Canada Consumer Debt

Canadians Still On Target For Record Year Of Personal Debt

CP | LuAnn LaSalle, The Canadian Press | Posted 04.28.2014 | Canada Business

MONTREAL - Canadians are still on target for a record year of personal debt despite ending 2013 by making a small dent in the money they owe, says cre...

We Owe $1.4 TRILLION

CP | Linda Nguyen, The Canadian Press | Posted 04.11.2014 | Canada Business

TORONTO - The love affair Canadians have with debt is still going strong, according to a new report by credit monitoring agency Equifax Canada.Equifax...

Canadians Are Full On Debt, Thanks

CP | David Friend, The Canadian Press | Posted 03.16.2014 | Canada Business

TORONTO - Canada's biggest banks say consumers are reaching the limit on how much they can afford to borrow, and that's likely to slow loan growth thi...

Will Debt-Laden Canadians Pull Back On Borrowing? Um..

CP | Will be writethru. Moves Business and National., The Canadian Press | Posted 02.18.2014 | Canada Business

TORONTO - Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year.In its first such annual for...

The Myth of Harper's Economic Competence

Sean Casey | Posted 11.23.2013 | Canada Politics
Sean Casey

Under Stephen Harper, household debt has exploded. The average household debt-to-income ratio (the amount of debt the average Canadian household owes for every dollar of their annual disposable income) has risen from $1.31 to $1.64 -- which is where the United States was before the housing market crashed.

Big Jump In Number Of Indebted Canadians

The Huffington Post Canada | Daniel Tencer | Posted 07.24.2013 | Canada Business

The number of Canadians carrying debt jumped nine percentage points in the past year, but the size of debt payments has shrunk, says a new survey from...

Half Empty Or Half Full?

CP | The Canadian Press | Posted 08.05.2013 | Canada Business

TORONTO - A new Harris/Decima poll conducted for CIBC says half of the respondents had been able to reduce their debt level over the past 12 months.It...

Carney Bailing On Canada At Just The Right Time: Analyst

The Huffington Post Canada | Daniel Tencer | Posted 04.18.2013 | Canada Business

Bank of Canada Governor Mark Carney warned on Thursday the bank could raise interest rates if the growth in household debt doesn’t slow. It was a...

Consumer Debt In Canada: How Startups Can Fix Canada's Debt Problem

David Feller | Posted 06.01.2013 | Canada Business
David Feller

The banks aren't going to innovative. It wasn't Blockbuster that disrupted the movie rental business. It wasn't the record companies that revolutionized the music industry's business model. If we're going to find a solution, we need more startups introducing compelling alternatives.

There's No Such Thing As a Miracle Fix For Debt

Jeffrey Schwartz | Posted 04.07.2013 | Canada Business
Jeffrey Schwartz

Consumer debt has become a major concern in Canada. The stress of dealing with unmanageable debt can be overwhelming for most consumers. Between creditor calls, collection threats and living paycheque to paycheque, "get out of debt fast" opportunities can be very appealing. But are they too good to be true?

Forget Retirement, Canadians Just Trying To Pay Off Debt

CP | Posted 01.23.2014 | Canada Business

TORONTO -- Canadians appear less concerned about retirement planning than in years past as they continue to focus on debt reduction as their main fina...

Consumer Debt Hits All-Time High, Again

CP | Julian Beltrame, The Canadian Press | Posted 02.12.2013 | Canada Business

OTTAWA - Canadians are more in hock today than ever before, Statistics Canada said Thursday in releasing fresh data on household debt.The new report s...

B.C. Optimistic About Economy

The Huffington Post B.C. | Jesse Ferreras | Posted 11.27.2012 | Canada British Columbia

British Columbians are an optimistic bunch when it comes to the economy despite soaring personal debt. That's the conclusion from Royal Bank of Can...

Does Debt Equal Happiness?

The Huffington Post Canada | Daniel Tencer | Posted 10.22.2012 | Canada Business

Recent data revisions from Statistics Canada showed that Canadians are even more in debt than previously estimated. The average household debt in Cana...

You're More In Debt Than You Think: StatsCan

The Huffington Post Canada | Daniel Tencer | Posted 10.15.2012 | Canada Business

Canadians, you’re more indebted than you think. Statistics Canada is busy re-evaluating economic data going back two decades as part of an effort...

'Canadians Have Become Totally Blase About Debt'

CP | Sunny Freeman, The Canadian Press | Posted 11.24.2012 | Canada Business

TORONTO - A new poll suggests that most Canadians are quite comfortable with using debt as a financial strategy — at a time when debt loads have ris...

UNDER PRESSURE

CP | David Friend, The Canadian Press | Posted 10.26.2012 | Canada Business

TORONTO - Canada's biggest banks have weathered the economic downturn better than their peers, but analysts expect that tightened consumer lending wil...

Mortgage Rates Hit All-Time Lows .. And Why That's Bad News

The Huffington Post Canada | Daniel Tencer | Posted 08.02.2012 | Canada Business

Canada’s fiscal policymakers are working to cool off the country’s overheated real estate market, tightening lending restrictions and warning buye...

Banks Rated 'Negative' On Real Estate Bubble Fears

CP | The Canadian Press | Posted 09.29.2012 | Canada Business

TORONTO - Standard & Poor's Ratings Services has revised its outlook from stable to negative on seven Canadian banks over concerns about unsustainably...

We're Still Piling On Debt -- But More Slowly

CP | Sunny Freeman, The Canadian Press | Posted 09.18.2012 | Canada Business

TORONTO - Consumer debt growth was about 30 per cent lower in the second quarter than a year earlier — the biggest slowdown since before the recessi...

Canadians' Debt Hits Another High

CP | Julian Beltrame, The Canadian Press | Posted 08.15.2012 | Canada Business

OTTAWA - Canadian households have hit a dubious new record for debt.Fresh Statistics Canada data shows the ratio of debt to personal disposable income...

Still Piling On Debt At Breakneck Pace..

CP | Sunny Freeman, The Canadian Press | Posted 06.12.2012 | Canada Business

TORONTO - Canadians are continuing to heap on non-mortgage debt, despite warnings about the perils of cheap borrowing from top officials, according to...

As Debt Grows, Canadians Ready To Stop Spending

CP | Julian Beltrame, The Canadian Press | Posted 06.10.2012 | Canada Business

More Canadians acknowledge they may be reaching the upper limits on borrowing, but they have yet to act on it, two new reports suggest.A survey releas...

Rachel Mendleson

Canadians Both Worried And In Denial About Debt: Poll

HuffingtonPost.com | Rachel Mendleson | Posted 03.27.2012 | Canada Business

With policymakers warning about rising household debt levels, a new survey shows that Canadians are both worried about what they owe, and in denial ab...

Guess Which Region Of Canada Carries The Most Household Debt

CBC | Posted 05.23.2012 | Canada Business

Some of Canada's top financial minds have warned that Canadians have been adding too much debt to the household balance sheets over the pa...