Purchasing decisions used to be easy for most households. Until the early 1950s, people mostly bought what they needed and paid for their purchases with cash. Wants were few and luxury items for the most part beyond reach. Fast-forward 70 years and it’s not surprising that “I see, I want, I buy” has become the guiding mantra for so many consumers and that consumer debt keeps breaking one record after another.

Despite the fearless efforts of previous generations there remains a pronounced gender wealth gap in Canada, along with persistent stereotypes and stigmas about how women manage their money. In celebration of International Women’s Day 2021, and their theme #choosetochallenge we’re challenging preconceptions around women and debt — and empowering women to take responsibility for their own financial success and debt freedom.

Bad financial habits are easy to fall into and impact wealthy households, low income individuals, the highly educated and uneducated alike. They can cause all sorts of personal and financial difficulties — but it’s often not until they’ve done significant damage that people begin to recognize how their bad financial habits are sapping their wealth and holding them back.

Many people are surprised to learn there is no minimum or maximum income threshold to file a Bankruptcy. Individual financial situations are so unique that it’s possible someone earning $10,000 per month is just as eligible to file a Bankruptcy as someone earning $2,000.

Fear of losing needed or cherished assets is one of the most common reasons why people are hesitant to file a Bankruptcy. And a motor vehicle is understandably one of the assets potential bankrupts are most fearful of losing. Unfortunately, there isn’t a universally black or white answer to this question. Here’s why.

It is a common misconception that if one partner in a marriage files Bankruptcy, the other needs to as well. However, this isn’t always the case: there is no law that says both parties must file Bankruptcy. But it is a timely opportunity to review your financial affairs and consider exploring options to deal with your debt.

One of the most common questions among consumer debtors contemplating Bankruptcy is, “what will happen to my assets?”

Everyone can relate to feelings of depression and hopelessness at various points in their lives. Chronic or fleeting, these emotions may result from a sudden unexpected event such as a job loss, illness, or relationship breakdown — or build up more gradually.

Every day we receive dozens of questions on our website, on social media, and during Free Confidential Consultations wondering how to overcome or alleviate debt without filing a Bankruptcy or Consumer Proposal.

Are you a millennial? This generation is quickly rising to dominance in Canada, representing a highly influential age range of 25 to 40 years and comprising more than a quarter of the population.