A quarter of Canadians are in ‘debt denial’

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Twenty-two percent of Canadians wrongly believe that their debt level is ‘average’ and 27.5 per cent are wrong in how they perceive debt. A poll by RateSupermarket asked 6000 people about their use of credit cards and found that in those who have a balance of at least $8,000 almost half consider that to be ‘average’; in fact the national average is $2,627. On a positive note 35 per cent of respondents thought they had more debt than they do and the percentage of Canadians with no credit card debt increased to 18.4 per cent, up 5.3 per cent from a similar survey in 2012. 
 
  • Kelly Kozar on 2015-03-03 10:09:17 AM

    Typical reporting. Why not lead with the positive note?

  • Neil on 2015-03-06 11:03:31 AM

    Americans really aren't any better with their debt denial.

    Look at this post about American Debt:

    http://www.creditmarvel.com/blog/americans-still-carrying-enormous-credit-card-debt-in-2015/

    The average CREDIT CARD debt for Americans is $15k. This doesn't include mortgage, school, or medical debt.

    In my opinion, the United States is headed towards another economic disaster.

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