Has inflation increased your debt?

Inflation is now forcing some Canadians to find different ways to afford day-to-day expenses.

Inflation is now forcing some Canadians to find different ways to afford day-to-day expenses.

The amount of credit card debt among Canadians has tripled in the last two years - per Stats Canada.

Economists say lower-income Canadians are turning to credit cards with high-interest rates to pay for the necessities and now, those people need help.

Joel Grisé is a Licensed Insolvency Trustee at Fontaine and Associates in North Bay.

He told CTV News the need for his services is skyrocketing.

“The phone stopped ringing in March of 2020 and didn’t pick up until, I’m going to say January that’s just come by,” Grisé said.

“Right now I’m having a hard time keeping up with phone calls.”