Don't Wait to Deal With Debt
Laurie Campbell has seen first-hand the struggles Canadians go through with debt.
Currently serving as the executive director of Credit Canada, Campbell has made the fight against sky-rocketing debt her mission. A graduate of the University of Ottawa, Campbell has been with Credit Canada since 1990.
In this interview, Campbell tells us the number one reason for bankruptcy in Canada, and stresses that debt is something that must be faced - sooner rather than later.
To listen to the clip, click below:
Currently serving as the executive director of Credit Canada, Campbell has made the fight against sky-rocketing debt her mission. A graduate of the University of Ottawa, Campbell has been with Credit Canada since 1990.
In this interview, Campbell tells us the number one reason for bankruptcy in Canada, and stresses that debt is something that must be faced - sooner rather than later.
To listen to the clip, click below:
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Reader Comments (Page 1 of 1)
5-18-2011 @ 5:38PM
Mr White said...
How do the banks expect someone who is making 52000 a year
pay off 80000 in credit card debt?They see you are using your
card up to its limit,paying just a little over minimum payment,when you are 25000 in debt,what do they do?
Raise your limit!!!! duh they want you to go bankrupt.
then send you another card.It's not very smart on anybodys part
Greed is a sin.Money is the root of all evil.
We are in the worst recession in 80 years and it is only going to turn into another depression SCARY VERY VERY SCARY
Reply
5-18-2011 @ 4:14PM
Ellen said...
Hi Mr White,
The banks are in the business to sell debt, not to educate you on how to get out of debt. The less you know, the better for them. It is important for us to get the right information from the right people so we can make an informed decision and become debt free and financially indepedent.
Cheers, Ellen
5-18-2011 @ 5:38PM
Mr White said...
The banks are not in business to sell debt.they are in the business to make money,What business is not.But when they get greedy and a person gets so far in debt there is only one way out (bankruptcy) how are the banks making money then?
Do you not think it would be better to stop the problem before it gets to far out of hand,Say hay this person is is spending to much on credit lets talk to them help them and in the long run help themselvs.
This country and others suffer from bankruptcy .The more bankruptcies there are ,The higher the interest rates for everyone .
Same goes for insurance after 9 11 you me and every one who has insurance got a whopping increase 25%
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5-18-2011 @ 5:39PM
Mr White said...
This is something I found in a credit councling sight
This is very true then why is Managing money taught in school
Grad 10 or 11 COME ON WHAT IS WRONG WITH EVERY THING IN THIS WORLD ,,, THERE IS MORE BAD THAN GOOD IN EVERYTHING
Managing money is a skill that must be learned. It doesn't come naturally. Unfortunately most of us have never received any financial training. And the evidence of this is glaringly apparent.
Personal debt is rising exponentially and personal savings are decreasing. With alarming frequency individuals and families across Canada are finding themselves in financial distress
Reply
5-18-2011 @ 6:04PM
Linda said...
I believe the correct quote is the "LOVE" of money is the root of all evil.
Reply
5-18-2011 @ 8:16PM
Mr White said...
I think you r right thank you linda
5-19-2011 @ 3:32PM
Karyn Harper said...
I believe that the "Rich" & the Greedy(Banks/Gov.) put our Country in Debt. A Poor man does and cannot spend beyond their means, and know the value of a dollar. The Rich take risks, sometimes they win, most times they lose. Claim Bankruptcy and start over again. I know of so many people out there that were making HUGE money, spending it like it was water, and boom when reality hits, they can't manage on an "average" wage, as their short-lived wealth has run out. Then the Banks come along and refuse to give low rates on personal loans and force you to put your house up on lean, with Home Equity loans, as they are at a low rate. Then they encourage people to take that extra amount, as you will never know if you need it. "Don't have to use it, but just incase, it is there." People will live out their entire lives with their homes still being owned by the banks! This system makes me sick!!!!! The Banks lower the rates for a few years, until they have the majority of people out there with Home Equity Loans, and then threaten that the economy is improving and that interest rates will increase! Lock us in for 5 years,and then when it comes to re-new, hike the interest to 10, 15% or more, It happened in the 80s and it will happen again. Why? Because they can!!!! Enough Said!
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