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More Canadian families are highly indebted, Statscan finds

The Globe and Mail
With Statistics Canada reporting that the 12% of households (1 in 8 households) with the highest debt-to-income ratio are carrying 40% of overall household debt now is the time to take my 60-Second Financial Check-up.

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Here is a link to The Globe and Mail article about the recent statistics from Statistics Canada on household debt.

The 12% of households (1 in 8 households) with the highest debt-to-income ratio are carrying 40% of overall household debt.

DIAGNOSE YOUR DEBT WITH MY 60-SECOND FINANCIAL CHECK-UP

And click here for more of the details from Statistics Canada.

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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]