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

At Debt.ca, we understand that people might find themselves surrounded with 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 your 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!

Debt Counselling Services in Dartmouth, NS

If you need credit counselling services in Dartmouth, Debt.ca helps locals get out of debt. Not only do we help with credit, but we also have a range of programs that can help reduce your debt. With so many Dartmouth locals in need of help, we encourage you to increase your financial literacy with us.

If you live in Dartmouth and cannot pay your bills, then credit counselling may be the answer you are looking for. A debt settlement program or credit counselling services in Dartmouth can help you get out from under your debt in a few years.

Would a DMP work for residents of Dartmouth?

Residents of Dartmouth 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 Dartmouth, 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 debt in lieu of enrolling in a debt management plan. Speak to a counsellor in Dartmouth to determine if a DMP is the right option for you.

Debt Consolidation Options in Dartmouth, NS

As a citizen living in Dartmouth, 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 unsecure 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 Dartmouth here.

Options for a Consumer Proposal in Dartmouth, NS

To file a consumer proposal, Dartmouth 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 Dartmouth, individuals must know 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 Dartmouth today.

How Bankruptcy works in Dartmouth

Many people living in Dartmouth 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 the bankruptcy. If you’re thinking about filing for bankruptcy in Dartmouth, call us to speak with a professional who can help.

Families Debt.ca has helped in Dartmouth, NS

In 2020, 175 Dartmouth residents reached out to debt.ca to finally tackle their debt problems. They were struggling with an average debt load of $19,319 but now have the help they need to get their finances, and their life, back on track.

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Resources Available in Dartmouth, Nova Scotia 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 too:


Dartmouth Service Canada Centre
33 Alderney Dr,
Dartmouth, NS. B2Y 2N4
Available Services:
- Unemployment Assistance
- Child Benefits
- Senior Assistance

CRA – Canadian Revenue Agency
145 Hobson Lake Dr suite 100,
Halifax, NS. B3S 0J1
(800) 959-8281

Halifax Veterans Affairs
7105 Chebucto Road, Suite 2000
Halifax, NS
B3L 4W8
(866) 522-2122

Royal Canadian Legion Nova Scotia Nunavut Command
61 Gloria McCluskey Ave,
Dartmouth, NS. B3B 2C2
(902) 481-8425

The Salvation Army Men's Shelter
2044 Gottingen St,
Halifax, NS B3K 3A9

Canadian Mental Health Association
45 Alderney Dr #200
Dartmouth, NS B2Y 2N6
(902) 466-6600

Debt Consolidation Loans
Loans Canada
Debt Relief Loans

Consumer Proposal
Consumer Proposal Loans

Credit Reports
Credit Verify

Additional Credit Counselling resources available in:

 

Helping residents of Dartmouth and the surrounding locations: Cole Harbour, Woodlawn, Burnsde, Lawrencetown, Waverly, Goffs, Enfield, Fall River

Insolvency Stats for Dartmouth

 

Annual Consumer Insolvency Rates in Nova Scotia

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

Nova Scotia
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Insolvency 6.9 6.1 5.7 6.2 7.0 6.9 7.8 7.5 7.3 7.8
Bankruptcy 5.6 4.8 4.3 4.4 5.0 4.8 5.5 5.0 4.5 4.1
Proposal 1.3 1.3 1.4 1.8 2.0 2.1 2.3 2.5 2.7 3.7
Halifax/Dartmouth/ Cole Harbour
Insolvency 5.9 5.3 5.1 5.5 6.2 6.2 6.5 6.1 5.8 5.9
Bankruptcy 4.9 4.2 3.9 4.0 4.5 4.5 4.7 4.1 3.4 3.1
Proposal 1.0 1.1 1.2 1.5 1.7 1.8 1.8 2.0 2.4 2.8

Data from 2019 for Dartmouth / Cole Harbour, Nova Scotia

2019 Data
Population 92,301
Average Credit Score 638
Median Income $31,700
Average Home Price $265,450
Median Mortgage -
Insolvency
Total Insolvencies: 2,081 *(+2.5%)
Av Assets / Insolvency $78,944
Av Liabilities / Insolvency $107,971
Debt Ratio: 134%
Bankruptcy
Bankruptcies 1,084 *(-9.1%)
Av Assets $51,344
Av Liabilities $97,427
Debt Ratio: 189%
Consumer Proposals
Consumer Proposals 997 *(+16%)
Av Assets $108,953
Av Liabilities $119,434
Debt Ratio: 109%

* Compared to 2018

About Dartmouth

Dartmouth is on the eastern side of Halifax Harbour, directly across from the city of Halifax. Halifax occupies the western side of the Halifax Harbour. Dartmouth has a population of 90,000 and is a metropolitan area. A current concern of Dartmouth is the ageing population and lack of affordable housing.

History of Dartmouth

Dartmouth's community developed slowly over time. Founded in 1750, Dartmouth started its slow development. In 1752, a ferry service crossing the Halifax Harbour began and has operated since. Later in 1955, the cross-harbour bridge project finished connecting Dartmouth to Halifax. This bridge was crucial for Dartmouth because it increased accessibility. In 1970, a second bridge connected Dartmouth and Halifax. All of these modes of transportation facilitated Dartmouth's expansion over time. In fact, the construction of these bridges caused new industrial development and a housing boom.
Their earliest importance was the supply of farm produce to Halifax. In 1826, the agricultural industry became diversified. This was a result of the construction of the Shubenacadie Canal system. The Shubenacadie Canal connected the Halifax Harbour with the Bay of Fundy. Unfortunately, the system failed, but it did provide water power. The water power led to the establishment of light industries in the area.
In 1883, sugar and oil refinery began in 1916. Both of these helped Dartmouth's economy at the time, but the city didn't truly bloom until after World War II. From the 1970s onward, Dartmouth has taken advantage of economic and geographical factors. As a result, the city became a leader in the light industry and became the commercial center of the Maritimes. In 1968, Burnside Business Park opened. This is the largest complex that deals in sales, service, warehouse and distribution industries in Atlantic Canada.

What makes Dartmouth famous?

Today, Dartmouth is also predominantly known for the Bedford Institute of Oceanography, the Nova Scotia Research Foundation Corporation and the Nova Scotia Hospital. The industries Dartmouth primarily operates in includes construction, retail, healthcare, education, tourism, transportation, finance and manufacturing. The modern highway network continues to revitalize the downtown core. The highway network connects Dartmouth to industrial and residential regions.
Dartmouth's alternative name is the City of Lakes. This is because the city has 23 lakes used for water sports, such as kayaking, swimming, windsurfing and canoeing. If water isn't your thing, Dartmouth also has ample walking trails and other coastal beauties. Dartmouth has a lot of charm and has become known for its quaint, laid back culture.

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