Almost eight in ten people in debt have physical or psychological problems. This was the first survey revealed flash conducted by the Coalition of Consumer Associations of Quebec (CACQ) on the impact of debt on Health, whose results were announced today.
According to the survey of consumer associations from 96 people, 77% of them said to feel discouraged, have constantly want to cry and want to leave everything because of their debt situation.
In addition, 73% of respondents said they had trouble sleeping because of their financial situation and 67% suffer isolation and seclusion.
"Several advisers consumer associations had noticed that the number of people who arrived discouraged, depressed or burn-out had increased in recent years," said Clemence Gagnon, spokesman for the campaign in the margin up neck and budget consultant for over 15 years in a consumer association. We wanted to verify this information. The investigation flash enabled us to conclude that more and more people are indebted weakened on the psychological and physical. "
Debt galloping
In Quebec, in 1990, an average consumer spends 110% of its disposable income. The debt ratio rose to 131% in 2007.
"The credit is made trite. It has become a solution to everything, said Ms. Gagnon. People have the impression that since the credit is very accessible, they no longer need to save. The credit has become their safety net. "
The savings rate has dropped in Quebec between 1990 and today, from 13% to 1%. Since 1990, debt increased seven times faster than revenues.
With this in mind, the CACQ asked the government to intervene to better regulate advertising on credit, especially for young people.
The CACQ proposes to prohibit solicitation on credit to young people under 18 years, including in schools, and prohibit credit solicitations custom made by mail, telephone and Internet.
"The debt cache of real social problems, said Ms. Gagnon. We believe that the state has a major role to play. "
The Office of Consumer Protection said it would review the issue of credit this winter, as part of the discussion related to the updating process of law.
According to the survey of consumer associations from 96 people, 77% of them said to feel discouraged, have constantly want to cry and want to leave everything because of their debt situation.
In addition, 73% of respondents said they had trouble sleeping because of their financial situation and 67% suffer isolation and seclusion.
"Several advisers consumer associations had noticed that the number of people who arrived discouraged, depressed or burn-out had increased in recent years," said Clemence Gagnon, spokesman for the campaign in the margin up neck and budget consultant for over 15 years in a consumer association. We wanted to verify this information. The investigation flash enabled us to conclude that more and more people are indebted weakened on the psychological and physical. "
Debt galloping
In Quebec, in 1990, an average consumer spends 110% of its disposable income. The debt ratio rose to 131% in 2007.
"The credit is made trite. It has become a solution to everything, said Ms. Gagnon. People have the impression that since the credit is very accessible, they no longer need to save. The credit has become their safety net. "
The savings rate has dropped in Quebec between 1990 and today, from 13% to 1%. Since 1990, debt increased seven times faster than revenues.
With this in mind, the CACQ asked the government to intervene to better regulate advertising on credit, especially for young people.
The CACQ proposes to prohibit solicitation on credit to young people under 18 years, including in schools, and prohibit credit solicitations custom made by mail, telephone and Internet.
"The debt cache of real social problems, said Ms. Gagnon. We believe that the state has a major role to play. "
The Office of Consumer Protection said it would review the issue of credit this winter, as part of the discussion related to the updating process of law.
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