Credit Counselling in 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 (844)-402-3073.
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, especially in Vancouver, 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.
Insolvency Statistics
Canada | 2023 | 2022 | % Change |
Total Insolvencies | 123,233 | 100,184 | 23.0% |
Consumer Proposal | 97,017 | 75,598 | 28.3% |
Bankruptcy | 26,216 | 24,586 | 6.6% |
British Columbia | 2023 | 2022 | % Change |
Total Insolvencies | 12,896 | 10,167 | 26.8% |
Consumer Proposal | 10,874 | 8,346 | 30.3% |
Bankruptcy | 2,022 | 1,821 | 11.0% |
British Columbia Cities
Speak to a trained counsellor today to determine your best choice.