At some point, everyone has succumbed to the impulse to buy a new gadget, a new pair of shoes or some other spur of the moment gift for themselves.

With the steadily increasing record levels of consumer debt amongst Canadians, as a Licensed Insolvency Trustee, I am surprised by the number of people who contact me without having ever obtained their own credit report.

After nearly a decade of historic lows, the Bank of Canada began increasing its key overnight interest rate in July 2017 in response to improving employment figures and a growing economy.

Every parent knows just how busy – dare I say hectic – family life can be.

Regret is one of the most common refrains Licensed Insolvency Trustees hear when we talk to clients about their debt. They ask questions like, “how did I get into this mess?” Or, “why did I make that decision?”

If you want to leave a legacy when you pass away, defeat debt before you retire. Otherwise all you leave may be paperwork and memories.

You've done everything you can to provide a good life for your family. You've worked hard to put a roof over their head, food on the table, clothing on their backs — to make sure they'll never want for anything.

YES! Of course you can still buy things after you file for bankruptcy; in fact, one of the most attractive benefits of a bankruptcy is that you are free from all of the unsecured debt payments you were previously making and as a result; you will likely have more discretionary spending money compared to before your bankruptcy.

Home equity lines of credit (HELOCs) have emerged as one of the biggest contributors to the growth of household debt in Canada, particularly in markets where real estate values have surged over the last decade. The latest data from the Office of Superintendent of Financial Institutions (OSFI) shows that the balance of loans secured by residential real estate has reached another record high of 269 billion in June. .

A recent Ipsos poll conducted by MNP LTD. shows British Columbians are growing confident about their debt. Most notably, nearly three in five (57%) B.C. residents say they’re more optimistic than they were four months ago.