Shocking truth ebook-2013


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Shocking truth ebook-2013

  1. 1. The SHOCKING TRUTH About Canadian DebtFrightening StatisticsOn Debt In Canada
  2. 2. Don Antle v  A Deans List graduate of the University of Western Ontario. v  Became VP of Marketing for Molson in their national marketing office in Toronto. v  After leaving Molson in 1991 he founded the Promotional agency the Allegro Marketing Group. v  Sold his equity in Allegro to his partner and moved to the Lower Mainland of British Columbia with his family. v  He managed two small projects before beginning with NCC Financial the parent company of the private credit counseling firm National Credit Counselors of Canada (NCC) in 2003. v  While at NCC Antle completely redesigned their business model and process increasing new client acquisition by over 60% and rationalizing the marketing, HR and management context of the business. v  Before leaving Antle was acting President, his efforts in improving process and efficiency resulted in the first profitable years in the companys 11 year history. v  Antle left NCC and CORE in 2009 to start Options Credit Services Canada which launched in 2
  3. 3. ¡ 1. Every Dollar Spent¡ 2. Canada Is In Trouble¡ 3. Debt Reduction¡ 4. Canadians Owe¡ 5. Is There 3
  4. 4. 1. Every Dollar 4
  5. 5. SINCE 63% Of every Dollar is disposable income in the average household! That means 37 cents of every dollar earned is in the form of DEBT! 5 The Globe And Mail
  6. 6. IN DEBT LEVELS ¡  More than half of major ¡  Debt levels continue to markets witnessed sales rise because of the drop 10% housing bust. This could result in a ¡  The average national “double blow” as the price increased over global economy is in 1% from last year holding ¡  The ratio of debt to ¡  Some economists fret income marked at about the similarities to 163.4% half way United States, where through the year. excessive debt-income That’s a raise of almost ratios were a prelude 2 points from the end to a housing crash of last 6 The Globe And Mail
  7. 7. 2. Canada Is In 7
  8. 8. We’ve Got SomeSERIOUS ISSUES To Deal With In Canada -Laurie Compbell- CEO of Credit Canada Debt 8 The Globe And Mail
  9. 9. Canadians and Americans are very Similar ¡  After 1996, and every year after, both Canadians and Americans spent almost all income, leaving very little for savings. ¡  While personal savings rates in Canada has consistently been higher than in the U.S., rates in both countries have been falling over 15%. ¡  Both Canadians and Americans have had to finance their spending through credit. Household Debt Household Debt 6.8x 9 Statistics Canada
  10. 10. 3. Debt 10
  11. 11. The Top 8 2013 New Year’s Resolutions 1.  Eat Healthy Food 2.  Get A Better Education 3.  Get A Better Job 4.  Get Fit 5.  Quit Smoking 6.  Take A Trip 7.  Volunteer To Help 11
  12. 12. 17% Of Canadians selected as their main priority in 2013, 2012, and 12 The Globe And Mail
  13. 13. In the last 12 months… nearly 34 million people, have been late making a credit card payment and over 18 million people have missed a payment entirely. (Source: National Foundation for Credit Counseling) …More than 58 million adults, admit to not paying all of their bills on time.   (Source: National Foundation for Credit Counseling) “When finances are tight, 59 percent of people would pay their credit card bills last!” 13
  14. 14. 4. Canadians 14
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  16. 16. As of March 2012 $103,000 Is The Average Household 16
  17. 17. MORE THAN1 Million Are spending 40% of their income on debt repayment. Excessive debt “is a problem for a whole bunch of people…” -Rober 17
  18. 18. 5. Is There 18
  19. 19. Do You Need Help? 1 Million Other Canadians Do… ¡  Do your credit balances exceed your income ¡  Is it hard to make the minimum monthly payment on your debts ¡  Are you scared to know how much you owe in total ¡  Are you using credit cards for daily expenses ¡  Are you receiving creditor calls for not making bill payments ¡  Are you using one credit card to pay off another ¡  Why are creditors not increasing your credit limit ¡  Have you applied for cash 19
  20. 20. Canadians 100% AGREE On Using DMP’s ¡  1. The most common benefit from a debt management program is the consolidation of multiple monthly payments into one monthly payment, which is usually less than the sum of the individual payments themselves. ¡  2. Credit Counseling also arranges a reduction in the interest rates charged by creditors through a DMP. Some creditors will lower the annual percentage rates or even eliminate interest altogether. ¡  3. The third benefit offered by credit counseling agencies is restoring credit ratings. By bringing delinquent accounts current. After joining the DMP and making consecutive monthly payments, creditors could “re-age” the account to reflect a current status. This merely gives a fresh start and an opportunity for the client to begin building a positive credit 20
  21. 21. About Debt Help CALL NOW Call Now! Before you get distracted, start getting out of debt today. Call Now! Before the creditors start calling. Call Now! We can HELP! 21