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Debt Consolidation and Debt Help for Vancouver Residents
Living with Debt in Vancouver
If you live in Vancouver you will be happy to hear that your province is known for having one of the most energetic economies in Canada. Vancouver is Canada’s gateway to the Pacific and the location of major ports, highways and rail routes.
The biggest industries in Vancouver are the trade, film, natural resources, technology and tourism industries.
Vancouver’s population exceeds 2.3 million making it almost as large as the City of Toronto and it has been ranked as one of Canada’s most livable cities over the past decade. With that said it is ranked as one of Canada’s least affordable cities to live in.
Since the last quarter of 2011, Vancouver has seen steady growth in its employment numbers with a surge having occurred in September 2011. This is welcome news for Vancouverians considering that the employment numbers in the first 3 quarters of 2011 were dismal. Employment growth in Vacouver in 2011 was .8% which was less than half of the rest of Canada. The unemployment rate in Vancouver is currently sitting at 7%.
With household debt in Canada exceeding 150% and with housing costs rising, Vancouver residents not unlike other Canadians must come up with solutions to deal with their debt. Economists have warned that Canada is still at risk of a housing bubble and with still high unemployment rates, Vancouver residents now more than ever should take a moment to get their “financial houses” in order.
Many families in Vancouver are struggling with debt. Often times a financial crisis can be precipitated by job loss, a failed business, divorce or disability, amongst other reasons. If you are struggling with debt your first choice may be to see what help is available. Debt consolidation and debt help is available to Vancouver residents, but it is important to research and understand who you are going to for help.
You may choose to deal with your debt different ways – through:
- a loan for debt consolidation from a Vancouver bank
- borrowing more money
- credit counselling
- consumer proposals
- bankruptcy
- debt settlements
- or a strong financial plan
Some of these choices could make your financial problem worse while other choices could turn your life in a more positive financial direction.
- We are not Bankruptcy Trustees – they represent your creditors.
- We are not like credit counselling agencies – they are largely funded by your Credit Card company’s donations.
- We are not a financial institution – we don’t put our clients in more debt.
Call DebtCare Canada today 1 (888) 890-0888.