Leamington
A study of 5,500 individuals on millennials and financial literacy conducted by PricewaterhouseCoopers and George Washington University confirmed that millennials (ages 23 – 25) have an alarmingly low level of financial literacy, which could have “disastrous” effects on the economy. Have inadequate financial literacy When tested on financial concepts, only 24% demonstrated basic financial knowledge. Need … Read more
What Are The Top 10 Causes of Bankruptcy in Canada? People who are considering filing bankruptcy are not alone. Over 120,000 Canadians declare bankruptcy or make a consumer proposal (a popular bankruptcy alternative) annually. These consumers are honest people who found themselves trapped in debt for one reason or another. Need Help Reviewing Your Financial … Read more
Benefits of Credit Counselling Canadian consumers who are struggling to repay their debt might benefit from a credit counselling plan. Credit counselling can help you regain control of your finances. Working with a credit counselor, such as a Licensed Insolvency Trustee, allows you to work with a financial expert who can review your current debt … Read more
A recent Equifax National Consumer Credit Trends Report sheds some interesting facts on debt loads (excluding mortgages) across Canada, by province, city and age group Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Ontario consumers experienced the greatest increase with a 5.1% increase … Read more
Bankruptcy – Canadian Insolvency Statistics Canada’s bankruptcy rate has risen over the last five years as set out below: Bankruptcies and Proposals: 2012-2016 2012 2013 2014 2015 2016 Cons. Bank. 71,495 69,224 64,839 63,406 63,372 Bus. Bank. 3,236 3,187 3,116 3,089 2,884 Proposals 48,020 50,548 54,314 59,221 63,471 Total 122,751 122,959 122,269 125,716 129,727 … Read more
All the records and documents required to file bankruptcy are listed on the information form trustees require you to fill out before coming in for you initial consultation. The trustee will also require you to swear an oath that everything stated on the information form is correct. Need Help Reviewing Your Financial Situation? Contact a … Read more
Top 5 Financial Blogs to Follow in 2018 As you already know, Bankruptcycanada.com is a great place to beef up your knowledge on issues related to bankruptcy and debt. But there are a vast number of financial blogs available on other subjects as well. The financial blogosphere actually encompasses an incredible diversity of topics, ranging … Read more
