More Canadians Going Bust As Debt Keeps Piling Up: Equifax

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More Canadians Going Bust As Debt Keeps Piling Up: Equifax

Post  kelee877 on Wed Dec 07, 2016 2:28 pm

Equifax says the percentage of people who are 90 days or more behind paying their debt grew to 1.14 per cent from 1.05 per cent during the same year-over-year period.

It says the increase in delinquency was largely driven by oil-producing provinces in Western Canada and Newfoundland and Labrador, where default rates tend to be higher.

Total consumer debt, excluding mortgages, remains on the rise fuelled in part by low interest rates, it said.

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