Separation from your partner is one of the many causes of financial distress. Not all couples may be aware of the fact that when you sign a contract togeth​er, you are responsible to repay all the money borrowed.

Underscoring financial vulnerabilities in Nova Scotia when it comes to consumer debt, the latest official figures from the Office of the Superintendent of Bankruptcy (OSB) continue to reinforce the mounting strain on many households in the province. The number of Nova Scotians who filed for insolvency in the second quarter of 2019 was up 16 per cent compared to the first quarter and up 3.6 per cent compared to the same quarter of last year.

Quebec residents are starting to feel better about their consumer debt situation and personal finances than just a few months ago, however many are still struggling, according to the latest MNP Consumer Debt Index.

If you are experiencing financial difficulty, and can set aside any emotional bias preventing you from being able to make a rational decision in a timely manner, you will save both yourself and your household from significant stress and anguish.

Despite the Bank of Canada stating it will keep interest rates stable until next year, more than 6 in 10 (62%) Atlantic Canadians say they are more concerned about their ability to repay debts than they used to be — the highest proportion compared to other provinces.

As Canadians settle down to embrace summer fun, what many are really doing is creating a winter of financial pain if they do not make the right choices over the coming months.

We have seen countless news reports, tweets, blogs that tell us that Canadians have more debt than ever.

The number of consumer insolvencies per thousand residents in Halifax, aged 18 years or above, decreased to 6.1 in 2017 and then again to 5.8 in 2018.

The number of consumer insolvencies per thousand residents in the Cariboo region, aged 18 years or above, decreased to 3.7 in 2017 and then again to 3.3 in 2018.

The number of consumer insolvencies per thousand residents in Montréal, aged 18 years or above, decreased to 4.9 in 2018, continuing the downward trend since 2016.