Canadian Consumer Debt: at an All-Time High April 12, 2021 10:38 pm Published by colleen Leave your thoughts Despite Canadian Insolvencies hitting a 20 year low, Canadian consumer debt hit an all time high, reaching a total of $2 trillion in November of 2020. On average, Canadians owe $1.71 for every $1 they own, according to Equifax. Additionally, according to a recent survey, 53% of Canadians are within $200 of financial dire straits and possible insolvency. Which is, in itself, at a 5 year high. The Covid-19 pandemic has put many people’s financial situation at risk. Personal Bankruptcies or Consumer Proposals may be a solution. See also: Canadian Insolvencies Have Hit a 20-year Low Recent Posts My Business is Insolvent – What Should I do? Higher Rents in BC: What to do to Survive Saving for a Down Payment in Victoria Free Yourself from Financial Debts Canadian Consumer Debt: at an All-Time High