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Article content And with the end of the pandemic in sight sort of what will happen next? We apologize, but this video has failed to load. Try refreshing your browser, or As economy recovers, insolvencies will surely rise Back to video According to Statistics Canada, things were not ideal even before COVID, with 30% of Canadians believing they were over-indebted in 2019. Then came the pandemic. Insolvency filings went up at the beginning of the year, but 2020 finished with record lows, despite lockdowns and layoffs. Debt was deferred. Going into the pandemic, Canada’s debt-to-income ratio was 180.4%. The average consumer owed almost $30,000 in non-mortgage debt. ....