Debt Consolidation in Action: Saskatchewan

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

When it comes to debt problems Saskatchewaners are really having a difficult time to make ends meet. The unemployment rate in the province of Saskatchewan is 6.1 per cent and it is edging closer to the national average of 6.8 per cent. Many Saskatchewaners are also having a hard time paying off their debts and as a consequence, they are filing for bankruptcy or seeking advice on insolvency. The following will help you gain a better understanding of how debt can affect you and your fellow residents in Saskatchewan. We also show you some real-life case studies of how we’ve helped other Saskatchewaners manage their debt. If you need help, call us at (844)-402-3073 or complete our easy debt analysis.

Debt statistics in Saskatchewan

To get a better idea of how you compare to other Saskatchewaners, here are the averages of some debt statistics:

  • Average credit card debt: $1,179.00 per borrower
  • Average student debt: $885.00
  • Average mortgage debt: $24,741.00
  • Average consumer debt (non-mortgage): $7,859.00

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%
Saskatchewan20202019
– Total Insolvencies2,6403,453-24%
– Consumer Proposal1,7622,136-18%
– Bankruptcy8781,317-33%
Source: ic.gc.ca

Case Study

Bonnie from Kelvington, SK

“Consolidated Credit made it very easy for me to feel better about my life and I found the friendliness and knowledge fantastic. Thank you ever so much. ”

Where she started:
  • Total unsecured debt: $5,020.60
    Estimated interest charges: $2,633.08
    Time to payoff: 9 years, 7 months
    Total monthly payments: $200.82
After DMP enrollment:
  • Average negotiated interest rate: 0.00%
    Total interest charges: $0.00
    Time to payoff: 3 years, 11 months
    Total monthly payment: $109.00
Time Saved

5 years, 8 months

Monthly Savings

$91.82

Interest Saved

$2,633.08

Case Study

Barbara from Martensville, SK

“Thank you so much for being there for us when we were in trouble and at a very low point in our life. You made it possible for us to see our way out!!! We have learned many valuable lessons through this journey thanks to you. ”

Where she started:
  • Total unsecured debt: $40,155.00
  • Estimated interest charges: $22,828.25
  • Time to payoff: 13 years, 8 months
  • Total monthly payments: $1,606.20
After DMP enrollment:
  • Average negotiated interest rate: 1.50%
  • Total interest charges: $1,384.75
  • Time to payoff: 3 years, 9 months
  • Total monthly payment: $930.00
Time Saved

9 years, 11 months

Monthly Savings

$676.20

Interest Saved

$21,443.50

Case Study

Adam K from Moose Jaw, SK

“I came to Consolidated a year ago, with a decent amount of headache from all sorts of companies. Consolidated was able to talk to everyone and get me on track and at a VERY affordable price. Now I have paid fifty percent of my debt, and the companies have stopped calling. Debt is going down and within one year, it will be gone entirely. ”

Where he started:
  • Total unsecured debt: $3,635.00
  • Estimated interest charges: $1,692.82
  • Time to payoff: 8 years, 11 months
  • Total monthly payments: $150.60
After DMP enrollment:
  • Average negotiated interest rate: 0.0%
  • Total interest charges: $0.00
  • Time to payoff: 2 years, 1 month
  • Total monthly payment: $146.00
Time Saved

6 years, 10 months

Monthly Savings

$4.60

Interest Saved

$1,692.82

Saskatchewan Cities

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