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Debt Burdens Are Eating Up a Growing Share of Canadian Incomes

Paying the Piper

Canadians are using a bigger chunk of their paychecks to meet debt obligations.

The household debt service ratio -- a measure of the share of income that goes toward paying interest and principal on mortgage, credit card and other types of debt -- reached 14.2 percent in the second quarter, the highest level since the end of 2008.