While it is traditionally thought that upper-class households typically do not have to worry much about debt, debt collection
agents know that is no longer the case, and that on average, the upper class is in more debt than the lower brackets. The Canadian Financial Capability Survey conducted by Statistics Canada found that more advanced income brackets and higher education levels correspond to a larger amount of debt. Approximately two-thirds of households are in debt, with average outstanding debts totaling $114,000 as of 2009. The survey noted that families that earn at least $100,000 owe nearly $60,000 more than homes that earn $50,000 annually. And due to the high frequency of college students depending on student loans to fund their post-secondary school experience, people who have obtained at least a bachelor's degree are usually in debt $26,000 more than those without a high school diploma. In an article for the Bankruptcy Law Network, attorney Susanne Robicsek noted that the effects of the U.S. recession, including layoffs, rising prices and a mortgage crisis have affected every American class. Surprisingly, the Statistics Canada report found people with advanced financial knowledge, as determined by a questionnaire, are more likely to have high levels of debt.