Monday, November 28, 2022
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More Canadians are filing for insolvency than we’ve seen since the financial crisis. What’s going on?

Need another reason to feel glum as you open your credit card bills after a rush of holiday spending? Here you go: If interest rates rise, so do personal insolvencies.

That’s one of the main reasons — along with record-high levels of household debt — Canadians are filing for insolvency in numbers not seen since the 2008-09 financial crisis, experts say.

https://www.thestar.com/amp/business/2020/01/02/more-canadians-are-filing-for-insolvency-than-weve-seen-since-the-financial-crisis-whats-going-on.html

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