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Debt Relief Canada – Household debt surpasses six-figure mark

January 29, 2011

Canadian average household debt has hit the six-figure mark for the first time, according to a report released Thursday by the Vanier Institute of the Family. The average household debt figure at the end of 2010 was $100,879, with the debt-to-income ratio at a record 150 per cent, the report says. That means for every […]

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Debt Relief Canada – Credit card debt dropped during holiday season

January 23, 2011

There was a surprising drop in the amount borrowed on credit cards by Canadians during the holiday-laden fourth quarter, but overall non-mortgage debt went up substantially across the country, a credit analysis firm reported Wednesday. TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter of 2010 – up […]

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Debt Relief Canada – Insolvency Statistics in Canada

December 3, 2010

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.6 percent in September 2010 from the previous month. Bankruptcies increased by 9.6 percent, whereas proposals increased by 3.5 percent. Over the past 10 years, there were only two years when the total number of insolvencies filed in the month of September was […]

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Debt Relief Canada – What Is a Collection Agency and How Do I Deal With It?

November 20, 2010

A collection agency is an organization that obtains or arranges for payment of money owed to a third party; this could be a person or a company. If you’ve been notified in writing that an account has been turned over to a collection agency, don’t panic. The agency isn’t in business to make life unbearable […]

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Debt Relief Canada – Canadian Household Debt Soars

November 18, 2010

Much has been said recently about how Canadian families are ringing up huge amounts of debt, and consumers have been warned repeatedly that they may be in over their heads as interest rates rise. A snapshot of the developed countries by Scotia Capital today shows just where Canada ranks in terms of leverage: As a […]

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Debt Relief Canada – Debt collectors utilize Facebook to embarrass those who owe

November 18, 2010

Tampa, Florida — Debt collectors can be relentless and downright rude on the phone, but now a St. Petersburg woman is filing suit alleging the company that financed her car loan began harassing family members over the social networking website Facebook. Melanie Beacham says she fell behind on her car payment after getting sick and […]

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