DEBT.CA IS CANADA'S TRUSTED SOURCE FOR DEBT HELP

At Debt.ca, we understand that people might find themselves surrounded by debt for many reasons including job loss, reduced income, medical expenses, or even the rising costs of raising a family. And when faced with a mountain of consumer debt, it is quite easy to become overwhelmed and to believe that you will never be able to pay off your creditors. The high-interest rates associated with consumer debts, late fees for those who are behind on their payments, and much more can seem to conspire against your attempts to become debt free. That is why we want to help all Canadians better understand their debt relief options and save the most money while they get out from under their unsecured loans. Are you struggling with debt or trying to figure out which Canadian debt relief program will help you get out of debt in the quickest amount of time and for the least amount of money? If so, let us show you that you can live a life free of bills and you do have more options than you probably realize. Simply put, if you are paying out more money every month than you have coming in, we can get you to a professional who can help. Fill out the form above to get started today!

Credit Counselling Services in Grand Prairie, Alberta

Nowhere in the country is that more noticeable than in Alberta the number of residents filing for insolvencies has increased by 14.6% in 2019 compared to the number of filings in 2018. Bankruptcy protection in Alberta along with Consumer Proposals jumped in 2019 by 13% and 15% respectively over the 2018 levels. Grand Prairie has been especially hard hit, seeing double-digit jumps in Insolvencies, Consumer Proposals and bankruptcy protection compared to 2018. If you live in Grand Prairie and cannot pay your bills on time or are seeing your overall debt levels increase month after month, then credit counselling may be the answer you are looking for. A quality Edmonton credit counselling program can help you get out from under your debt and shore up your financial future at the same time.

Would a DMP work for residents of Grand Prairie?

Residents of Grand Prairie often confuse debt management plans with credit consolidation, because they have some similarities. For instance, both programs entail converting several debts into one monthly payment for ease of tracking. However, you still owe the original creditors when you enroll in a debt management plan (DMP). Conversely, you only owe one entity when you participate in a debt consolidation loan. If you’re considering a DMP in Grand Prairie, you must have a steady source of income. While DMPs serve those with more than $10,000 of debt, homeowners may have to cash out equity instead. Likewise, individuals who have funds in their RRSP may have to use those funds to pay off the debt in lieu of enrolling in a debt management plan. Speak to a counsellor in Edmonton to determine if a DMP is the right option for you.

Debt Consolidation Options in Grand Prairie

As a citizen living in Grand Prairie, it’s not uncommon to fall on hard times. If you’re experiencing difficulty keeping up with your financial obligations, debt consolidation may be your best option to get back on track. As such, consolidating your unsecured debts can make managing your payments easier. For example, multiple credit card debts and other liabilities combine into a single monthly payment. This makes it easier to prepare for and remember when just one due date is approaching every month. In addition, that single payment can be more manageable, with a lower interest rate than the existing rates on your different debts. While there are different ways to consolidate your debt, the most common way is through procuring a loan. However, your ability to qualify for a consolidation loan depends on your current credit score. Learn more about the debt consolidation process in Grand Prairie here.

Options for a Consumer Proposal in Grand Prairie

To file a consumer proposal, Grand Prairie residents must go through a Licensed Insolvency Trustee in the area. Consumer proposals allow their participants to pay back less than what they owe to their creditors. Despite how good that sounds, it comes with some drawbacks and should be a last resort, much like bankruptcy. To qualify for a consumer proposal in Grand Prairie, individuals must know to owe more than $250,000. Likewise, a married couple filing jointly cannot have more than $500,000 in debt. Paying less than what you owe at a lower interest rate comes with some heavy consequences. For one, your credit score drops to the absolute lowest it can go. In addition, the consumer proposal will remain on your credit report up to three years after you complete the five-year program. This can make acquiring credit or buying a home or auto more difficult. Speak to a member of our team who understands the laws regarding consumer proposals in Edmonton today.

How Bankruptcy works in Grand Prairie

Many people living in Grand Prairie can find it difficult to keep up with the cost of living. If your debts have been piling up to an unmanageable amount, declaring bankruptcy might be the solution to your money troubles. However, one must never take bankruptcy lightly, as it is only a last resort. Speaking to a Licensed Insolvency Trustee can shed some light on your options and inform your next steps in finding a fitting solution. Remember, declaring bankruptcy gets most of your debts forgiven, however you forfeit most of your valuable assets in return. In addition, you will no longer experience wage garnishments. Conversely, you may not be able to obtain credit for seven years, and there is a limit on how much you can earn during bankruptcy. If you’re thinking about filing for bankruptcy in Grand Prairie, call us to speak with a professional who can help.

You are not alone

In 2020, 183 Grand Prairie residents reached out to debt.ca to finally tackle their debt problems. They were struggling with an average debt load of $31,102 but now have the help they need to get their finances, and their life, back on track.

