Inability to pay leads to reliance on debt
``The hole is deep and it will require everyone to make sacrifices without exception,'' Fedeli said
Clients with large mortgages could be challenged as rates rise
The ratio was up from the first quarter but lower than the same period last year
If a strong Canadian economy translates to better wages for your clients, they might benefit from a reminder to put extra cash toward paying down debt. A survey by the Canadian Payroll Association finds that 66% of working Canadians report being in a better financial position than a year ago, but many continue to face […]
If your client is a student, struggles with cash flow might be expected, but some students experience greater financial challenges. That’s because student debt is often cited in insolvency. In fact, almost one in seven insolvencies involve student debt, says a report by Hoyes, Michalos and Associates Inc., which is based on a seven-year review […]
In Q4, there was $1.70 in credit market debt for every dollar of household disposable income
All clients want a worry-free retirement, but some could find themselves facing financial challenges in their golden years. Read: How much retirement saving is enough? That’s because 25% of Canadian retirees are living with debt, finds a national survey from Sun Life Financial. In fact, some retirees still use credit as they did before retirement, […]
A look at how U.S. tax reform will affect leveraged companies
Payday loans are becoming more popular for heavily indebted Ontarians. Read: Now’s a good time for that debt discussion Almost one-third (31%) of 2017 insolvencies in the province involved payday loans, finds research from Hoyes, Michalos & Associates, an insolvency trustee firm. That’s up from 27% in 2016, and is the sixth consecutive year-over-year increase […]