Average Canadian family debt reaches $96,000 in 2009, study finds

Published on February 16, 2010; Published on July 1, 2010
The Canadian Press ~ The News

Topics :: Vanier Institute of the Family

A new study on Canadian family finances says the average household debt climbed to $96,000 last year.
That puts the debt-to-income ratio at 145 per cent - the highest level ever recorded by the annual study, now in its 11th year.
The study conducted for the Vanier Institute of the Family also found there was a dramatic increase in late debt payments.
The number of mortgage payments that were at least 90 days late was up 50 per cent compared with 2008.
There was also a 40 per cent increase in the number of credit card holders who were at least three months behind in their payments.

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unknown

- July 2, 2010 at 14:50:25

I wish that was all that i owed

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MoreInfo

- July 2, 2010 at 14:49:44

From the report located here:

http://www.vifamily.ca/library/cft/famfin09.pdf

Approximately $60,000 of the $96,000 is mortgage debt.

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Sam

- July 2, 2010 at 14:39:09

Is that including mortgage debt I wonder???? Can't be....

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Linda

- July 2, 2010 at 14:38:31

$96,000 can't include your mortgage.. I guess i'm one of few who has never been late making a mortgage payment or visa bill payment. touch wood! Visa always paid off next payday.. If you can't pay off your visa in two pay days you owe too much.

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unknown

- July 1, 2010 at 21:33:09

I wish that was all that i owed

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MoreInfo

- July 1, 2010 at 21:32:00

From the report located here:

http://www.vifamily.ca/library/cft/famfin09.pdf

Approximately $60,000 of the $96,000 is mortgage debt.

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Sam

- July 1, 2010 at 21:14:16

Is that including mortgage debt I wonder???? Can't be....

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Linda

- July 1, 2010 at 21:13:21

$96,000 can't include your mortgage.. I guess i'm one of few who has never been late making a mortgage payment or visa bill payment. touch wood! Visa always paid off next payday.. If you can't pay off your visa in two pay days you owe too much.

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