22 Ian

Keep customers out from the red inside their golden years. Many Canadians think they’ll retire and also live comfortably.

Many Canadians think they’ll retire and also live easily. Regrettably, many are incorrect.

Many Canadians think they’ll retire and then live easily as a result of federal government retirement benefits, business retirement benefits and your retirement cost cost savings. They think their domiciles is supposed to be taken care of, and any debt won’t be had by them concerns. Regrettably, most of them are incorrect.

Hoyes, Michalos & Associates circulated our latest Joe Debtor report this could. Every couple of years we determine our customer information to find out trends that are emerging debt and insolvency filings. For the previous 5 years, insolvency filings have now been decreasing in Canada, therefore we weren’t expecting any revelations inside our report. That’s why our discoveries had been therefore unsettling.

People aged 50 and older carried the best general financial obligation, and in addition they had the credit card that is highest and pay day loan debts.

Such folks comprised 30% of most insolvency filings throughout the duration under review. This really is an increase that is marked our 2013 report, once they taken into account 27% of all of the filings. Read More