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Keyword: Bankruptcy

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Emotional Stress, Bankruptcy, Finance

Bankruptcies increased by 2% and proposals rose by 4.5%

  • By: Staff
  • April 3, 2019 April 3, 2019
  • 11:32
pencil erasing credit card debt

Consumer insolvencies rose more than 5% year over year in November

If your client is a student, struggles with cash flow might be expected, but some students experience greater financial challenges. That’s because student debt is often cited in insolvency. In fact, almost one in seven insolvencies involve student debt, says a report by Hoyes, Michalos and Associates Inc., which is based on a seven-year review […]

  • By: Staff
  • September 5, 2018 September 5, 2018
  • 16:43

It’s no secret Canadians are cash-strapped, with previous research suggesting many aren’t contributing enough to RRSPs and TFSAs. But, for those who face the extreme of insolvency, daily expenses can be insurmountable, let alone contributing to savings plans. The average insolvent Ontarian uses most of his income to pay for necessities such as housing and […]

  • By: Staff
  • March 27, 2017 August 21, 2018
  • 14:04

Clients in four provinces have access to this niche repayment option.

Many clients know all about the benefits and perils of borrowing money, but it’s likely they’re less prepared to be lenders.

There may come a time when one of your clients calls to say, “I’ve gotten myself into a financial mess and I think I need to file for bankruptcy.”

Consumer insolvencies have jumped in provinces affected by the energy sector downturn and it could keep going up.

  • By: Staff
  • May 11, 2016 August 21, 2018
  • 09:29

Ontario has changed the law governing what bankrupt clients may keep, and what creditors may seize, to settle debts.

Most Canadians believe they’ll retire and be able to live comfortably. Unfortunately, many of them are wrong.