116- Household Debt and Insolvencies are Surging in Canada

Household debt in Canada has risen steadily year after year. The high levels of debt make the economy vulnerable to any global economic crisis. As a result, more Canadians are having to face insolvency options as it becomes increasingly difficult to manage their debt. In today’s podcast Licensed Insolvency Trustee, Derek Chase, talks about what Canadians high levels of debt mean for you. What can you do to protect yourself?

Derek also discusses:

Federal debt relief programs availableThe ripple effect of interest rate hikesWho keeps track of the Canadian insolvency statisticsWhy you need to become financially literateInvolving the whole family in a savings challenge

If you need further advice about how to manage your debt, contact a Licensed Insolvency Trustee. They are federally regulated and licensed by the Canadian government and will give you honest, unbiased advice.

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

Additional Resources Chase & Associates Licensed Insolvency TrusteeHousehold Debt and Insolvencies are Surging in CanadaEverything You Need to Know About Canadian Inflation Rates & Hyperinflation