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Equifax Canada says complete client debt rose to $2.32 trillion within the second quarter, up 8.2 per cent in contrast with the identical quarter final yr.

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The report by the credit standing company says will increase in new lending and better spending linked to inflation helped increase non-mortgage debt to $591.4 billion, up 5.2 per cent from a yr in the past.

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It says common non-mortgage debt per client was $21,128, up 2.4 per cent in contrast with a yr earlier.

Rebecca Oakes, vice-president of superior analytics at Equifax Canada, says monetary stress is changing into a really actual factor for a lot of extra Canadians.

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Oakes says the influence on client credit score is not only seen in day-to-day bank card spending, but in addition in different non-mortgage debt like auto loans and features of credit score, the place balances are on the rise.

Equifax says bank card balances rose to the very best degree because the fourth quarter of 2019.