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Canadian Consumer Debt News: $200 Increase Could Spell Disaster for Many

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Canadian Consumer Debt News: $200 Increase Could Spell Disaster for Many

We are continually on the watch for news about Canadian consumer debt and the impacts of certain market conditions such as interest rates and a booming housing market. This week is no different.

Last week, the Huffington Post released this alarming article regarding debt levels, entitled “Canadian Debt Levels Would Crush Them If They Were $200 Higher Per Month: Survey.” Discussed within the article is a survey done by consumer insolvency firm MNP Ltd.

The survey results leave much to be desired. According to the responses of the over 1500 Canadians, 56% said they are only a couple hundred dollars from a debt crisis.

Another 52% said they are worried about their current debt levels, while half of the individuals surveyed said that they regretted owing so much money. An additional 38% said raising interest rates could leave them on the verge of bankruptcy.

Check out the article in full here: http://www.huffingtonpost.ca/2016/09/28/canadian-debt-levels_n_12235290.html.

If you find yourself reading the article and counting yourself among the group highly concerned about your current debt levels, it might be time to consider alternatives.
At DebtCare, we know how important it is to feel financially secure. With the current economy and Canadian consumer debt levels sitting at all-time highs, don’t leave yourself vulnerable.

Call us today at 1-888-890-0888.

 

 

 

 

 

 

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