09-19-2007, 03:54 AM
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#1
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Not a casual user
Join Date: Mar 2006
Location: A simple man leading a complicated life....
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Drowning in a sea of red
The median debt load for families rose 38% from $32,300 in 1999 to $44,500 in 2005 and lines of credit more than doubled -- to 9% of total debt --during the same period.
Experts said skyrocketing consumer debt is fuelled by social acceptance of credit.
"I think people are more comfortable with debt in some ways," said Elena Jara, a spokeswoman for the Toronto-based Credit Canada. "When we actually pay for things in cash, we're more conscious of what we're spending."
Jara said Credit Canada served 55,000 clients in 2006, up from 50,000 in 2005. The average 2006 client had a debt load of $17,000 and four credit cards.
http://calsun.canoe.ca/News/National...05202-sun.html
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