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Tue May 14, 2019, 12:52 PM

Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis

Source: Huffpost

Higher interest rates and a record-large debt burden are taking their toll on Canadians, with the number of households filing for insolvency hitting an eight-year high in the first quarter of this year.

There were 32,239 consumer insolvencies in the first quarter of 2019, according to the Office of the Superintendent of Bankruptcy Canada. That number that includes both bankruptcies and consumer proposals, an increasingly popular alternative to bankruptcy.

It's the highest number of insolvencies since 2011, and marks a 6.1-per-cent increase from a year earlier, the largest such jump since 2009, when Canadians were dealing with the fallout from the global financial crisis.

Read more: https://www.huffingtonpost.ca/2019/05/14/canadian-bankruptcies-increase_a_23725560/?utm_hp_ref=ca-business

This is at a time when our economy is supposed to be so good and unemployment is the lowest since record keeping began. I couldn't find quarterly stats for the U.S., but I wonder if you're seeing a similar pattern.

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Reply Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis (Original post)
OnlinePoker Tuesday OP
CountAllVotes Tuesday #1

Response to OnlinePoker (Original post)

Tue May 14, 2019, 02:37 PM

1. The people living across the street just lost their house

Last edited Tue May 14, 2019, 05:06 PM - Edit history (1)

They bought it at the top of the bubble in 2005. They paid far too much for it and they never did a thing to it in the 14+ years they were living in the house.

Sad to see such things.

& recommend.

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