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The Office of the Superintendent of Bankruptcy just released their 2015 Annual Report of bankruptcies and consumer proposals in Canada and from these numbers we can see the impact shifts in the Canadian economy have on indebted Canadians. In 2015, 121,609 Canadians filed for insolvency, an increase of three per cent over the prior year.
Better check that credit card statement...
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On July 1, 2015 the long awaited legislation regulating debt settlement services in Ontario comes into force. There are three main features of this new legislation that will impact Ontario consumers, with a ripple effect across the country. The biggest potential benefit to consumers will be the moratorium on up-front fees charged for no real service provided.
OTTAWA - By the time a potential client walks into bankruptcy trustee Andre Bolduc's office, they have generally reached the end of their financial road, unable to pay their debts.They have exhausted...
In Alberta they rose 6.5 per cent, “the worst showing since the recession."