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According to Statistics Canada, households in Canada had the highest debt level ever when measured as a portion of disposable income in 2015’s second quarter. The ratio of household credit market debt to disposable income rose from 163% in Q1 to 164.6% in Q2. This means that for every dollar of disposable income households brought in, they owed almost $1.65. As interest rates have fallen in the country, more Canadians have gone further and further into debt.
MNP LTD Trustee Lana Gilbertson talks to Business Vancouver in an article about the amount of debt many Canadian families are dealing with and how they are looking for feasible debt solutions.
The original article https://www.biv.com/article/2015/9/canadian-household-debt-ratio-hits-highest-level-r/ was originally posted online on Business Vancouver on September 11, 2015.
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