People with bi-weekly income have the unique advantage of receiving 26 paycheques per year, compared to 24 paycheques for people who receive semi-monthly remuneration.

The primary purpose of the Bankruptcy and Insolvency Act (BIA) is to allow honest but unfortunate debtors relief from their debts and the chance to make a financial fresh start.

People fear the word “bankruptcy” for many different reasons. Often people worry about the effects a bankruptcy may have on their credit rating, the effect on their family or on co-signors and the societal perceptions.

This discrepancy between income in / income out has led to a significant increase in insolvency filings throughout the province. Sound familiar?

With the Bank of Canada raising interest rates on September 6, debt holders across the country are left wondering what it means for them.

​Relief from debt stress may be the only thing people focus on when they file a Bankruptcy. But for most households dealing with the overwhelm and hopelessness of long-term money problems, that's only the beginning. Bankruptcy has numerous peripheral benefits, which, once the dust settles and the debts are gone, usually turn out to be the most life-changing of all. Looking past the fear of judgement, of hurting their credit of admitting defeat,...

Underscoring Manitobans' financial vulnerabilities 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 Manitobans who filed for insolvency in the second quarter of 2019 was up 15.5 percent compared to the first quarter, and up 4.1 percent compared to the same quarter of last year.

I doubt that mental health was on the minds of legislators when the Bankruptcy and Insolvency Act (BIA) came into effect in 1950.

Canadians are feeling worse about their consumer debt and personal finances than was the case just three months ago.