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Average personal debt at nearly $16,000: poll

A new study shows that non-mortgage debt is continuing to rise in Canada, but at a relatively modest pace, and that low delinquency rates indicate Canadians have so far been able to handle the increase.
A new study shows that non-mortgage debt is continuing to rise in Canada, but at a relatively modest pace, and that low delinquency rates indicate Canadians have so far been able to handle the increase. AP file photo

TORONTO – A new survey suggests as many as three-quarters of Canadians are in debt and they owe an average of nearly $16,000.

RBC’s annual debt poll shows the average personal debt load jumped almost $2,800  to $15,920  this year compared with last year.

The figures do not include a mortgage.

Read more: Canadians are richer than ever — and awash in debt

Albertans saw the biggest jump in personal debt, with the average owed coming in at more than $24,000 — up from $14 ,881 in 2012.

Quebecers surveyed saw the smallest rise in personal debt this year — up only $287 to $10,458.

The survey found that 24 per cent of Canadians surveyed indicated they were debt-free, down from 26 per cent in 2012.

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The online poll of just over 2,100 people was conducted by Ipsos Reid between August 22nd and 27th.

Online surveys are not assigned a margin of error because they do not randomly sample the population.

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