137 - What Causes Bankruptcy and What Are the Consequences?
DebtMatters Podcast
English - February 13, 2024 14:00 - 18 minutes - 16.7 MBEducation avoid debt bankruptcy consumer proposals credit personal finance credit counselling credit issues debt debt help finance Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Debt is on the rise as Canadians deal with surging prices and interest rates. Many may not realize that they’re on the precipice, only making their minimum payments on a large amount of debt. But all it takes is one major change for the house of cards to fall. In this timely podcast, Licensed Insolvency Trustee, Bonnie Hooley talks about the causes of Bankruptcy - taking the judgment out and knowing that when we have credit, Bankruptcy can happen to anyone. Bonnie also discusses:
Seeing Bankruptcy as a tool for honest but unfortunate debtors to get back on trackHow changes in life’s circumstances can be a contributing factorSocietal factors are not the only causes of BankruptcyA common mistake that can lead to self employed insolvencySmall business versus corporate BankruptcyThe role of counselling sessions and why they are importantIf you are struggling with your debt, Licensed Insolvency Trustees can help. They are licensed by the federal government of Canada and the only professionals who can administer Consumer Proposals and Bankruptcies.
About Bonnie HooleyBonnie Hooley has worked in the insolvency field for over 40 years. She attained her Licensed Insolvency Trustee license in 1999 and is the Past President of the Manitoba Association of Insolvency and Restructuring Professionals (MAIRP). Over the years, she has served on various boards within her community.
Additional Resources LCTaylor Licensed Insolvency Trustee$200 Away from BankruptcyAnswers to the 7 Most Important Bankruptcy Questions