Posts Tagged ‘Debt’

Much has been said about the current state of Canadian household debt.  The latest numbers from Statistics Canada revealed our debt-to-income ratio is now a record 164.6%. But what does this number really mean? In simple terms, you add up everything you owe – your mortgage, line of credit, car loan, credit cards and student…

What do you do when you are in a deep financial hole?  Thousands of Canadians declare bankruptcy every year because they can’t pay their debts.  From 1990 to 2011 consumer bankruptcies increased from 42,782 to 77,993.  That’s a whopping increase of 121.5%. Declaring Bankruptcy Past mistakes aren’t easily fixable but there are ways to climb…