Loans Canada CEO Scott Satov on the Marc and Mandy Show

Loans Canada CEO Scott Satov on the Marc and Mandy Show

Written by Maidina Kadeer
Fact-checked by Caitlin Wood
Last Updated April 13, 2022

Loans Canada CEO Scott Satov joins in on the Marc and Mandy show to discuss the record level of Canadian consumer debt, currently standing at $2.5 trillion. Calling it the “Perfect Storm”, watch as Scott explains how the rise in inflation coupled with high home prices and lack of financial literacy leads consumers to risky financial decisions. To learn more, check out the video below.

Main Points of Discussion

  • Canadians are holding $2.5 trillion in debt.
  • Caused by high inflation and the higher cost of goods catching Canadian consumers off guard.
  • Canadians struggling with their finances are accessing their home equity by refinancing to meet their financial needs.
  • Coupled with low-interest rates and high prices of homes creates the perfect storm for revolving debt. 
  • The solution starts with solid financial knowledge and better budgeting of personal finances.

The Marc & Mandy Show on Citytv follows a married duo as they discuss home décor, food, entertainment, celebrities, and lifestyle interests.

Rating of 5/5 based on 3 votes.

Mai Kadeer is a graduate of Concordia University, with a BA in English Literature, with a minor in Law and Society. Mai was a student strategist on the Concordia University Senate (2016), through the Academic Planning and Priorities committee. She has a background in financial budgeting as a board member for non-profit organizations, such as the Quebec Public Interest Research Group and the Concordia Food Coalition. For the past five years, Maidina has worked as a content specialist. Mai is passionate about helping Canadian consumers with financial management and literacy so they can make informed decisions regarding their personal finance.

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