Once a year we crunch the numbers and release our annual Hoyes Michalos Joe Debtor Bankruptcy Study. It's the only study that exists that looks at real numbers from actual people (it's a study, not a survey) so every year it generates a lot of media attention. Today's podcast is the only interview Ted and I do together on Joe Debtor, and we explain the four key trends we identified this year:

Income are up (but not because our clients are getting big pay increases).

Expenses are also up, so there is less cash available to pay debt.

As a result the credit profile of our clients is deteriorating, leading to more payday loans and high interest instalment loans.

The student loan crises is leading to more younger people going bankrupt or filing a consumer proposal.

Full explanations and more on today's show.

Full details with all of the charts can be found here: https://www.hoyes.com/press/joe-debtor/