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Skyrocketing number of people in Ontario are defaulting on housing and other bills

Ontario is once again leading the charge for consumer debt in Canada, with a growing number of residents failing to pay off their mortgages, credit cards and other bills. And the problem is, as you might have expected, worst in and around the exorbitant hub of Toronto.A new report from Equifax Canada shows that the number of people in the province who have defaulted on their required monthly credit payments for 90 days or more has shot up by 29.8 basis points during the last few months (compared to the same time last year), which is 15.2 points higher than the national average.In the GTA specifically, meanwhile, this figure surged by a whopping 39.1 basis points — something the firm attributes to the region being among those "most heavily impacted by high cost of living, economic uncertainty, and exposure to the auto and steel sectors."Equifax CanadaAs it stands now, the average person in...


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