Canada’s high personal debt levels have some ugly side effects
Headlines about record-high household debt and record-low savings rates have been in the news quite a lot lately. Behind the numbers, graphs, and expert opinion, are the real Canadians who are dealing with this harsh reality. While Consolidated Credit’s trained credit counsellors help these people every day, the general public may not be aware of the real struggles and intimate stories of Canadians living with out-of-control debt.
The Huffington Post has recently launched a series called “Borrower Beware,” focusing on the scary side of debt. They look at collection calls, shadow mortgage lending, and predatory loans – a loosely-regulated financial world that they call the “wild west” of banking.
Some of the people that shared their stories with HuffPost are also people who have turned to Consolidated Credit for help:
The “Borrower Beware” section also features a collection of Consolidated Credit’s executive director Jeff Schwartz’s regular HuffPost blog contributions that look at growing trends in personal finance and offer timely advice.
If your debt levels have spiraled out of control and pushed you to consider less-than-ideal options, it’s time you called a trained credit counsellor at to learn about options that will help you become debt-free without becoming a victim. You can also start the process online by trying our Free Debt Analysis. Take control of your financial future!