Mounting Pressure on Debtors, as ‘Insolvency Time Lag’, Ease of Credit and Stigma of Bankruptcy Keep Consumer Insolvency Rates Stable
An increase in bankruptcies and insolvencies is predicted within the next year: Canadian Association of Insolvency and Restructuring Professionals TORONTO – (November 16, 2018) – Low interest rates and access to credit have allowed some borrowers to keep up with debt repayments that otherwise would have been unmanageable. However, rising interest rates, coupled with near record high consumer debt levels, are expected to increase the number of Canadian consumers who will be forced into insolvency, according to the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
You can read the entire press release HERE.