Debt Relief Solutions in Prince Albert, SK
Residents of Prince Albert, Saskatchewan have reduced their payments by up to 50% by contacting Debt.ca for help.
Debt.ca will evaluate your situation and refer you to qualified and vetted professionals based on the solution that will work best for you.
Reduce Your Payments By Up To 50%
Lower Your Interest Rates
Make One Low Monthly Payment For All Your Debt
Debt Free in as little as 24 – 48 Months
Canadian Debt Relief
Debt Management Plans
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!
CREDIT COUNSELLING SERVICES IN PRINCE ALBERT, SK
Many people require credit counselling services in Prince Albert. If you’re one of those people, Debt.ca can increase your financial literacy with our credit counselling services. The majority of us face debt problems at some point, so there is no shame in speaking to credit counsellors to find out what options may be available to them. Most people never realize how much they are paying in credit card interest rates until it’s too late. If you want to repay your debt, your options can range from a debt management program or debt settlement to other debt relief options like a consumer proposal or bankruptcy.
You should be aware that the rate of bankruptcy by Saskatchewan residents fell over 6% in 2019 however the rate of Consumer proposals increased 20% throughout the province. If you live in Prince Albert and cannot pay your bills on time, then credit counselling may be the answer for you.
A Quality debt settlement program or credit counselling services in Prince Albert can help you get out from under your debt and shore up your financial future at the same time. If the goal is to be debt free, let our teamwork with you find the best debt solution available.
WOULD A DMP WORK FOR RESIDENTS OF PRINCE ALBERT, SK?
Residents of Prince Albert 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 Prince Albert 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 Prince Albert to determine if a DMP is the right option for you.
DEBT CONSOLIDATION OPTIONS IN PRINCE ALBERT, SK
As a citizen living in Prince Albert, 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 Prince Albert here.
OPTIONS FOR A CONSUMER PROPOSAL IN PRINCE ALBERT, SK
To file a consumer proposal, Prince Albert, SK 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 Prince Albert, SK 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 Prince Albert today.
HOW BANKRUPTCY WORKS IN PRINCE ALBERT, SK
Many people living in Prince Albert 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 Prince Albert call us to speak with a professional who can help.
YOU ARE NOT ALONE
In 2021, 179 Prince Albert residents reached out to debt.ca to finally tackle their debt problems. They were struggling with an average debt load of $20,852 but now have the help they need to get their finances, and their life, back on track.
Resources available in Prince Albert, SK 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:
Prince Albert Service Canada Centre
South Hill Mall 2995 2 Ave W,
Prince Albert, SK S6V 5V5
– Unemployment Assistance
– Child Benefits
– Senior Assistance
CRA – Canadian Revenue Agency
1955 Smith St Regina, SK S4P 2N8
Royal Canadian Legion Branch 2
133 8 St E, Prince Albert, SK S6V 0V8
Canadian Mental Health Association
1322 Central Ave,
Prince Albert, SK S6V 4W3
Saskatchewan Addiction Counselling
Gambling – (800)306-6789
Crisis Helpline (306) 757-0127
24/7 Crisis Suicide Hotline (306) 525-5333
Debt Consolidation Loans
Debt Relief Loans
Consumer Proposal Direct Help
Insolvency stats for Prince Albert
|Q2 ’22||Q1 ’22||Q4 ’21||Q3 ’21|
|PRINCE ALBERT IN TOTAL||151||127||115||89|
ANNUAL CONSUMER INSOLVENCY RATES IN SASKATCHEWAN
(Per 1,000 Population Aged 18 Years and Older)
|PRINCE ALBERT AND NORTHERN SK|
|AVERAGE CREDIT SCORE||642|
|AVERAGE HOME PRICE||$311,356|
|TOTAL INSOLVENCIES:||426 *(- 42%)|
|AV ASSETS / INSOLVENCY||$145,485 (- $8,948)|
|AV LIABILITIES / INSOLVENCY||$162,760 (+ $4,980 )|
|DEBT RATIO:||112% (+ 10%)|
|BANKRUPTCIES||173 *(- 55%)|
|AV ASSETS||$149,791 (+ $33,949)|
|AV LIABILITIES||$201,150 (+ $33,224)|
|DEBT RATIO:||134% (- 11%)|
|CONSUMER PROPOSALS||253 *(- 32%)|
|AV ASSETS||$142,541 (- $42,972)|
|AV LIABILITIES||$136,510 (- $13,099)|
|DEBT RATIO:||96% (+ 15%)|
* % change from 2019
About Prince Albert
WHAT IS UNIQUE ABOUT PRINCE ALBERT
Prince Albert is the third-largest city in the province of Saskatchewan with a population is about 35,900. Prince Albert is in the middle of the region along the North Saskatchewan River. The First Presbyterian Church that was built by James Nisbet is still there. It is now in Kinsmen Park.
Prince Albert is known for his jails. It has a federal penitentiary. It also has men’s and women’s correctional facilities. There is also a young offenders’ institution.
PRINCE ALBERT’S HISTORY
James Nisbet founded Prince Albert. He was a carpenter and a Presbyterian Minister. He was called to Saskatchewan to create a mission. James Nisbet named the city after Albert, Prince Consort. He was Queen Victoria’s husband.
Early settlers came to Prince Albert in the late 1860s and early 1870s. They came because there was a lot of land for timber and farming. Prince Albert had healthy forest, agricultural, steamboat, railway, and commerce industries. The river lot system set boundaries on the land.
This is how they divided and sold properties. More settlement in the 1800s caused Prince Albert to boom. Prince Albert became a city in 1904.
Prince Albert was once the capital of the District of Saskatchewan. This ended in 1905, when Saskatchewan became a province. Regina became the new provincial capital.
WHAT’S PRINCE ALBERT FAMOUS FOR?
Prince Albert is known as the “Gateway to the North.” This is because it is the last big centre before people get to northern Saskatchewan.
The city is also known for its schools, culture, and sports. Saskatchewan Polytechnic and the First Nations University of Canada are in Prince Albert. The city also has the Prince Albert Arts Centre and the E.A. Rawlinson Centre for the Arts for art and theatre.
There are also many museums, including Diefenbaker House. The Prince Albert Raiders are also there, which is a junior hockey team.
Prince Albert is also known for its cold weather. The climate is close to being subarctic.
WHAT ARE THE LARGE ECONOMIC DRIVERS?
Many developments are happening around Prince Albert. One of them is diamond exploration. Bio-fuels are also becoming more critical to the economy. This economic sector will grow. Uranium is even playing a more significant role in Prince Albert.