March 28th, 2011 by A Licensed Insolvency Trustee
The bankruptcy rate in Canada dropped in 2010, according to statistics recently released by the Office of the Superintendent of Bankruptcy. That’s good news, right? Yes and no. First, let’s review the numbers. In 2010 a total of 135,008 Canadians filed a consumer proposal or personal bankruptcy. That’s an 11% drop from the 151,712 who […]
February 28th, 2011 by A Licensed Insolvency Trustee
Look in the mirror. It’s likely that you have more in common with the average person who files bankruptcy in Canada than you may think. I’m a licensed bankruptcy trustee in Ontario, and today we released a comprehensive new research study profiling the average person who files a consumer proposal or bankruptcy in Ontario. We […]
September 27th, 2010 by A Licensed Insolvency Trustee
What’s the fastest way to accumulate so much debt that you have no option but to file bankruptcy in Canada? As a bankruptcy trustee I have handled thousands of personal bankruptcy filings over the last two decades, and the answer to that question, based on my experience, is easy: Credit cards. If you want to […]
September 6th, 2010 by A Licensed Insolvency Trustee
On September 1, 2010 new credit card regulations took effect in Canada. What are the new rules, and what will they mean to you? Here are the three new regulations: The New Credit Card Regulations in Canada First, credit card issuers must offer a minimum 21 day grace period, during which they can’t charge you […]