493 – Credit Card Balances Lead Many to Bankruptcy: 2023 Joe Debtor Study

In this episode, Doug Hoyes and Ted Michalos discuss the annual Hoyes Michalos Joe Debtor Bankruptcy Study for 2023. They talk about why credit card debt is driving consumer insolvencies, challenges faced by homeowners, and why we are seeing an increase in insolvencies among higher-income individuals. For more information, you can access the detailed report at joedebtor.ca. Related Links: Hoyes Michalos Joe Debtor Bankruptcy Study: www.joedebtor.ca Office of the Superintendent of Bankruptcy – Canadian Consumer Debtor Profile – 2021: https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/statistics-and-research/canadian-consumer-debtor-profile-2021 Credit Card Debt is a Problem For A Lot of Canadians: https://www.hoyes.com/debt-relief/credit-card-debt/ 2023 Debt Statistics and What It Means for Consumer Insolvencies: https://www.hoyes.com/blog/2023-debt-statistics-and-what-it-means-for-consumer-insolvencies/ How Car Loans and Car Loan Rollovers Lead to Insolvency: https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/ Student Loans and the 7 Year Rule: https://www.hoyes.com/blog/are-your-student-loans-past-the-7-year-rule-a-vaughan-bankruptcy-story/ Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/