Category: News

Debt Relief Canada – Consumer debt delinquency falls to pre-recession levels

>December 14, 2012

    TORONTO – Equifax Canada says delinquencies on consumer debt fell to pre-recession levels during the summer – even though the amount of money owed continued to rise. The credit-monitoring firm says only 1.22 per cent of debts were unpaid after 90 days or more in the July-September quarter. That’s down sharply from 1.37 per […]

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Debt Relief Canada – The pros and cons of layaway plans

>November 22, 2012

A few years ago, my boyfriend was looking for a used bicycle. After months of searching, he finally found   one. However, it was just a little out of his price range. He didn’t think he could find a similar one with all the features he was looking for, so he asked the shop if they would […]

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Debt Relief Canada – Warning Signs of Debt

>November 13, 2012

There are a number of warning signs that tell you when you are too far in debt and need to make changes in order to avoid bankruptcy. You are too far in debt if you: -Frequently pay bills after their due date; -Regularly bounce cheques; -Use an advance from one credit card to pay the […]

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Debt Relief Canada – The borrowing binge: Consumer debt hits eight-year high

>November 6, 2012

Despite repeated warnings, Canadians have returned to their borrowing ways, pushing consumer debt levels to a new record high. A report released Thursday by TransUnion shows that the average Canadian’s non-mortgage debt reached $26,221 in the second quarter of 2012, up $192 from the previous quarter. The $26,221 amount is the highest per person debt […]

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Debt Relief Canada – Hard-pressed homeowners just close their eyes and borrow some more

>October 26, 2012

Canadians will learn an ugly lesson if they keep piling on debt the way they are at the moment. The Bank of Montreal report that came out Monday and noted that almost three-quarters of homeowners would feel a significant squeeze from even a small rise in interest rates shows just how close Canadians are to […]

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Debt Relief Canada – Economy aiding in debt reduction

>April 1, 2011

While Canadians continue to carry record debt loads, improvements in the economy are allowing them to service that debt. Details in the earnings reports from CIBC and National Bank suggest that the banks are seeing fewer credit card accounts slipping into arrears, as Canadians find the cash to make at least their minimum payments. Loss […]

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