Roadblock to Recovery: Consumer debt of low- and moderate-income Canadians in the time of COVID-19
Author:
Topic: Consumer protection, Credit & Debt
Publisher: Prosper Canada
Location: Canada
Format: Report
Content Type: Research
Publication Date: November 10, 2020
, , Topic: Consumer protection, Credit & Debt
Publisher: Prosper Canada
Location: Canada
Format: Report
Content Type: Research
Publication Date: November 10, 2020
Almost half of low-income households and 62 per cent of moderate-income households carry debt, with households on low incomes spending 31 per cent of their income on debt repayments, according to a new report published by national charity, Prosper Canada.
This report analyzes the distribution, amount and composition of non-mortgage debt held by low- and moderate-income Canadian households and explores implications for federal and provincial/territorial policy makers as they develop and implement COVID-19 economic recovery plans and fulfill their respective regulatory roles.
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