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