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Canadian insolvency volumes highest since 2009

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A close-up of a person's hand holding a fan of several credit and debit cards, including multiple Visa cards in various colors like black, blue, and teal. Cash is visible in the background behind the cards.

Equifax Canada released a new report that shows insolvency volumes are up 18.8% from this time last year, their highest level since 2009, escalating the financial strain homeowners are already facing.