Canadians missing fewer loan payments, paying off debts faster

Canadians are paying off their debts faster, with the number of those more than three months behind on loan payments dropping to a record low, according to a report Thursday from Equifax Canada.

The latest National Credits Trends study by the credit monitoring firm found that the percentage of unpaid non-mortgage debt past-due more than 90 days was 1.19 per cent in the fourth quarter of 2012, a slight decrease from 1.22 per cent in the third quarter.

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Property tax arrears rising in town

As Okotoks officials sit down to discuss details of the next year’s operating budget and property tax increases this week, it’s apparent it is becoming more difficult for some residents to keep up with their tax bills.

Provincial property tax sale information reveals the number of Okotoks properties advertised for auction because of tardy property tax payments has risen in the past five years, from two in 2008 to 22 this year.

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