The face of personal bankruptcy in Canada is getting older and older.

That's according to a report released on Monday by Hoyes, Michalos & Associates Inc, which found the highest debt levels occur in people aged 50 to 59 with unsecured debts exceeding $84,000. But it all starts somewhere: the average insolvent person appears to be so-called "Joe Debtor", a 43-year-old male with more than $61,000 in unsecured debt.

If left unchecked, the trend is troubling. Debt levels ebb and flow throughout the course of a person's life, from student loan debt to paying down a mortgage for a home to raising children.

But between 50 to 59 is usually the time when a person is trying to reduce debt and prepare for the golden years, says Douglas Hoyes, a trustee with the Ontario-based bankruptcy and consumer proposal services firm.

"We found, nope, in fact it's the opposite. It keeps building and building," says Hoyes, referring to debt loads.

http://ca.finance.yahoo.com/blogs/pay-day-/older-canadians-facing-deeper-debt-study-185230261.html