Here’s Your Local Guide to Paying off Debt Faster before 2025 Ends
Edmonton residents have one of the highest rates of non-mortgage debt in Canada, with an average of $23,719 (approximately), according to a recent Equifax Canada poll. The average rent was $1,529 as of January 2025, which was 3% more than the previous year. People are moving to surrounding areas like Sherwood Park, Leduc, Morinville, etc., to escape paying excessive rent, but this doesn’t address the issue; you may save a few dollars, but transportation still costs money and time.
You may get help from credit consolidation, which is a more practical and efficient approach. Let’s evaluate how.
Credit Consolidation
In simple words, combining several debts into a single payment ata lower interest rate. This will make repayment simple and reduce the amount of interest. To get to know more you can read our previous blogs.
Where can you get help?
- You can apply for a consolidation loan from a bank or credit union
- Take a line of credit
- Join a structured debt management program conducted by a licensed credit counselor
Why Edmontonians are Choosing Consolidation in 2025
As mentioned above, in 2025, rent, utilities, and groceries are at their peak. Many families are managing it with their knowledge, but they are also falling behind in the current situation.
Where consolidation is not any magic trick to fix all problems, it is a clear road map built by finance expert to help you come out from your hurdle.
They assist you in creating an individual repayment plan based on your circumstances that will lower interest rates and make it simple to pay back your debt in a very reasonable amount of time. A well-structured payment plan can help you escape financial difficulties and develop future funds, so you don’t have to worry about your future finances.
How to work on Credit Consolidation in Edmonton
Here’s a simple overview:
- List all your current debts
- Review your credit score and income
- Work with a bank, credit union, or a trusted credit counselor to choose the right option
- Apply and get approval
- Pay off your debts as per your consolidated program
- Focus on making your new monthly payment
Most importantly, make sure to choose a reputable and listed Credit Consolidation Edmonton, you can contact Credit720 for support.
Furthermore, from the same survey, they conclude below:
Be a part of the strong financial future of Canada, just don’t wait up and reach out to us today. Your Consolidate Debt Edmonton rescue team is there with you.
