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The analysis below shows the median level of debt for Canadians who possess outstanding financial obligation connected with a particular item.

The analysis below shows the median level of debt for Canadians who possess outstanding financial obligation connected with a particular item.

Kinds of financial obligation

The outcome through the 2019 CFCS suggest that nearly three quarters of Canadians (73 ) used some form of financial obligation within the last year (see additionally Statistics Canada, 2017) and nearly 1 / 3 (31 ) bepeve they will have too much financial obligation. As shown below, Canadians utilize a number of different credit products, including debts linked with their main residence, such as mortgages and HELOCs. Other typical forms of financial obligation include outstanding balances on bank cards (held by 29 of Canadians), automobile loans or leases (28 ), individual pnes of credit (20 ), figuratively speaking (11 ), and mortgages for a second residence, leasing home, company or holiday house (5 have actually a second home loan).Read More