Has carrying debt become riskier? Maybe - the Office of the Superintendent Bankruptcy released their 2015 Annual Report today, detailing the number of insolvencies in each province. All provinces, with the exception of Ontario, experienced an increase. Canadian insolvencies by province are provided in a table at the end of this post. Click here for Ontario […]
On this episode of Debt Free in 30, bankruptcy trustees Blair Mantin and Barton Goth discuss debt levels in British Columbia and Alberta compared to the rest of Canada, consumer delinquency rates and why home ownership is out of reach for many Canadians.
The Office of the Superintendent of Bankruptcy recently released June bankruptcy statistics. Looking at the first six months of 2015, consumer insolvencies in Ontario were down a little over 3% compared to a year ago. In Ontario, bankruptcies have been on the decline since 2009, in large part due to a relatively strong economy and […]
Our newest Joe Debtor study reveals that, for a core group of Canadians, debt is a survival tool. Yes, insolvency rates in Canada and Ontario have declined. In Canada, total personal insolvencies (including personal bankruptcy and consumer proposal filings) declined 0.5% in 2014. At the same time Ontario insolvencies fell 7%. Yet certain at-risk groups […]
Ted discusses his bankruptcy outlook for 2015 and gives several predictions for the coming year, touching on important financial topics such as the economy, unemployment, and interest rates and how these may affect debtors going forward.
Believe it or not bankruptcy does have seasonality to it. The number of consumer bankruptcies and proposals is lowest in January and December in most years and highest in March. Summer is usually a quiet period followed by an increase again in the fall. Some of this makes sense based on how we live our […]
More than half of insolvencies in Ontario are now a Consumer Proposal. That compares to just 42% three years after consumer proposals were introduced into the Bankruptcy & Insolvency Act. Now, three years later, the rate is 51% and the trend is still increasing. There are a lot of articles about the pros and cons […]
The young ones, it seems, have figured out the ruse behind the whole lottery machine — and they aren’t buying into it. The latest data out of the Ontario Lottery and Gaming Corp. tells a tale of an aging business that isn’t keeping step with a younger generation that’s demonstrated a decided indifference for playing […]
In statistics just released by the Office of the Superintendent of Bankruptcy, the number of personal insolvencies filed in Ontario in November 2013 decreased by 10.4% as compared to the month of November 2012, continuing a trend of dramatic year over year declines throughout much of 2013. Personal bankruptcy filings declined by 8.3%, while consumer […]
Going through bankruptcy doesn't just hurt you financially or damage your credit rating; it can also have a pretty big effect on your emotional stability. While you might feel embarrassed after becoming bankrupt you should not feel it is the end of the world. Most people have gone on to become extremely successful and happy […]