Debt Statistics · Updated October 2026
US & Canada Debt Statistics 2026: Latest Official Data
Household debt, credit card balances, delinquency and bankruptcy figures for both countries — taken straight from the Federal Reserve, the U.S. Courts and Statistics Canada, with a plain-English explanation of what they mean for your budget.
Key Numbers at a Glance
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| Indicator | United States | Canada |
|---|---|---|
| Total household debt | $18.8 trillion (Q2 2026) | C$3,280.9 billion in credit market debt (Q2 2026, seasonally adjusted) |
| Mortgage share | $13.1 trillion in mortgages (about 70%) | Residential mortgages almost three-quarters of household debt |
| Debt relative to income | See note below | 176.4% of disposable income (down from 178.6%) |
| Debt service ratio | See note below | 14.52% of disposable income goes to principal and interest |
| Bankruptcy / insolvency | 581,570 non-business bankruptcies (12 months to June 30, 2026) | 140,457 consumer insolvencies (calendar 2025) |
Source: Federal Reserve Bank of New York — Household Debt and Credit, Q2 2026; Statistics Canada — National balance sheet and financial flow accounts, Q2 2026 (Sept. 11, 2026); U.S. Courts — Bankruptcy filings, July 28, 2026; CAIRP — Q4 2025 Canadian insolvency statistics (OSB data)
Note: We don’t place a U.S. debt-to-income ratio next to Canada’s because the two countries define household debt and disposable income differently. Statistics Canada’s reconciliation study explains why the headline ratios aren’t directly comparable.
U.S. Household Debt in 2026
Total U.S. household debt slipped by $13 billion in the second quarter of 2026 to $18.8 trillion, according to the New York Fed. Credit card balances moved the other way, rising $21 billion to $1.26 trillion.
| Debt type (Q2 2026) | Balance | Flow into serious delinquency (90+ days) |
|---|---|---|
| Mortgages | $13.117 trillion | 1.52% |
| Auto loans | $1.713 trillion | 3.00% |
| Student loans | $1.651 trillion | 7.83% |
| Credit cards | $1.263 trillion | 6.97% |
| Home equity lines (HELOC) | $0.459 trillion | 1.15% |
| Other consumer debt | $0.568 trillion | 5.19% |
Source: Federal Reserve Bank of New York — Household Debt and Credit Report, Q2 2026
- 4.7% of all household debt was in some stage of delinquency in Q2 2026.
- The average card APR on accounts charged interest was 22.15% in Q2 2026, up from 21.52% in Q1, according to the Federal Reserve’s G.19 report.
- Bankruptcies are climbing: non-business filings rose 12% to 581,570 in the year ending June 30, 2026, from 519,486 a year earlier.
Source: New York Fed, Q2 2026; Federal Reserve G.19 Consumer Credit, released Sept. 8, 2026; Administrative Office of the U.S. Courts, July 28, 2026
For deeper U.S. breakdowns, see our U.S. consumer debt report and credit card debt statistics.
Canadian Household Debt in 2026
Canadian households held C$3,280.9 billion in credit market debt in the second quarter of 2026, according to Statistics Canada. Because incomes grew more than twice as fast as debt, the debt-to-disposable-income ratio fell from 178.6% to 176.4% — about $1.76 of debt for every dollar of disposable income.
- Debt service ratio: 14.52% of disposable income went to required principal and interest payments, down from 14.68% in Q1 2026 and below the 15.16% peak in Q1 2023.
- Borrowing slowed: seasonally adjusted household borrowing fell to C$29.4 billion in the quarter; mortgage borrowing dropped to C$19.4 billion, the slowest pace since early 2024.
- Insolvencies near a record: 140,457 Canadians filed a consumer proposal or bankruptcy in 2025, up 2.3% and the most since 2009, according to OSB data compiled by CAIRP.
Source: Statistics Canada — The Daily, Sept. 11, 2026; CAIRP — Q4 2025 Canadian Insolvency Statistics
What These Numbers Mean for You
Your card APR matters most
At an average of 22.15% on accounts charged interest, carrying a card balance is expensive. Compare the avalanche and snowball methods to pay it down faster.
In the U.S.
If minimum payments no longer fit your budget, compare debt management plans, consolidation and debt relief before you fall behind.
In Canada
The Financial Consumer Agency of Canada lists free debt resources, and only a federally licensed insolvency trustee can file a consumer proposal or bankruptcy. See also our Canadian consolidation guide.
Source: Financial Consumer Agency of Canada — Managing debt; Office of the Superintendent of Bankruptcy — What is a Licensed Insolvency Trustee
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Frequently Asked Questions
How much household debt do Americans have in 2026?
U.S. household debt totaled $18.8 trillion in the second quarter of 2026, according to the Federal Reserve Bank of New York. Mortgages made up $13.1 trillion of that, and credit card balances were $1.26 trillion.
How much debt do Canadian households have?
Canadian household credit market debt reached about $3.28 trillion (Canadian dollars) in the second quarter of 2026, according to Statistics Canada. That equals about $1.76 of debt for every dollar of household disposable income.
Are bankruptcies rising in the U.S. and Canada?
Yes. U.S. non-business bankruptcy filings rose 12% to 581,570 in the 12 months ending June 30, 2026, according to the U.S. Courts. In Canada, consumer insolvencies rose 2.3% to 140,457 in 2025, based on Office of the Superintendent of Bankruptcy data reported by CAIRP.
Can I compare U.S. and Canadian debt numbers directly?
Only with care. The figures are in different currencies, and the two countries measure household debt and disposable income differently. Statistics Canada has published a reconciliation study explaining the gaps.
Sources (verified Oct 1, 2026)
U.S. figures are in U.S. dollars; Canadian figures are in Canadian dollars. This page is educational and is not financial or legal advice.
- Federal Reserve Bank of New York — Household Debt and Credit Report, Q2 2026 (Aug. 2026)
- Board of Governors of the Federal Reserve System — G.19 Consumer Credit (released Sept. 8, 2026)
- Administrative Office of the U.S. Courts — Bankruptcy filings, 12 months ending June 30, 2026
- Statistics Canada — National balance sheet and financial flow accounts, second quarter 2026
- Statistics Canada — Reconciling Canadian-U.S. measures of household disposable income and household debt
- Canadian Association of Insolvency and Restructuring Professionals — Q4 2025 insolvency statistics (Office of the Superintendent of Bankruptcy data)
- Financial Consumer Agency of Canada — Managing debt
- Office of the Superintendent of Bankruptcy Canada — What is a Licensed Insolvency Trustee