Debt Consolidation in Action: Manitoba
See how we’ve helped other Manitobans overcome their issues with debt.
This page will help you understand how debt impacts you and many fellow residents in Manitoba. We also will show you how many clients have overcome their challenges with debt with the help of Consolidated Credit. If you are having a difficult time staying on top of your debt, call us now at (844)-402-3073 or complete our easy debt analysis.
Debt statistics in Manitoba
While the economy and employment rate is relatively stable in Winnipeg and throughout the province, Manitobans are not immune to debt. The simple matter of fact is many Canadians are stretched thin and they are living paycheque to paycheque. The average debt levels of Manitobans are the following:
- Average credit card debt: $1,005.00 per borrower
- Average student debt: $610.00
- Average mortgage debt: $24,978.00
- Average consumer debt (non-mortgage): $ 6,572
All of the above statistics are from Statistics Canada.
Insolvency Statistics
| Canada | 2021 | 2020 | % Change |
| Total Insolvencies | 90,092 | 96,458 | -6.6% |
| Consumer Proposal | 62,631 | 63,578 | -1.5% |
| Bankruptcy | 27,461 | 32,880 | -16.5% |
| Manitoba | 2021 | 2020 | % Change |
| Total Insolvencies | 2,507 | 2,527 | -0.8% |
| Consumer Proposal | 1,725 | 1,740 | -0.9% |
| Bankruptcy | 782 | 787 | -0.6% |
Real Case Studies
Kristen is thankful she called
Great service and up to date info.
Kristen from Brandon, MB
Where she started:
- Total unsecured debt: $11,260.00
- Estimated interest charges: $6,376.63
- Time to payoff: 11 years, 6 months
- Total monthly payments: $450.40
After DMP enrollment:
- Average negotiated interest rate: 1.67%
- Total interest charges: $838.00
- Time to payoff: 4 years, 5 months
- Total monthly payment: $533.00
Time Saved: 7 years, 2 months
Monthly Savings: $218.40
Interest Saved: $5,709.94
Jake is finally getting his credit card under control
I contacted consolidated credit to help me pay off my master card, through them I am able to pay everything towards the principal instead of paying so much interest.
Jake from Steinbach, MB
Where he started:
- Total unsecured debt: $4,029.00
- Estimated interest charges: $2,290.90
- Time to payoff: 10 years, 6 months
- Total monthly payments: $161.16
After DMP enrollment:
- Average negotiated interest rate: 0.00%
- Total interest charges: $0.00
- Time to payoff: 3 years, 4 months
- Total monthly payment: $101.00
Time Saved: 7 years, 2 months
Monthly Savings: $60.16
Interest Saved: $2,290.90
Manitoba Cities
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