Month: May 2013

The Greying of Debtor Nation

According to Hoyes, Michalos & Associates Inc., an Ontario consumer proposal and trustee in bankruptcy firm a recent report of 7000 personal insolveny filings from 2011 and 2012 indicates that a typical insolvent person is a 43 year old male with more than $61,000 in unsecured debt.  However, the highest debt levels occur in the…

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Auto Finance: What will we see in our rear view mirrors 5 years from now?

Non-bank captive auto finance is one of the few credit portfolios that has grown in Canada over the past year at a robust pace versus the same period in 2012 (balances increased by 9.4 per cent from $50.8 Billion to $55.5 Billion). With 84 month and 96 month terms (7 and 8 years, you’re reading this…

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Consumer Delinquencies Reach All Time Lows!

Equifax Canada’s March Consumer Credit Trends Report released April 24, 2013 finds there was moderate growth in total consumer indebtedness (excluding mortgage debt), year-to-date through March 2013 with an increase of 3.9 per cent to $500.8 billion from $497 billion during the same timeframe in 2012. As a collection agency with offices in Edmonton, Calgary…

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