Debt repayments make up more than 30% of lower-income households' spending

MortgageBrokerNews.ca // As much as half of Canada’s lower-earning households are spending around 31% of their incomes on debt repayments, according to a new survey by charity group Prosper Canada.

In its recently released report, Prosper Canada also said that the debt-repayment ratio among moderate-income households is at an average of 18%, although it warned that “as this average is for all households in these income levels, the rate among indebted low- and moderate-income households is likely substantially higher.”