As the nation awaits the Bank of Canada’s next announcement on interest rates, Ontarians’ appetite for cheap credit is being highlighted by a new Ipsos survey conducted on behalf of MNP Debt.

Nearly half of Canadians are just $200 away from financial crisis; 28 per cent plan to take on more debt to cover regular household expenses in 2016.

Canada is a welcoming place. People from across the globe have been choosing to immigrate here for generations and have, in return for new opportunities, given back more than could have been expected. Our country is richer for their presence.

A debt survey conducted by MNP found that nearly half of Canadians are within just $200 of not being able to keep up with their monthly financial obligations.

I have alot of debt, that I am unable to pay, what happens if I don't declare bankruptcy? I have no money to file for bankruptcy?

Equifax Canada and TransUnion Canada are the two main credit bureau companies in Canada.

The Office of the Superintendent of Bankruptcy (OSB) - Canada's regulator of bankruptcy and insolvency - has announced that the designation “Trustee in Bankruptcy” will be replaced by “Licenced Insolvency Trustee” in the New Year, although Trustees can start using the new designation earlier if they so choose.

One of the goals of the Bankruptcy Assistance Program (BAP), is to ensure low income consumer debtors who need a reduction in the typical fees of a Licensed Insolvency Trustee (“Trustee”) in order to file a bankruptcy can access the BAP, which is administered by the Office of the Superintendent of Bankruptcy Canada (OSB).

Unmanageable debt is exhausting. Living in financial uncertainty while trying to maneuver multiple payment schedules at varying interest rates, paired with the harassing phone calls from creditors can be completely overwhelming.

Take care of those you love, those who are close to you, with or without a bloodline.