Debt Consolidation in Action: Nunavut
See how we’ve helped other Nunavuters overcome their issues with debt.
This page will help you understand how debt impacts you and other residents in Nunavut. The case study below will demonstrate how Consolidated Credit has helped Nunavuters manage their challenges with debt. If you need help to stay on top of your debt, call us at 1-888-628-5933 or complete our easy debt analysis.
Nunavut at a glance
Nunavut has the highest unemployment rate in Canada at 13.5 per cent. The territory of Nunavut is sparsely populated and Nunavut is surrounded by numerous islands only accessible by boat or plane. According to the most recent data available from Statistics Canada (2011), 52 per cent of the population lives in a rural setting in comparison to 48 per cent of residents living in an urban area. Fifty-one per cent of Nunavuters live in single detached homes while 26 per cent occupy row houses with multiple units.
Given the geographic nature of Nunavut many residents find it hard to find work. As a result, many Nunavuters may be turning to debt to keep their finances above water.
Roxanne from Rankin Inlet, NU
I feel comfortable knowing that Consolidated Credit is taking care of me and I am on my way to debt relief. I feel that I no longer need to worry anymore and I can sleep well knowing I will be debt free and my credit will improve.
Where she started:
- Total unsecured debt: $6,721.36
- Estimated interest charges: $2,362.36
- Time to payoff: 10 years, 1 month
- Total monthly payments: $174.36
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 2 years 10 months
- Total monthly payment: $129.00