Swedish households are borrowing like never before: the debt to income ratio, consumption loans and the amount of debt registered with the Swedish Enforcement Authority have been steadily increasing over the last decade. Meanwhile, life-changing events such as unemployment, divorce and sickness have been identified as drivers of over-indebtedness. The objective of this thesis is to establish whether there is a link between life-changing events and the level of debt with the SEA on the aggregate level. The data comes from various Swedish government agencies between 2010 – 2019. The method applied is a population weighted Ordinary Least Square model with time and municipality fixed effects. The results indicate that an increase in unemployment and divorce rates correlate with an average increase in the share of the population indebted to the Swedish Enforcement Authority. This applies to both men and women, but the association is stronger for men.