1. Canadian Debt News Synergy debt group – Volume 2

2. CIBC's Deputy Chief economist Benjamin Tal, recently said, "That household credit growth has averaged an inflated 8.2% in the past decade, a trend that looks to be coming to an end. “When it comes to household credit growth, the past decade was the exception, not the norm," he said in his report.

3. With outstanding mortgages still rising 7% to 8% year-over-year, this expense remains the biggest burden for Canadians, contributing to household debt-to-income ratios continuing to climb to record highs of almost 150%. “ In fact, inflation-adjusted non-mortgage consumer credit is now rising at the slowest pace since the early 1990s," he said.

4. "At this rate of slowing, growth in non-mortgage consumer credit will enter negative territory in the second half of the year."

5. Many Canadians are ridding themselves of their consumer debt by using debt management programs such as those offered by Synergy Debt Management of Scarborough, Ontario.

6. Management programs such as these are tried and tested methods that allow consumers to apply their funds to the principal of their credit cards, and other unsecured debts, thus avoiding the Minimum Monthly Payment trap where funds are applied to skyrocketing interest rates.

7. Management programs such as these are tried and tested methods that allow consumers to apply their funds to the principal of their credit cards, and other unsecured debts, thus avoiding the Minimum Monthly Payment trap where funds are applied to skyrocketing interest rates.

8. These debt reduction programs result in less damage to the consumer's credit and actually improve their financial situation. Synergy Debt Management provides each customer a personalized one on one service that offers sound financial education to enable them to solve their financial problems quickly in both the short and long term.

9. SYNERGY DEBT GROUP WWW.SYNERGYDEBT.CA