Statistics Canada keeps close tabs on the economic status of Canadian consumers, and publishes its findings yearly. Similarly, the Office of the Superintendent of Bankruptcy Canada (OSB) records statistics specifically on insolvency. Drilling down into the data reveals both cautionary and inspiring trends. Note that Statistics Canada defines a consumer as an individual with more […]
Improvements to Ontario’s student aid system were unveiled in the Ontario budget this week. Lauded by all levels of Ontario’s education system and by student advocacy groups, these changes aim to make college and university more affordable for students from lower-income homes. Under the new legislation, which will begin phase-in in 2017, students from families […]
For most who realize they are in serious financial difficulties, it’s a very rude awakening! Are you reading this because you feel this way? You are far from alone. The thing is, until we find ourselves in this situation (I filed a Consumer Proposal in 2009), we have probably believed certain fallacies. The key untruth […]
“If I file for Bankruptcy, will I have the means to support my family?” “I’ve heard it costs money to file for Bankruptcy, and I don’t have enough as it is – how can I afford it?” It seems like a catch-22 – you have very little money, and the solution itself carries costs. These […]
I filed a Consumer Proposal in 2009. I remember the awful feelings I had leading up to my decision to see a Trustee (hint: I felt much better once I’d consulted with him). Since I completed the Proposal, I’ve spoken to others who have been in the same situation, and felt the same way. How […]
I filed a Consumer Proposal in 2009, after realizing that despite all the strategies I had been trying (including buying nothing but the essentials), I soon would not be able to pay all my bills. Like me, some debtors know they are getting into serious trouble even before they miss any bill payments. Others have […]
You’ve been struggling with your finances for many months, but things are not getting easier. You’re losing sleep while you worry about your situation. You’re embarrassed to tell anyone at home or at work. You’re afraid Bankruptcy may be next! You are in good company. Over a million Canadians have experienced insolvency and filed for […]
We’ve all been there – the shopping craze of December, looking for those perfect last few gifts, making sure there is enough food in the house for your holiday guests, decorating your home inside and out. As if paying for these things weren’t enough, there are hidden expenses as well. Shopping can take time out […]
Many individuals and families these days are dealing with tight financial conditions. It’s not uncommon. You may have been making financial maneuvers for many months just to get by. But, how do you know when you may be headed for more than just a tight budget? What are the warning signs that you are seriously […]
Nan and Richard had to tighten their budget after Richard lost his job in management. He’d been searching for a few months for a new position, but interviews had gotten him nowhere. Nan still had her job, but their income had taken a hit. A reduced budget was not the greatest of their concerns, however. […]
