Infographic: Canada’s households now owe a record $1.8-trillion - Bankruptcy and Credit Counselling St. John's | S.R Stack Skip to content

Infographic: Canada’s households now owe a record $1.8-trillion

The Globe and Mail
In case you’re wondering just how much $1.8 trillion in household debt really is…this article points out that spending $1-million every day, it would take you 2,740 years to spend $1-trillion.

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Here is a great infographic from The Globe and Mail providing amazing facts about our record levels of household debt.

In case you’re wondering just how much $1.8 trillion really is…this article points out that spending $1-million every day, it would take you 2,740 years to spend $1-trillion.

CLICK HERE FOR THE GLOBE AND MAIL INFOGRAPHIC AND MORE AMAZING FACTS

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Did You Know?

1

Many people who file for bankruptcy get to stay in their home.

2

In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.

3

Many people who file for bankruptcy are able to keep their vehicle.

4

Most bankruptcies are NOT published in the newspaper.

5

Student loans can be included in a bankruptcy if they are more than seven (7) years old.

6

A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.

7

In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]