Which word is more cringeworthy to you, budget or diet? Sadly, for many of us, we view those words with the same disdain.

Nobody enjoys being delinquent on their bills. But unfortunately, it’s not always possible to make ends meet.

According to a recent Ipsos poll conducted by MNP LTD., Albertans’ pocketbooks are continuing to get lighter as a result of recent interest rate increases.

Underscoring Albertans' financial vulnerabilities when it comes to 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 Albertans who filed for insolvency in the second quarter of 2019 was up 10.6 per cent compared to the same quarter of last year and up 7.8 per cent compared to the first quarter of this year.

For people with minor or even moderate debt, the combination of a structured financial plan and a few temporary sacrifices can go a long way toward eliminating their burden.

At some point, everyone has succumbed to the impulse to buy a new gadget, a new pair of shoes or some other spur of the moment gift for themselves.

With the steadily increasing record levels of consumer debt amongst Canadians, as a Licensed Insolvency Trustee, I am surprised by the number of people who contact me without having ever obtained their own credit report.

After nearly a decade of historic lows, the Bank of Canada began increasing its key overnight interest rate in July 2017 in response to improving employment figures and a growing economy.

Every parent knows just how busy – dare I say hectic – family life can be.

The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.