It’s a good idea to look at stats for insolvent debtors as well as people who haven’t yet declared bankruptcy. To that end, there are some similarities between those types of customers from research by a Canadian insolvency trustee firm.
More taxes and student loan debt means that insolvent debtors owe an average of $50,400 per person in unsecured debt. This is the highest level since 2016, mirroring the high levels of debt that all Canadians are in right now.
