Equifax Canada says total consumer debt rose to $2.32 trillion in the second quarter, up 8.2% compared with the same quarter last year.
The report by the credit rating agency says increases in new lending and higher spending linked to inflation helped boost non-mortgage debt to $591.4 billion, up 5.2 per cent from a year ago.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Rebecca Oakes, vice-president of advanced analytics at Equifax Canada, says financial stress is becoming a very real thing for many more Canadians.
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