Every two years my bankruptcy firm, Hoyes, Michalos & Associates, analyzes all of the debtors we have helped in order to put a face on the average person who files bankruptcy or a consumer proposal. In what we call our Joe Debtor study we identified five dreams destroyed by debt.

Prime Minister Harper is proving a political populist by practice and fiscal hawk by necessity; his finance minister, Jim Flaherty, is actually more the reverse. That tandem is holding, for now. A new Bank of Canada governor means renewed focus on the country's economic direction.

Most people would agree that you shouldn't have to pay someone else's tax bill. Despite all of the myths surrounding tax filing, this one is actually in accordance with Canadian law. If a relative of yours were to die owing money, you have no obligation to pay their debts. It doesn't matter who they are, parents, siblings, aunts or uncles. If they have spent all their money, and die having nothing but debts, you're in the clear. However, unlike people whose debts die with them, a government's debt is carried forward forever (or until it's paid off). As we move through time, we're getting closer and closer to the point where it will be impossible to "clear our tab."

Canadians may say they’re serious about tackling their debt loads, but a national survey finds that many weren’t able to translate that desire int...

BMO's recent decision to lower its mortgage rates and potentially trigger yet another mortgage price war among Canadian banks. This has triggered a debate among analysts and commentators about the merits of debt -- one outlining this week why "it's a great time for Canadians to be in debt."

Many seniors were busy racking up thousands of dollars in new debt in 2012, even as younger Canadians were able to keep new borrowing to a minimum, ac...

Consumer debt has become a major concern in Canada. The stress of dealing with unmanageable debt can be overwhelming for most consumers. Between creditor calls, collection threats and living paycheque to paycheque, "get out of debt fast" opportunities can be very appealing. But are they too good to be true?

There's been a rise in the pawn industry as people look to sell off personal items in order to do any number of things from pay off debts to maintain lifestyle, to grow new businesses where other financing avenues are not available to them. Here are five situations where pledging personal assets as collateral can save you money.

Instead of making unrealistic and lofty resolutions this year, start 2013 off on the right foot by committing to a personal financial goal, and create a plan to achieve that goal.To help you get started on the road to financial health, try some of these proven methods to tackle debt, and make your 2013 financial goals a reality.

We have all been there. Two weeks before the winter holidays, three gifts left to buy and zero dollars left in the holiday budget. For many, this is the point where we either stop shopping or cross that thin financial line and set ourselves up for a nasty holiday debt hangover. So, what do you do when the holiday well has run dry and you still have a few gifts left on your shopping list?

Canada’s provinces are in long-term fiscal trouble. That was the conclusion of a recent report from federal Parliamentary Budget Officer Kevin P...

TORONTO - A new poll suggests more Canadians are living debt free this year compared to 2011.The annual RBC survey found that 26 per cent of responden...

TORONTO - There is more than a 20 per cent risk of Canada falling into a second recession — and though much of that risk comes from outside our bord...

As debate about the stability of the Canadian housing market continues to swirl, a new report has come down firmly on the side of the bubble believers...

TORONTO - Standard & Poor's Ratings Services has revised its outlook from stable to negative on seven Canadian banks over concerns about unsustainably...

TORONTO - Canadians who are worried about the amount of interest they pay for borrowing money could be relieved to hear the central bank decided Tuesd...