Insolvent Canadians try holding the absolute most unsecured debt given that 2016 Based on a new study off Registered Insolvency Trustees Hoyes, Michalos & Lovers, the typical insolvent debtor due $fifty,484 within the personal debt in 2021, a rise off 3.3% out of 2020 plus the highest height due to the fact 2016. Those with student education loans had the common debt from $17,005, an increase regarding 11 “Income tax debts has actually returned given that a first loans driver regarding individual insolvencies,” said Licensed Insolvency Trustee, Doug Hoyes. “This really is even after a slowdown into the range craft because of the Canada Money Service such last 2 years.” Five from 10 insolvent debtors due taxes after they filed its tax statements from inside the ...