INSIDE THE VILLAGE: Why so many Canadians are going bankrupt

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This week's podcast: Millennials account for nearly half of insolvencies, thanks to soaring credit card debt, CERB payments — and predatory lenders charging nearly 400 per cent interest

Welcome back to Inside the Village, a one-of-a-kind podcast where all news is local — and no topic is off-limits.

An annual study known as the "Joe Debtor" report found that roughly 100,000 Canadians, including nearly 35,000 Ontarians, filed a bankruptcy or consumer proposal in 2022. Of those, almost half were millennials who owed an average of $47,283 in unsecured debt.

 

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