Six in 10 (59%) say they are $200 or less from not being able to pay all their bills and debt obligations each month — a whopping 16-point jump from December and the highest compared to the other provinces. This includes three in 10 (31%, +10pts) who report they are already insolvent with no money left to cover their payments at month-end.

More than half (54%) say they are $200 or less from not being able to cover their monthly bills and debt obligations, a whopping 13-point jump from December. Compared to the other provinces, Ontarians are the most likely (32%, +10pts) to report they are already insolvent with no money left to cover their payments at month-end.

This year’s tax season will more than likely be extra challenging for the nearly nine million Canadians who applied for the Canada Emergency Response Benefit in 2020.

We may not always agree with our parents, but we are undoubtedly influenced by their habits, attitudes, and points of view. The norms and traditions of our upbringing can have lasting impacts on everything from the kind of laundry detergent we prefer to our conscious and unconscious relationship with money.

Bankruptcy can provide relief for most types of consumer debt, save for a few noteworthy exceptions. Therefore, you can — in most cases — include a debt owing to the Insurance Corporation of British Columbia (ICBC) in a bankruptcy. However, each situation is different and ICBC will take a position based on the facts of each file.

Managing insolvency engagements within the new reality of the Bubble impacted engagements when travel was required from individuals outside the Bubble. The creation of the Bubble affected interaction with other professionals – such as lawyers, courts, appraisers, auctioneers and most importantly, buyers of assets.

Unmanageable debt is stressful enough without the persistent half-truths and complete inaccuracies that prevent people from getting the relief they need and deserve. Bankruptcy, more than any other debt solution, often seems to be the target of these myths and misconceptions. Yet it is often the most cost effective, affordable, and fastest path to relief for many Canadians.