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Canada’s Debt Crisis Hits New High | Toronto News
Canada’s insolvency crisis is hitting record highs, with nearly 37,500 filings in Q2—almost 17 every hour—reflecting mounting financial pressure as rising costs and stubborn debt overwhelm households. Even with interest rates stabilizing, the burden remains, forcing people into debt juggling acts that delay—not solve—problems. Prince Edward Island saw the steepest year-over-year spike, while Newfoundland and Labrador leads in insolvency rates per capita. Businesses, too, are feeling strain, especially in hospitality, food services, and manufacturing, as costs climb and demand remains uneven…
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