February 22nd, 2009 at 7:23 pm » Comments (0)

 
The result: rising levels of consumer debt and declining household savings rates. But in 2008, this culture was hit hard by economic reality. As a result of the credit crisis and ensuing economic recession, savings rates rebounded. For those who had been living beyond their means for years, it suddenly got a lot harder to […]

February 1st, 2009 at 1:12 pm » Comments (2)

 
Personal debt  and bankruptcy is on the rise in Canada. Here’s a brief overview of the personal bankruptcy process.
Between 1990 and 2006 business bankruptcies declined by 42 per cent - but consumer, or personal, bankruptcies increased by 85 per cent, according to Industry Canada statistics. And with Canadian household debt loads continuing to rise, it’s […]