Many paying nearly one-third of earnings on debt repayment

27 December 2020

Toronto Sun// With COVID-19 wreaking economic havoc, half of Canada’s low-income households are spending 31% of their income on debt repayments, a charity study says. Prosper Canada also says 62% of moderate-income households are struggling financially.

The group’s report, Roadblock to Recovery: Consumer debt of low and moderate-income Canadians in the time of COVID-19,looked at non-mortgage debt.

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