Canadian Debt

About

Frightening StatisticsOn Debt In Canada

TRUTH

SHOCKINGThe

OptionsCredit.ca

OptionsCredit.ca

Don Antle A Dean's List graduate of the

University of Western Ontario.

Became VP of Marketing for Molson in their national marketing office in Toronto.

After leaving Molson in 1991 he founded the Promotional agency the Allegro Marketing Group.

Sold his equity in Allegro to his partner and moved to the Lower Mainland of British Columbia with his family.

He managed two small projects before beginning with NCC Financial the parent company of the private credit counseling firm National Credit Counselors of Canada (NCC) in 2003.

While at NCC Antle completely redesigned their business model and process increasing new client acquisition by over 60% and rationalizing the marketing, HR and management context of the business.

Before leaving Antle was acting President, his efforts in improving process and efficiency resulted in the first profitable years in the company's 11 year history.

Antle left NCC and CORE in 2009 to start Options Credit Services Canada which launched in 2010.

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Table Of Contents1. Every Dollar Spent

2. Canada Is In Trouble

3. Debt Reduction

4. Canadians Owe

5. Is There Hope

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1. Every Dollar Spent

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ExpensesVs.

Income

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SINCE

Oct. 15 2012

63%Of every Dollar is disposable

income in the average household!That means 37 cents of every dollar earned is in the form of DEBT!

The Globe And Mail

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Debt levels continue to rise because of the housing bust. This could result in a “double blow” as the global economy is in holding

Some economists fret about the similarities to United States, where excessive debt-income ratios were a prelude to a housing crash

More than half of major markets witnessed sales drop 10%

The average national price increased over 1% from last year

The ratio of debt to income marked at 163.4% half way through the year. That’s a raise of almost 2 points from the end of last year.

Canada’s RiseIN DEBT LEVELS

The Globe And Mail

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2. Canada Is In Trouble

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Canada IsNot Far Behind

The U.S.

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“ “SERIOUS ISSUES

We’ve Got Some

To Deal With In Canada

-Laurie Compbell-CEO of Credit Canada Debt Solutions

The Globe And Mail

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Canadians and Americans are very

Similar

After 1996, and every year after, both Canadians and Americans spent almost all income, leaving very little for savings.

While personal savings rates in Canada has consistently been higher than in the U.S., rates in both countries have been falling over 15%.

Both Canadians and Americans have had to finance their spending through credit.

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Canada AmericaHousehold Debt Household Debt

6.8x 8.6x

Statistics Canada

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3. Debt Reduction

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Debt Is TheNew Black

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1. Eat Healthy Food

2. Get A Better Education

3. Get A Better Job

4. Get Fit

5. Quit Smoking

6. Take A Trip

7. Volunteer To Help Others

8. Debt Reduction

2013 New Year’sResolutions

USA.gov

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The Top 8

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17%Of Canadians selected

DEBT REDUCTION

as their main priority in 2013, 2012, and 2011.

The Globe And Mail

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““In the last 12 months… nearly 34 million people, have been late making a credit card payment and over 18 million people have missed a payment entirely. (Source: National Foundation for Credit Counseling) “

“…More than 58 million adults, admit to not paying all of their bills on time.  (Source: National Foundation for Credit Counseling)

“When finances are tight, 59 percent of people would pay their credit card bills last!” 13

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4. Canadians Owe

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More Is OwedEvery Year

16Canadians Owe

TRILLON DOLLARS!!!

Metronews.ca

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“ “$103,000

As of March 2012

Is The Average Household Debt

In Canada!

Metronews.ca

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1 MillionCanadians

MORE THAN

Are spending 40% of their income on debt repayment.

-Rober Sauve-

“

“Excessive debt “is a problem for a whole bunch of people…”

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5. Is There Hope

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Debt Management Help For Canadians

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Do You Need Help?

Do your credit balances exceed your income

Is it hard to make the minimum monthly payment on your debts

Are you scared to know how much you owe in total

Are you using credit cards for daily expenses

Are you receiving creditor calls for not making bill payments

Are you using one credit card to pay off another

Why are creditors not increasing your credit limit

Have you applied for cash advances

1 Million OtherCanadians Do…

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1. The most common benefit from a debt management program is the consolidation of multiple monthly payments into one monthly payment, which is usually less than the sum of the individual payments themselves.

2. Credit Counseling also arranges a reduction in the interest rates charged by creditors through a DMP. Some creditors will lower the annual percentage rates or even eliminate interest altogether.

3. The third benefit offered by credit counseling agencies is restoring credit ratings. By bringing delinquent accounts current. After joining the DMP and making consecutive monthly payments, creditors could “re-age” the account to reflect a current status. This merely gives a fresh start and an opportunity for the client to begin building a positive credit history.

Canadians 100% AGREE

On Using DMP’sDebt Management Programs

Wikipedia.org

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