Canadians And Credit Debt

2015-10-05   minute read

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: was originally posted online at The Vancouver Sun on September 11, 2015.

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