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Peter Anthony
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Whether you are Buying or Selling Residential or Commercial Property in the Boundary Area, you'll be glad you contacted Logan Melville.

Logan is a highly educated and experienced REALTOR® providing excellent and friendly service selling real estate Grand Forks, Christina Lake and the Boundary Area!

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MONTREAL -- As many as three-quarters of Canadians recently polled say they are in debt and owe an average amount of nearly $16,000, according to a new survey.

The average personal debt load, which doesn't include a mortgage, jumped by $2,779 to $15,920 this year compared with last year, says RBC's annual debt poll released on Tuesday.

Kim Taylor, the director of personal lending at the Royal Bank of Canada (TSX:RY), said consumers may have increased their personal debt -- which includes credit cards, loans and personal lines of credit -- after putting off vacations or big ticket items in recent years.

Read more: http://www.ctvnews.ca/business/three-quarters-of-canadians-carrying-debt-owe-average-of-16k-survey-1.1517968#ixzz2k18gyLrU

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The average level of personal debt in Canada rose 21 per cent this year to $15,910, with Albertans hardest hit with a 63 per cent jump to $24,271 in debt, according to a survey done this August for Royal Bank of Canada.

The third annual RBC debt poll, only measures non-mortgage debt such as credit cards, lines of credit and loans. Canadian personal debt averaged $13,058 in 2011 and ticked up in 2012 to $13,141, but the increase to 2013 is much sharper.

RBC offered no explanation for the rising debt levels, but job growth in Canada is lagging and income levels are rising only modestly.
About 24 per cent of Canadians report being debt-free, down from 26 per cent in 2012.

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