How deep in the hole?

[vc_row font_family=”Quattrocento” css=”.vc_custom_1452861882357{margin-top: 50px !important;padding-right: 20% !important;padding-left: 20% !important;}” font_size=”18px” responsive_font_size=”true”][vc_column][vc_column_text font_color=”#000000″]Canadians carry approximately $80,000,000,000 of credit card debt in total. Canadians make about 3 billion transactions per year on their credit cards, about 5,700 transactions per minute. (Reference: https://www.greedyrates.ca/blog/10-canadian-credit-card-facts). The debt hole becomes deep and there are companies that cater to this here in Toronto, Ontario Canada. There are roughly 200 Money Marts and cash loan businesses when in fact, 30 years ago there was barely a handful of them. There are also many pawn shops where people that are maxed out bring in their gold and valuables under duress to try and get money to pay off their debts. They get taken advantage of because they are emotional about their poor financial situations and the pawn shop owner takes full advantage of these situations. Some of these money and pawn shops have bullet proof glass because their clients are more erratic than basic bank branches because their clients are more emotional and desperate. High debts have a spillover effect and results in drug use, alcoholism, depression and misery.  In extreme cases, the person is in such distress that they might commit suicide.[/vc_column_text][/vc_column][/vc_row]