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September 25, 2018 | Canadians Struggling with Record Debt and Rising Rates

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

If Canadians had practiced prudent debt-avoidance guidelines the past decade (and been counseled by banks and other financial advis0rs to do so)  they would be better drown-proofed and resilient coming into the rising rate, economic downturn part of this cycle. Unfortunately, many did the opposite, and so are learning hard lessons once more. Next, the coming job loss wave will hit the undersaved and indebted like a tsunami.

Scott Terrio, manager of the consumer insolvency at Hoyes, Michalos & Associates, joins BNN Bloomberg to discuss debt traps in a rising rate environment. Here is a direct video link.

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September 25th, 2018

Posted In: Juggling Dynamite

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