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Why young people keep getting caught in debt traps and how to break the cycle – Winnipeg Free Press

Why young people keep getting caught in debt traps and how to break the cycle - Medicine Hat NewsMedicine Hat News

Why young people keep getting caught in debt traps and how to break the cycle - Medicine Hat NewsMedicine Hat News
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Coronavirus: Easily a decade before Canada s youth recover economically from pandemic, experts say

The ISC report stated that those Canadian populations were being “left behind” in the recovery process as they are “overrepresented in the retail and tourism sectors” which were among the most severely hit in the pandemic, decimated in lockdowns and stay-at-home orders nationwide. It’s an assessment that Scott Terrio, a consumer insolvency manager at Hoyes, Michalos & Associates Licensed Insolvency Trustees based in Ontario, agrees with. “I’ve been meeting with people for 10 months now whose jobs were just basically vaporized in March and…people in their twenties are in industries that have just been crushed…they ve probably paid a bigger price than almost any other demographic,” Terrio said in a telephone interview with CTVNews.ca Wednesday.

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