The question i have to ask is can i go bankrupt and keep my car. i have a truck and car...i want to get rid of the truck and all my other credit debt. thanks

The data is in, but it’s not necessarily surprising. Insolvencies are on the rise as many Canadians grapple with the burden of unmanageable debt.

Even while many Canadian consumers are struggling under a sluggish economy and increased unemployment, many were not deterred from sloshing into the snow to hit the stores for seemingly ‘once in a lifetime’ deals.

According to Statistics Canada, households in Canada had the highest debt level ever when measured as a portion of disposable income in 2015’s second quarter.

While the story of Bre-X certainly played out like a movie script, like most Canadian scandals, it garnered little interest outside of the mining industry south of the border, especially, almost 20 years later.

As Canadians struggle in a weakened economy, thousands are starting to bend under the weight of trying to make it from one financial obligation to the next. And what are we relying on to get us through the day-to-day expenses? Debt.

Based on current economists, Canada’s debt to income ratio has reached an all-time high of 163.3%. This means Canadians have $1.63 of debt to every $1.00 of earned income, the highest level ever seen on record. Canada is only 15% below where the United States was when they experienced serious financial despair.

Based on current economists, Canada’s debt to income ratio has reached an all-time high of 163.3%. This means Canadians have $1.63 of debt to every $1.00 of earned income, the highest level ever seen on record.

Birthdays tend to be a time of celebration and reflection and Canada’s 150th birthday is no exception.

Canada Student Loan has announced new relief rules for student loan borrowers who are facing financial duress.