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Record High Household Debt in Canada Triggers Alarm

Posted by Tony McGoran
Tony McGoran
Tony McGoran is president of mydebtsolution.com, who maintains an active role as a Credit Consultant counselli...
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on Tuesday, 20 December 2011
in In the News

Found an article in the Globe and Mail that you may find interesting. Full article is here. Remember, if any of this is a concern and you are feeling the debt pressure yourself, mydebtsolution.com can help. Contact Us or simply get started with a Full Review and make it your New Years resolution to "become debt free!"

Canadians have set a new record for household debt, a sign that many families are leaving themselves vulnerable to an economic shock.

The debt burden of Canadian households has surpassed levels of both the United States and the United Kingdom and, by at least one measure, they are hurtling toward those countries’ peak levels of 2007, new Statistics Canada data show.

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logo-footermydebtsolution.com, a division of Fraser Valley Credit Services Ltd., provides consumers all across Canada with effective, private Credit Counselling, Debt Settlement and Debt Management Plans through online, and Toll Free direct services. Since 1987, we have been helping people regain control of their finances and successfully pay off their debts or credit card debt with affordable Debt Management programs and discounted Debt Settlement options to avoid bankruptcy. We are the first government licensed, bonded Credit Counselling and Debt Management service based in BC. read more