Falling Deeper Into Debt: Americans Open Credit Card Accounts At Record Numbers
With inflation soaring to 40-year highs, Americans are finding it difficult to make ends meet. As a result, many are
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Consumer Debt
Equifax: Mortgage Borrowing Sends Canadian Consumer Debt to $2.1 Trillion
Consumer debt loads have risen dramatically over the past quarter despite declining credit card use, as Canadian households allocate more
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Canadians Prefer to Save Rather Than Spend Government Aid Amid Growing Economic Uncertainty
Despite the federal government’s bottomless stimulus spending, it appears that Canadians are opting to hold onto their newly elevated savings
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Canadian Households Focusing on Retaining Savings and Paying Off Debt, Not Consumption
It appears that an increasing number of Canadians have been focusing on either paying off debt or increasing their savings
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US Credit Card Debt Falls 9% Despite Poor Economic Conditions
What has lead to the largest economic contraction since the Second World War, the coronavirus pandemic has made the year
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Canadian Consumer Debt Surpasses $2 Trillion as Demand for New Credit Escalates Despite Covid-19 Concerns
As a result of Canada’s housing market continuing to make strong gains despite less than ideal economic conditions, as well
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US Consumers Delve Into Savings to Keep up With Spending Habits as Incomes Tumble in October
As numerous stimulus programs that were part of the CARES Act ended over the summer, with the remainder set to
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US Consumers Suddenly Begin Paying Down Credit Card Debt as Financial Uncertainty Grows
Just when the US government thought that consumer debt was levelling out and beginning to approach pre-pandemic levels, an unexpected
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Strong Housing Market Recovery Causes Consumer Debt to Rise in Q2
As the coronavirus pandemic continues to put financial pressure on Canadians, the latest data released by Equifax suggests that the
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Canadian Consumer Debt Loads Decreased For First Time in 10 years
As strict stay-at-home orders were imposed and non-essential businesses were forced to temporarily close, many Canadians began to significantly reduce
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