Millennials Dominate Insolvencies as Credit Card, Student Loan, CERB Tax Debts Add Up

Millennials Dominate Insolvencies as Credit Card, Student Loan, CERB Tax Debts Add Up
More than 100,000 Canadians of all ages filed for bankruptcy or insolvency in 2022. The Canadian Press
The Canadian Press
Updated:

Insolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater.

For more than a decade, his Ontario−based firm Hoyes Michalos has been crunching bankruptcy and insolvency numbers for its annual “Joe Debtor” analysis, with its latest results released last month ahead of tax season.