CTV News Channel
Consumers are continuing to pile on debt despite economic uncertainty created by the sharp drop in oil prices.
Credit monitoring agency Equifax says Canadians racked up more debt in the latest quarter, driven by mortgages and higher instalment loans.
More than 35 per cent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
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 credit monitoring agency TransUnion.
The love affair Canadians have with debt is still going strong, according to a new report by credit monitoring agency Equifax Canada.
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 this year.
Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year.
A new study shows that non-mortgage debt is continuing to rise in Canada, but at a relatively modest pace, and that low delinquency rates indicate Canadians have so far been able to handle the increase.
As many as three-quarters of Canadians recently polled say they are in debt and owe an average amount of nearly $16,000, according to a new survey.
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.
New data on consumer credit suggests Canadians are becoming more cautious about making purchases that involve taking on debt.