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Resources Available in Grand Prairie, Alberta for people needing debt relief help

If you are struggling to make ends meet, apart from seeking professional credit help,  there are several national, state, local government agencies, along with non-profit organizations, you can turn to:


Edmonton Canada Place Service Canada Centre
11601 101 Ave #101,
Grande Prairie, AB T8V 3X9
Available Services:
- Unemployment Assistance
- Child Benefits
- Senior Assistance

CRA - Canadian Revenue Agency
11601 101 Ave #101,
Grande Prairie, AB T8V 3X9
(800) 959-8281

Edmonton Veterans Affairs
12325 97 Street,
Edmonton, Alberta
Veterans Service Centre
(888) 228-3871

Mountain Plains Community Services Society Of The North
10109 97 Ave #205,
Grande Prairie, AB T8V 0N5
(780) 532-7170

The John Howard Society of Grande Prairie
10135 101 Ave,
Grande Prairie, AB T8V 0Y5
(780) 532-0373


Alberta Mental Health Patient Advocate Office
10055 106 St NW
Edmonton, AB T5J 2Y2
(780) 422-1812

The Salvation Army Community & Family Services
9615 102 St
Grande Prairie, AB T8V 2T8
(780) 532-3720

Debt Consolidation Loans
Loans Canada
Debt Relief Loans

Consumer Proposal
Consumer Proposal Loans

Credit Reports
Credit Verify

Additional City Resources in Alberta

 

Helping residents of Grand Prairie and the surrounding locations including Debolt, Bezanson, Clairmont, Westlake, Sexsmith, Webster, Valhalla Centre, La Glace, Dimsdale, Beaverlodge, Hythe, Grovedale, Rycroft, High Prairie, Peace River, Grimshaw, Dawson Creek BC

Insolvency Stats for Grand Prairie

Grand Prairie, Alberta Quarterly Data from 2020

Q4 2020 Q3 2020 Q4 2019
Bankruptcies 49 45 80
Consumer Proposals 153 103 136
Total 202 148 216

Annual Consumer Insolvency Rates in Alberta

(Per 1,000 Population Aged 18 Years and Older)

Alberta
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Insolvency 3.8 3.5 3.1 2.7 2.6 3.1 4.0 4.0 4.4 4.9
Bankruptcy 2.9 2.5 2.0 1.5 1.2 1.3 1.7 1.5 1.5 1.7
Proposal 1.0 1.0 1.2 1.2 1.4 1.7 2.4 2.5 2.9 3.3
Grand Prairie*
Insolvency 4.4 3.4 2.9 2.1 2.4 2.9 4.4 3.7 3.8 4.3
Bankruptcy 3.2 2.5 2.0 1.4 1.3 1.5 2.1 1.7 1.5 1.6
Proposal 1.2 0.9 0.9 0.7 1.1 1.3 2.3 2.0 2.4 2.7

* Banff – Jasper – Rocky Mountain House and Athabasca – Grande Prairie – Peace River

Data from 2020 in Grand Prairie, Alberta

2020 Data
Population 932,546
Average Credit Score 625
Median Income $85,660
Average Home Price $300,011
Median Mortgage $250,000
Insolvency
Total Insolvencies: 676 (- 27%)
Av Assets / Insolvency $158,523 (+ $17,661)
Av Liabilities / Insolvency $185,712 (+ $8,386)
Debt Ratio: 117% (- 9%)
Bankruptcy
Bankruptcies 202 (- 58%)
Av Assets $140,800 (+ $27,489)
Av Liabilities $208,626 (+ $19,062)
Debt Ratio: 148% (-19%)
Consumer Proposals
Consumer Proposals 474 (- 14%)
Av Assets $166,076 (+ $8,968)
Av Liabilities $175,947 (+ $5,837)
Debt Ratio: 106% (- 2%)

Source: https://www.ic.gc.ca/
*() change from 2019

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About Grand Prairie

Incorporated as a city in 1958, Grande Prairie’s name was inspired by the immense prairie surrounding it, as well as the way it was depicted by 19th-century fur traders. A trading post was established in 1881, but the settlement’s real development began with the arrival of the Northern Alberta Railway, in 1916. With a population of 69,088 (2018), the greatest portion is between the ages of 30 and 34; this also includes over 80 unique ethnic and cultural communities!

Facts About Grande Prairie

Frequently referred to as "Swan City", Grande Prairie, sanctioned the endangered Trumpeter swan as its official symbol; the dinosaur became an unofficial symbol, due to numerous paleontology discoveries in the area. There are a number of festivals held, such as the Live Music & summer-wide music festivals, Bear Creek Folk Festival, Maple Sugar Festival, and the Reel Shorts Film festival. The film festival features an international venue of short films, that lasts 5 days.

What is Grande Prairie Famous For?

The County is home to a mix of urban and rural vibrant communities and immense opportunities. Most significant sites to visit include:

  • Philip J. Currie Dinosaur Museum
  • Art Gallery of Grande Prairie & Grant Berg Gallery
  • Grande Prairie Museum & Heritage Village
  • Muskoseepi Park: offers 1100 acres of parkland, walking trails, manicured fields, and group use facilities
  • Great Northern casino
  • Nitehawk adventure park
  • Eastlink Centre

Large Economic Drivers in Grande Prairie

Major industries include agriculture, forestry, construction, energy, manufacturing, tourism, retail, and hospitality. Due to this, Grande Prairie is one of the utmost economically diverse cities in Alberta. It also serves as the transportation hub for an exchange zone of nearly 250,000 people, and is on the “CANAMEX” trade route, connecting Canada, the United States, and Mexico. As Alberta has no provincial sales tax, there is a high number of shoppers from other provinces, which remains a constant benefit to its economic growth.

Recent Changes that may have changed the Economic Outlook

The creation of Highway 43, in 1956, significantly enhanced Grande Prairie's accessibility and fiscal standing. The County profits from youthful, well-off demographics, local assets and strategies such as low municipal tax, no regional sales tax, and elevated amenities. Solid workforce accessibility, renowned infrastructure, and prospects for sustained progress offer the perfect combination for further economic expansion.