April 8, 2014

By Margaret H Johnson

The criticism is back. Yes, in the Vancouver Sun today, a personal finance article quotes Equifax as suggesting, “Consumers are reining in spending while experts say signs of indulgence remain evident.”

Now that is somewhat confusing. The unadjusted consumer credit (debt) figures excluding mortgages have consistently gone up like, forever. Since 1975 up from $20 billion to the present level of almost $520 billion as reported by the Bank of Canada in March 2014. Or, if you want something a bit more current, the outstanding consumer debt rose from $509 billion in January 2013 to the $520 billion level today. Statistically, this seems to contradict what Equifax has reported and agree with the other experts.

March 31, 2014

BY Margaret H Johnson

I’ve been waiting a long time for someone from the media to agree with my observations regarding a struggling middle class as opposed to some rosy picture that only a handful of bad money managers are having trouble.

March 25, 2014

BC Debt Pooler Loses Licence after Consumer Protection Investigation

March 25, 2014 Consumer Protection BC announced it has cancelled the licence of Options Credit Services Canada Ltd., owned by Don Antle, after an investigation revealed several breaches of the  Business Practices and Consumer Protection Act and the Debt Collection Industry Regulation.

March 25, 2014

By Margaret H Johnson

Consumer debt in Canada is $1.4 trillion? Yikes. That is what was reported today in the Canadian Press. Canadians owe $1.4 trillion.

The article then goes on to tell us that consumer debt, including mortgages, make up the $1.4 trillion. Guess what? When you mix mortgages with consumer debt you do not end up with consumer debt. The correct term is household debt.

March 18, 2014

By Margaret H Johnson

The old joke about the sure things in life used to refer to death and taxes. I think we need to add consumer debt to this list. Certainly if one considers the irrefutable fact that Canadians have borrowed more and more money each and every year – from $20 billion in the 1970s to the current outstanding consumer debt of $516 billion today. Debt is just as predictable as death and taxes.

Remember, if you are experiencing financial difficulties do not wait. Call Solutions Credit Counselling at 1(877)588-9491 or fill out our Debt Consolidation Questionnaire and get your Free Credit Counselling Advice today.

For more information visit Debt Canada - your Canadian credit education centre.

If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business financeMoney management advice you can count on!

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