Reading Time: < 1 minute

Canadians in more debt than ever

Figures released last week by Statistics Canada show that  the level of indebtedness of households across Canada is getting worse. In fact, it is at a record high.

The stats show that as of half way through 2013 Canadian households owe $1.63 for every $1 of disposable income they have.

In Canada debt review or debt counselling is done mostly by not for profit organisations.

 

Similar statistics are reported by the NCR here in SA. Recently the NCR are saying that larger numbers of consumers are applying for debt review each month. Especially in the last 3 months.