Debt

The average Greater Victoria homeowner holds close to $500,000 in mortgage debt, according to credit education company Borrowell. (Black Press Media file photo)

Average Greater Victoria homeowner holds $500,000 in debt

Greater Victorians exceed national debt average

 

Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. Equifax says the debt profile of Canadians has changed throughout the pandemic, with mortgages accounting for a larger portion of people’s debt. THE CANADIAN PRESS/Ryan Remiorz

Consumer debt driven by new mortgages, but credit card debt at six-year low

Potential exists that first-time homebuyers are starting to get priced out of the market

 

Campbell River city council will continue its 2020 policy of waiving late fees and NSFs. (Mirror File photo)

53% of Canadians teetering the brink of insolvency: survey

A majority of Canadians admit they’re just $200 away from not being able to pay their monthly bills

 

Businesses are getting creative to keep cash flowing. (File photo)

Expect debt collections activity to pick up as economy reopens: experts

Credit Canada and Equifax both say there are already signs of increasing credit delinquencies

Businesses are getting creative to keep cash flowing. (File photo)

Seek help early if you are struggling with debt as deferrals end, experts say

Many don’t know where to look for help if they are struggling with debt

Canadians taking steps to avoid credit card debt, despite economic pressure

People are opting to dip into savings or retirement funds rather than relying on credit cards