Canucks counting on disappearing debt: BMO survey
Posted Jun 6, 2012 6:59 am.
This article is more than 5 years old.
Canadians are confident the debt they have now won’t last.
According to a Bank of Montreal survey, 54 per cent of Canadians who owe money expect to pay it off within the next five years.
The survey finds the average household debt load in Canada, including mortgage, credit card, line of credit and loan debt, is just over $112,000.
In Alberta, it’s slightly higher at just over $144,000.
Men are apparently more likely to carry large amounts of debt, as well as those between 35 and 44.
According to the report, the average monthly debt payment is $1,100.
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