Sunday, August 7, 2022
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50% of Canadians $200 away from insolvency and affording monthly bills

The number has grown by 4% since January 2019, when 46% of Canadians reported being $200 away from insolvency.

The latest survey on debt levels in Canada found that half of Canadians are $200 away from insolvency and not being able to pay their monthly bills. 

According to the MNP Consumer Debt Index, 50% of survey respondents claimed they were on the brink of bankruptcy, while 49% were not confident in their ability to cover expenses without accumulating more debt. 

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