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How do I respond to creditors?
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Canadians And Credit Debt
2015-10-05
There’s no denying it, many Canadians are currently experiencing financial distress. According to Statistics Canada, the household debt in Canada is at the highest level even 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.
MNP LTD Trustee Lana Gilbertson speaks with The Vancouver Sun in a recent video about debt and the danger associated with the fact that Canadians least able to deal with debt are taking on more than they can handle.
The original video:
http://www.vancouversun.com/video+canadians+credit+debt/ was originally posted online at The Vancouver Sun on September 11, 2015.
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