Sentences with phrase «cent of consumer debt»

Not exact matches

The savings rate is close to the 25 - year average of five per cent, which doesn't point to a consumer debt apocalypse.

TORONTO — A new report says the level of Canadian consumer debt at the end of 2012 — not counting mortgages — was up nearly six per cent from a year earlier.

FTC and state investigations in the U.S. have found that less than 10 per cent of consumers typically complete debt settlement programs there, according to the U.S. Government Accountability Office.

One would hardly realize that the problem facing U.S. industrial employment is that wage earners must earn enough to pay for the most expensive housing in the world (the FDIC is trying to limit mortgages to absorb just 32 per cent of the borrower's budget), the most expensive medical care and Social Security in the world (12.4 per cent FICA withholding), high personal debt levels owed to banks and rapacious credit - card companies (about 15 per cent) and a tax shift off property and the higher wealth brackets onto labor income and consumer goods (another 15 per cent or so).

Mortgages tend to make up 63 per cent of the total, consumer debt 29 per cent, and non-mortgage loans and trade accounts payable are each about eight per cent.

Canadian consumer debt to personal disposable income has soared to 167 per cent — an all - time high, made more problematic by the fact that home equity lines of credit (HELOC) comprised much of the increase.

«To achieve financial independence and minimize the chances of disaster, you need to get rid of consumer debt, save for retirement and build your emergency fund,» Weston explained on the website of nonprofit financial education organization Cents Ability.

Since 1991, the report said the total financial obligations of households has broken down, on average, in the following way: mortgage debt has represented 63 per cent of all debt, consumer credit 29 per cent and other loans eight per cent.

The total amount of credit market debt — which includes mortgages, non-mortgage loans and consumer credit — held by Canadian households increased to 162.6 per cent of disposable income during the quarter, from a revised 161.5 per cent in the previous quarter.

Statistics Canada said Friday that total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $ 1.923 trillion at the end of last year.

I would rather pay every cent of the $ 90,000 in consumer debt that we once faced, than go through that, unless I had no other option to keep a roof over my daughter's head and food on our table.

Alberta had the highest provincial average, at $ 28,240 of non-mortgage consumer debt per person — up 1.8 per cent from last year — followed by Saskatchewan ($ 24,690) and British Columbia ($ 24,026).

The analysis by TransUnion Market Trends shows average consumer debt in Canada, excluding mortgages, fell by two per cent to $ 26,935 in the first three months of 2013 from the fourth quarter in 2012.

Why pay somewhere between $ 1.04 and $ 1.35 to eliminate one dollar of your debt under a debt consolidation loan when you could eliminate that debt for about 30 cents on the dollar by making a consumer proposal?

In contrast, in most cases in a consumer proposal an individual can eliminate one dollar of debt for about 30 cents on the dollar — three to four times less expensive than a debt consolidation loan!

It says there was an overall delinquency rate of 2.58 per cent on non-mortgage consumer debts in the second quarter.

The consumer credit rating agency says the level at the end of the third quarter was up 7.4 per cent from $ 1.409 trillion a year ago, with non-mortgage debt held by Canadians now standing at an average of $ 20,891.

If 20 per cent of your take home pay is going towards consumer debt like credit cards or lines - of - credit, then you are headed towards financial trouble and should get some help now — not when you run out of options.

You may be able to legally walk away from a debt without paying a single cent by using debt validation, just like thousands» of other consumers have done.

Consumer debt loads and house prices that could be as much as 30 per cent overvalued are the two biggest risks to Canada's economy, the Bank of Canada warned in its semi-annual Financial System Review on Wednesday.

Consumer debt is growing; bankruptcies have soared 54.3 per cent over the past year with those in the know saying this would have happened with or without the recession; and, most disturbing, is the fact that debt is becoming a serious problem among young Canadians, with a growing number approaching Credit Canada with levels of student debt and credit card debt that are out of control.

Despite the higher level of household debt, Canadian household finances are stable with consumer bankruptcies down by 1.7 per cent and 90 - day - plus delinquency rate falling by 6.4 per cent year - over-year.