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More than 60 per cent of Canadian households carry debt

20 November 2020 A recent report from Prosper Canada found 62 per cent of moderate-income households have debt, and low-income households spend approximately 31 per cent of their income on debt repayments.
Based on the findings, the most common forms of debt for low- and moderate-income households are credit card and installment loans. Additionally, most indebted households hold consumer debt, such as: credit card and installment debt, auto loans and student loans.