Debt Consolidation and Debt Help for Nova Scotia Residents

Many families in Nova Scotia are struggling with debt. Often times a financial crisis can be precipitated by job loss, a failed business, divorce or disability, amongst other reasons.

If you are struggling with debt your first choice may be to see what help is available. Debt consolidation and debt help is available to Nova Scotia residents, but it is important to research and understand who you are going to for help.

You may choose to deal with your debt different ways – through:

• -          a debt consolidation
• -          borrowing more money
• -          credit counselling
• -          consumer proposals
• -          bankruptcy
• -          debt settlements
• -          or a strong financial plan

Some of these choices could make your financial problem worse while other choices could turn your life in a more positive financial direction.

• -          We are not Bankruptcy Trustees – they represent your creditors.
• -          We are not like credit counselling agencies – they are largely funded by your Credit Card company’s donations.
• -          We are not a financial institution – we don’t put our clients in more debt.

Our only agenda is you! We represent YOUR interests.

Our services go well beyond the scope of other debt counselling services. We are Financial Consultants and our team sets the standard for its combination of Credit Counsellors, Insolvency Counsellors, Financial Experts, Legal Professionals and Community Educators in Canada.

DebtCare leverages Federal Government programs to help individuals and businesses struggling with debt. You will not pay one dollar to DebtCare, unless you have been accepted and approved into one of our programs.

Call DebtCare Canada today 1 (888) 890-0888.

Living with Debt in Nova Scotia

Historically the fishing industry has been the pillar of the Nova Scotia economy. Overfishing however caused this industry to suffer a sharp decline. This resulted in the loss of over 20,000 jobs in the early 90’s.  Nova Scotia’s GDP is consistently lower than the national average.

With that said, Nova Scotia now has one of the fastest growing economies in Canada as a result of the small business sector. Mining, offshore oil and gas, and agriculture have become key industries and job creators in Nova Scotia.

40% of Canada’s military assets reside in Nova Scotia and contribute about $1.5 billion to the provincial economy annually.

The Nova Scotia tourism industry includes more than 6,500 direct businesses, supporting nearly 40,000 jobs and this industry contributes approximately $1.3 billion annually to the economy.

In 2010, 4,148 Nova Scotians filed for bankruptcy, a decrease from the 4,577 people who filed in 2009. Conversely, consumer proposal filings increased from 778 filed in 2009 up to 970 filed in 2010.  

This is largely attributed to changes in the bankruptcy laws in Canada which make it much more expensive and difficult to file for bankruptcy, making a consumer proposal a more attractive option for Canadians who are struggling with debt.