Toronto, Ontario Law Blog

Personal Bankruptcy – How Does It Work?

Do you sometimes feel that you are so indebted that declaring personal bankruptcy might be the only solution? You’re not alone. Nearly a third of Canadians think rising interest rates are pushing them towards personal bankruptcy. A December 2017 Ipsos survey revealed:

  • One-third of Canadians cannot pay their monthly bills and keep up with their debt repayments
  • 48 per cent of Canadians say they are within $200 of not being able to meet their monthly financial obligations

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