According to a new study out of Signed up Insolvency Trustees Hoyes, Michalos & Couples, the common insolvent borrower owed $fifty,484 in consumer debt from inside the 2021, a growth from step three.3% off 2020 and highest peak given that 2016.
People who have figuratively speaking had an average loans regarding $17,005, an increase out of eleven
“Income tax expense enjoys came back since the an initial personal debt driver off user insolvencies,” said Subscribed Insolvency Trustee, Doug Hoyes. “It is even after a lag during the collection craft of the Canada Money Agencies this type of history 2 years.”
Four from 10 insolvent debtors due taxes once they filed their tax returns in the 2021.The typical income tax debtor due $19,776 inside taxation and you can notice a year ago, right up out-of $15,866 the entire year before. Individual tax, HST, origin write-offs, and [...]
