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.

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.

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.

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.

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.

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.

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

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

I would like to ask if you can declare personal bankruptcy for only one of your creditors? I have others but the amounts are small and payments are up to date.