There are a number of factors that play into achieving financial well-being. Some are within our control, and unfortunately, some are not. Like most things in life, we should focus our attention on the things that are in our control.
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November is Financial Literacy Month
Financial Consumer Agency of Canada (“FCAC”), FLM is a coordinated effort “to strengthen the financial literacy of Canadians and empower them to manage money and debt wisely, save for the future and understand their financial rights and responsibilities”.
What Is a Consumer Proposal?
Most consumer proposals are structured as monthly payments overtime at less than the full payout.
Director Obligations and How To Prevent Corporate Debts From Becoming Personal
Company debts can become personal debts. It is important to understand the links between the Company and directors (including guarantors of Company debts). These links need to be considered and managed when dealing with a Company insolvency. We have the experience to help.
July 2017 -Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.7% and consumer proposal filings were up 3.4% as compared to the 12-months ended July 31, 2016. New Brunswick – Personal bankruptcies were down 5.9% and consumer proposal filings were up 20.5% as compared to the 12-months ended July 31, 2016.
June 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.9% and consumer proposal filings were up 2.4% as compared to the 12-months ended June 30, 2016. New Brunswick – Personal bankruptcies were down 7.1% and consumer proposal filings were up 14.4% as compared to the 12-months ended June 30, 2016.
May 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 4.9% and consumer proposal filings were up 4.1% as compared to the 12-months ended May 31, 2016.
New Brunswick – Personal bankruptcies were down 6.2% and consumer proposal filings were up 13.8% as compared to the 12-months ended May 31, 2016.
The Up-Sell
You can’t make it through a drive-through without “do you want to upsize that?”, “can we add a muffin?”, “do you want to make a donation to….”; no, thank you, I just want the coffee I ordered!
April 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 3.7% and consumer proposal filings were up 5.1% as compared to the 12-months ended April 30, 2016.
New Brunswick – Personal bankruptcies were down 2.9% and consumer proposal filings were up 9.4% as compared to the 12-months ended April 30, 2016.
March 2017 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 2.0% and consumer proposal filings were up 6.7% as compared to the 12-months ended March 2016.
New Brunswick – Personal bankruptcies were down 0.1% and consumer proposal filings were up 7.7% as compared to the 12-months ended March 2016.