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Category: Insolvency News

HOW MUCH DEBT DOES THE AVERAGE CANADIAN CARRY?

September 5, 2017

The answer depends on how you manipulate statistics. So let’s mess around with some stats. In Canada approximately 46% of the population, according to Statistics Canada, are earning incomes that exceed the LICO (Low Income Cut Off) – the politically correct way of saying “poverty line”.  While only 2.5% earn more than $150,000 per year. […]

Licensed Insolvency Trustee

September 5, 2017

Trust your trustee Creditors are calling they are threatening you and making your life miserable you need to do something but where do you start?   Who can you trust? Trust a Trustee: You don’t want to talk to a Licensed Insolvency Trustee because they are just going to bankrupt you and take over your life, […]

SHOULD GOVERNMENT REGULATE CREDIT CARD ADVERTISEMENTS?

September 5, 2017

The tobacco industry’s advertising was regulated and as a result many people have quit smoking. Yesterday I received a splashy piece of ad-mail from HSBC that announced “CUSTOMIZE AN HSBC MASTERCARD THAT’S RIGHT FOR YOU.” Alright let’s think about that for a moment.  First to what extent can I customize it?  Perhaps I can choose […]

HOW MUCH DEBT IS TOO MUCH DEBT?

September 5, 2017

We might also ask, “where do these numbers come from?” The information in this blog comes from news reports on CBC online news media. Before getting into the meat of the subject let’s look at the numbers: Apparently Canadian consumers owe $1.92 trillion in debt. Canadians, on average, owe 1.65 times annual, gross, income in […]

UTILITY BILLS AND MORTGAGES

September 5, 2017

Ontarians enjoy, amongst many other benefits, the highest electricity bills in Canada.  Today we heard that we can brace ourselves for an increase of 40% in natural gas costs as well as a further $17.00 per month charge to the gas company. Did anyone ask themselves what the variable costs are that justify the increased […]

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