1. Canadian Debt News Synergy debt group – Volume 3

2. The Deputy Chief economist of CIBC, Benjamin Tal, recently said, “Lines of credit are rising by almost 6% annually, now the slowest pace on record.

3. Direct loans, on the other hand, are growing about 1.5% a month, which is unsustainable, Mr. Tal said. Mortgage arrears, at about double the rates seen prior to the recession, appear to have peaked.

4. Canadians are also spending a greater proportion of their income on interest payments at 7.6%, the highest rate since 2008.".

5. Many Canadians are discovering financial independence from consumer debt by utilizing debt management programs such as those offered by Synergy Debt Management of Scarborough, Ontario.

6. These management programs 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. 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.

8. SYNERGY DEBT GROUP WWW.SYNERGYDEBT.CA