In regular economic cycles, recessions cause an instant rise in consumer insolvencies. Not in 2020. Despite record personal debt level among families once we registered the COVID-19 pandemic, and catastrophic job loss as a result of the economic lockdown, consumer insolvencies in Canada decrease to lows not found in two decades.
Still, 96,458 Canadians, such as 33,992 Ontarians, registered a bankruptcy proceeding or consumer suggestion in 2020. The most recent bankruptcy proceeding study produces understanding of who had been submitting insolvency during the pandemic and just why.
As needed by law, we gather an important amount of information regarding everyone who files with us. We study this information to produce a profile of this typical buyers debtor just who files for rest from their obligations (we call this person a€?Joe Debtora€?). 続きを読む