A study published in 2001 by Statistics Canada, entitled The Assets and Debts of Canadians, found that 38 per cent of Canadians carry credit card debt, owing an average of $3,000 to credit card companies

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According to the study, about a fifth of Canadians owed an average of $22,300 for their vehicles. Some 16 per cent of Canadians owed an average of $13,500 on lines of credit.

Full text: Managing your debt with a line of credit