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

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.

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

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?

Many people who file for bankruptcy get to stay in their home.
In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.
Many people who file for bankruptcy are able to keep their vehicle.
Most bankruptcies are NOT published in the newspaper.

Student loans can be included in a bankruptcy if they are more than seven (7) years old.
A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.
In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]