Debt Documentary: Women and Bankruptcy
Debt Documentary: Women and Bankruptcy - It is a sad truth that the one area where we seem to have rising gender equality is in the share of bankruptcy filings in Canada. In 2012, 42% of insolvencies involved women. By 2018 this percentage increased to 49%.
It also takes much less debt to drive women into bankruptcy. The average woman filing insolvency owes 21% less than her male counterpart when she files a bankruptcy or consumer proposal.
Why are we seeing a rise in women filing insolvency?
The answer is women have a higher risk profile than men that causes them to rely on debt because of things like stepping off the wealth escalator, in some cases causing income disparity. Women debtors are also more likely to be divorced, be single parents, be widowed seniors, or carry student debt. And when they carry debt, these same issues make it harder for women to dig themselves out of debt problems. Here is their story.
Study at: https://www.hoyes.com/press/joe-debtor/women-and-bankruptcy/