A woman surrounded by bills and invoices on the floor, looking stressed while managing personal finances—illustrating the emotional toll of credit card debt.

Credit Card Stress and Missed Payments Are Rising in Alberta—Here’s How to Get Help

If you’ve missed a credit card payment recently, you’re not alone. According to the latest Equifax Canada report, more than 1.4 million Canadians missed at least one credit payment in the first quarter of 2025—the highest level of non-mortgage delinquencies (missed payments) since 2009.

For many Albertans, that statistic hits close to home.

Alberta ranked second highest in the country for year-over-year increases in missed non-mortgage payments, up nearly 16% compared to Q1 of 2024. In cities like Calgary and Edmonton, average consumer debt hovers around $24,000, with delinquency rates also on the rise. It’s clear that the financial squeeze isn’t just about inflation or rising interest rates—it’s about debt stacking up and getting harder to manage.

Why Are So Many Albertans Falling Behind?

There’s no single reason. But the data suggests a few key factors:

Higher Debt Loads: The average non-mortgage debt per Canadian is now $21,859, with Albertans carrying more than the national average.
Younger Adults Are Struggling Most: Those aged 18–25 saw a 20% increase in missed payments—and their average debt still rose.
Credit Card Pay Rates Are Falling: Fewer people are paying off their credit cards in full, especially younger consumers, who are increasingly becoming minimum payment-only users.
Refinancing Pressure: Many Albertans are renewing mortgages at much higher rates, straining monthly budgets and leaving less money for other debt payments.

This combination of high debt, rising costs, and minimum payments can trap people in a cycle that’s tough to break on your own.

Signs You Might Be Falling Behind

Sometimes, it’s not one big moment that signals financial trouble—it’s the slow build-up of stress and struggle. Here are some common signs that you might be falling behind on your debt:

You’re only making minimum payments

Paying just the minimum on your credit card might keep you from falling into delinquency right away, but it also means your debt isn’t really shrinking. Over time, interest piles up and the balance barely moves, creating a cycle that’s hard to escape.

You’re losing sleep over money

If debt is keeping you awake at night, you’re not alone. Financial stress can take a real toll on your mental and physical health, leading to anxiety, exhaustion, and even depression.

You’re fighting with your partner about money

Money is one of the leading causes of stress in relationships. Constant arguments, tension, or secrecy around spending can all be signs that financial pressure is affecting more than just your bank account.

You’re researching debt solutions at work

Spending time at your job reading about debt consolidation, bankruptcy, or credit counselling? That might be a sign that debt is dominating your thoughts and starting to interfere with your day-to-day life.

You’re juggling debt with debt

If you’re moving money around—using one credit card to pay off another, taking out payday loans to cover bills, or using overdraft regularly—you’re not alone. But this “robbing Peter to pay Paul” approach often leads to higher debt and more stress down the line.

You’re getting calls from creditors or collection agencies

When payments are late, collection calls and letters often follow. These can feel overwhelming and embarrassing—but they’re also a sign it’s time to reach out for help before things get worse.

But You Don’t Have to Navigate It Alone

At Money Mentors, we understand how overwhelming debt can feel—especially when you’re working hard and still can’t seem to get ahead. Our accredited financial counsellors are here to offer personalized, judgment-free support to help you regain control.

We also offer a unique solution that’s only available right here in Alberta: the Orderly Payment of Debts (OPD) program.

What’s the OPD Program—and Could It Help You?

The Orderly Payment of Debts (OPD) program is a federally backed debt repayment plan offered only through Money Mentors in Alberta. It combines your unsecured debts—like credit cards, payday loans, or tax debt—into one monthly payment with a fixed 5% interest rate.

Benefits of the OPD program include:

One manageable monthly payment
Fixed interest rate of 5%
No more collection calls
Debt-free in five years or less
No bankruptcy required

You’ll work with an accredited financial counsellor to create a realistic budget, and your payments will go directly to your creditors over time, helping you become debt-free in a structured and supported way.

One Alberta Story: From Overwhelmed to Debt-Free

A smiling single mother holding her baby, representing hope and financial freedom after paying off $85K in debt with Alberta’s Orderly Payment of Debts (OPD) program.

Behind every statistic is a story—and Samantha’s is one many Albertans can relate to.

After a tough divorce left her with $85,000 in debt and a modest $32,000 income, Samantha, a single mom and full-time student, felt completely overwhelmed. Like many, she tried to manage on her own. But the constant stress, sleepless nights, and rising interest rates made it impossible.

It wasn’t until she heard about Money Mentors that she reached out for help. Through our free credit counselling services Samantha was able to look at all her options and decided to enroll in the Orderly Payment of Debts (OPD) program. Her debts were consolidated into a single monthly payment at a much lower interest rate, stopping collections and helping her breathe again.

With guidance from her counsellor and free financial education courses, Samantha didn’t just survive—she thrived. She paid off $77,000 in debt over five years, graduated, became a part-time instructor, and started planning her future with confidence.

Samantha’s journey is proof that you don’t have to face debt alone—and that there is a way out.

You’re Not a Statistic—You’re a Person Who Deserves Help

Missed payments are up. Debt levels are high. But behind every data point is a real person—like you—who may just need the right support at the right time.

If credit card stress is keeping you up at night or you’re falling behind on payments, reach out to us today. We’ll help you explore your options and get you on a path toward financial stability.

Talk to a counsellor today and take your first step toward being debt-free.

👉 Book a free appointment with Money Mentors

Because you deserve a future without financial stress.