Tag: debt canada

One-Third of Canadians Report Being Unable to Pay Bills, Debts: Survey

July 12, 2023
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One-third of Canadians say they cannot cover their bills and debt payments, while more than half state they are $200 or less away from being unable to cover their financial obligations, according to a new survey. The latest results from the MNP Consumer Debt Index—gauging Canadians’ attitudes toward consumer debt and their ability to pay…

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More Canadians Filing for Insolvency, More Businesses Declaring Bankruptcy: New Report

March 26, 2023
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The number of insolvent Canadians skyrocketed by 33 percent on a year-over-year basis in January 2023, according to a new report, which blames rising inflation and high interest rates for the jump. The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) released a report on March 1 indicating that 8,735 consumer insolvencies were filed in…

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