Several months ago, Magha purchased a new car at the cost of $30,000.00 using her Personal Line of Credit. She is now finding it difficult to make her monthly Line of Credit payments while keeping up with all her other payments. The main reason Magha is struggling with this is: 

Magha spent too much on the vehicle and should have considered a smaller, less expensive car. 

The payments on Magha's Line of Credit are higher than they would be on a fixed repayment loan which she should have obtained to buy the car. 

Magha's TDSR is too high, and she should consider consolidating her debt. 

The interest rate on the Line of credit products is often quite high