63 - Canada’s Economy and Household Debt: How Much Is Too Much Debt?
Play • 17 min

Low interest rates and the promise of riches from rising home prices could be linked to Canadians ever increasing debt load. The latest figures from StatsCan revealed that Canadians owe $1.83 in consumer debt for every dollar of income they have. So, how well are you managing your debt? How much is too much? Licensed Insolvency Trustee, Leigh Taylor, discusses household debt. He talks about debt-to-income ratios and the danger signals that you should watch for.

Along with those important topics, Leigh also covers:

  • The cost of servicing the debt you carry
  • How government subsidies caused the inflation rate increase
  • Available options when you can’t make your debt payments
  • How to bring down your debt ratio
  • When to seek professional help

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. You can be assured of receiving unbiased advice and they will help you formulate a plan to get out of debt, once and for all. 

About Leigh Taylor

Leigh began his career as an Official Receiver with the Office of the Superintendent of Bankruptcy. He is a Certified Professional Accountant and attained his license as a  Licensed Insolvency Trustee in 1980. 

LCTaylor’s mission is to help people get out of debt through compassionate care and professional service. With over 40 years experience in the insolvency field, Leigh and his staff have helped over 50,000 Manitobans solve their debt problems. 

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