The numbers tell a story of deferred pressure. Consumer insolvency filings in Ontario were essentially flat in 2025, but our latest Joe Debtor study shows debt is still rising as Canadians layer on borrowing across more accounts, cards, and lenders.

Doug Hoyes and Ted Michalos look at how these numbers point to a structural shift in the Canadian economy, how "death by a thousand minimum payments" keeps people treading water, and what today's data suggests about the pressure building for the year ahead.

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1:05 – What is the Joe Debtor study?
3:20 - Debt layering explained: more accounts, bigger balances, record unsecured debt
7:10 - Credit cards, number of creditors, and the payday loan trap
10:45 - Structural pressure vs temporary problems
14:05 - Pressure #1: food inflation
16:40 – Pressure #2: job unemployment and income instability
19:10 - Pressure #3: high debt, housing, and homeowners showing up in insolvency
21:55 - Why insolvencies haven't surged (yet)
24:30 - Bankruptcies vs consumer proposals – a shift is happening
26:40 - 2026 outlook and practical advice


Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.