933 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, NS

They go to bat for you and are very understanding.

Where she started:

  • Total unsecured debt: $61,887.83
  • 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
  • Time Saved:
    10 years, 7 months
    Monthly Savings:
    $776.01
    Interest Saved:
    $22,812.69
    Don from Greenwood, NS

    They have been excellent to deal with.

    Where he started:

  • Total unsecured debt: $29,730.95
  • 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
  • Time Saved:
    8 years, 10 months
    Monthly Savings:
    $300.92
    Interest Saved:
    $8,981.22
    Robert from Halifax, NS

    Very friendly, respectful and helpful. Thanks.

    Where he started:

  • Total unsecured debt: $7,576.10
  • 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
  • Time Saved:
    7 years, 4 months
    Monthly Savings:
    $29.00
    Interest Saved:
    $1,777.07
    Oliad from Halifax, NS

    I am very delighted by your professional service!!

    Where she started:

  • Total unsecured debt: $8,231.85
  • 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
  • Time Saved:
    4 years, 11 months
    Monthly Savings:
    $94.28
    Interest Saved:
    $2,433.19
    Darcie from Ingramport, NS

    I 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: $41,143.78
  • 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
  • Time Saved:
    12 years, 11 months
    Monthly Savings:
    $386.92
    Interest Saved:
    $15,270.78
    Julie from Sydney, NS

    Since 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: $15,148.34
  • 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
  • Time Saved:
    6 years, 11 months
    Monthly Savings:
    $88.52
    Interest Saved:
    $5,250.68
    Henry from Truro, NS

    Dealing 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: $67,927.27
  • 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
  • Time Saved:
    9 years, 3 months
    Monthly Savings:
    $876.16
    Interest Saved:
    $22,625.16
    Carrie from Truro, NS

    I 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: $23,679.76
  • 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
  • Time Saved:
    7 years, 3 months
    Monthly Savings:
    $365.48
    Interest Saved:
    $8,642.76
    Lori from West Northfield, NS

    I 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: $29,788.70
  • 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
  • Time Saved:
    9 years, 5 months
    Monthly Savings:
    $431.04
    Interest Saved:
    $11,012.70
    Margaret from Dartmouth, NS

    Simply THANK YOU FOR UNDERSTANDING! AND FOR BEING NON-JUDGEMENTAL!

    Where she started:

  • Total unsecured debt: $61,351.53
  • 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
  • Time Saved:
    11 years, 4 months
    Monthly Savings:
    $636.60
    Interest Saved:
    $20,680.12