The Canadian PressDecember 19, 2013 10:46
TORONTO - Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year.
In its first such annual forecast, TransUnion predicts the average consumer's total non-mortgage debt will hit an all-time high of $28,853 by the end of 2014.
That would be about $1,100 more than the $27,743 of debt consumers are expected to have at the end of this year.
TransUnion says car loans are expected to drive the increase in such debt, which also includes credit card debt, lines of credit, student loans and the like.