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

The Canadian Press ~ The News
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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.

Organizations: Vanier Institute of the Family

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  • unknown
    July 02, 2010 - 13:20

    I wish that was all that i owed

  • MoreInfo
    July 02, 2010 - 13:19

    From the report located here:

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

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

  • Sam
    July 02, 2010 - 13:09

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

  • Linda
    July 02, 2010 - 13:08

    $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.

  • unknown
    July 01, 2010 - 20:03

    I wish that was all that i owed

  • MoreInfo
    July 01, 2010 - 20:02

    From the report located here:

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

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

  • Sam
    July 01, 2010 - 19:44

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

  • Linda
    July 01, 2010 - 19:43

    $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.