It’s small comfort, but we in the U.S. are not alone in the credit card bubble.
ConsumerAffairs.com offers, “Canadians Crushed By Credit Card Debt: Loonie soars but so does unsecured debt”, an article from November 15, 2007 that begins, “the U.S. isn’t the only nation buried by massive consumer debt.”
Highlights about Canadian consumer debt:
90% of surveyed Canadians had more debt than five years ago
28% had no idea of what their credit card interest rate was
25% had between $10,000 and $40,000 (excluding mortgages)
53% had no budget
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