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 (844)-402-3073 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.
Insolvency Statistics
Canada | 2023 | 2022 | % Change |
Total Insolvencies | 123,233 | 100,184 | 23.0% |
Consumer Proposal | 97,017 | 75,598 | 28.3% |
Bankruptcy | 26,126 | 24,586 | 6.6% |
New Brunswick | 2023 | 2022 | % Change |
Total Insolvencies | 3,521 | 3,128 | 12.6% |
Consumer Proposal | 2,646 | 2,101 | 25.9% |
Bankruptcy | 875 | 1,027 | -14.8% |
Speak to a trained counsellor today to determine your best choice.
New Brunswick Cities
French and Spanish speaking counsellors are available