Nation’s capital sees average non-mortgage debt increase 2.6%
A recent debt report from Equifax shows that the average Canadian non-mortgage debt has risen to $20,910; a 2.7 per cent increase compared to the same time last year. And despite some cities seeing a slow down (Calgary and Edmonton), citizens of Ottawa continued to rack up their tab.
Compared to the first quarter of 2014, average non-household debt in Ottawa grew 2.6 per cent to $20,420.
Ottawa’s 1310 News contacted Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, to break down the numbers and find out how people in Ottawa can reverse the trend and work towards becoming debt-free.