I question the Canadian national myth that as a nation, we can really hold our liquor. Just put your Molson Canadians aside and quaff a few Belgian brews, for instance, and you’ll soon realize we’re lightweights.

It appears, though, that we may be pretty good at holding our debt.

The latest quarterly report on Canada’s consumer credit trends from Equifax, a leading global consumer-credit rating agency, found that “serious” delinquencies on non-mortgage credit hit a record low of 1.19 per cent in the fourth quarter of 2012. (“Serious” is defined as payments that are overdue for 90 days or longer.)