Debt Consolidation in Action: Quebec

See how we’ve helped other Quebecers overcome their issues with debt.

This page can help you know how debt impacts you and many others in the province and give you more information about Quebec debt consolidation. We also show you some case studies of clients who we’ve helped to manage their debt. If you need help to overcome your challenges with debt, call us at (844)-402-3073 or complete our easy debt analysis.

High-Level View of Quebec Debt

According to the federal government’s Ministry of Finance department, Quebec’s gross debt as of March 31, 2020 is $197.7 billion. According to the Quebec debt clock, the average debt per taxpayer is $64,563.30. While the province has been experiencing economic growth over the last few years, the debt burden is too high.

However, the gross debt was 48 per cent of Gross Domestic Product. The Quebec government was able to reach its goal of 43 per cent of GDP this year. The expected GDP ratio will be as low as 38.9 per cent by the year 2026.

Learn more about the public sector’s debt as it pertains to you.

Debt statistics in Quebec

The unemployment rate in Quebec is above the national average at 7.0 per cent. Although Quebec is 0.2 per cent above the national unemployment rate of 6.8 per cent, recent findings from the June Labour Force Survey indicate the unemployment rate in the province of Quebec is trending lower. Nevertheless, like many other Canadians Canada-wide – Quebecers have not been immune to the cycle of debt. The average debt load statistics of Quebecers’ public finances are as follows:

  • Average credit card debt: $7,409.00 per borrower
  • Average student debt: $3,221.00
  • Average mortgage debt: $185,303.00
  • Average consumer debt (non-mortgage): $51,582.00

All of the above statistics are from Statistics Canada.

Insolvency Statistics

Canada20202019% Change
– Total Insolvencies96,458137,178-30%
– Consumer Proposal63,57882,769-23%
– Bankruptcy32,88054,409-40%
Quebec20202019
– Total Insolvencies26,68342,865-38%
– Consumer Proposal14,96922,827-34%
– Bankruptcy11,71420,038-42%
Source: ic.gc.ca

Real Case Studies


Lisa was happy to find help

Wonderful friendly helpful people!!!

Lisa from Pointe-Claire, QC

Where she started:

  • Total unsecured debt: $44,000.00
  • Estimated interest charges: $26,020.67
  • Time to payoff: 15 years, 5 months
  • Total monthly payments: $1760.00

After DMP enrollment:

  • Average negotiated interest rate: 0.00%
  • Total interest charges: $0.00
  • Time to payoff: 4 years, 2 months
  • Total monthly payment: $873.00

Time Saved: 11 years, 3 months

Monthly Savings: $887.00

Interest Saved: $26,020.67


Diane is anxious to finish

Customer service with consolidated credit has been very helpful to me. I am very happy with the service. I am anxious to finish paying my bill though.

Diane from Montreal, QC

Where she started:

  • Total unsecured debt: $8,511.00
  • Estimated interest charges: $4,600.52
  • Time to payoff: 10 years, 0 months
  • Total monthly payments: $340.44

After DMP enrollment:

  • Average negotiated interest rate: 4.98%
  • Total interest charges: $718.18
  • Time to payoff: 3 years, 4 months
  • Total monthly payment: $231.00

Time Saved: 6 years, 8 month

Monthly Savings: $109.44

Interest Saved: $3,882.34

Quebec Cities

Speak to a trained counsellor today to determine your best choice.

French and Spanish speaking counsellors are available

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