Whether you’re drowning in debt or simply kind of maintaining afloat, you must know that you’re not alone. Today, the typical household that is canadian stays near record high levels, and studies show that nearly 1 / 2 of Canadian employees you live paycheque to paycheque. Studies also reveal that a huge percentage of the typical Canadian’s home earnings is going towards financial obligation payment, while a great percentage of that is going towards interest costs alone.

And that is not all the. Two-in-ten Canadians state they shall want to liquidate assets to repay financial obligation, and almost two-thirds anticipate dealing with brand new types of debt. You can observe more alarming stats within our Household Debt Survey, or keep reading for more information on handling the debt, including Credit Canada’s debt assistance services.