Author: cdugan

Bankrupcies; Meh…

The latest figures from the Office of the Superintendent of Bankruptcy Canada released on January 10, 2019 show the number of Canadian businesses and consumers financially going under jumped significantly in November 2018 compared to a year ago. Alberta continues to lead the nation. Total insolvencies in Alberta in November 2018 — including bankruptcies and…

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Canadians; CRAZY in love with debt

As a collection agency with offices in Edmonton, Calgary and the GTA we recognize that the vast majority of consumers we inevitably end up dealing with are good people, with good intentions, that have now simply arrived at the tipping point of having to either try to continue to rob Peter to pay Paul or,…

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Harbinger of Turmoil: When the Bank of Canada Buys

As a collection agency with offices in Edmonton, Calgary and the GTA we are watching with keen interest the unfolding of the following events with respect to their impact (or lack thereof) on Canadian credit markets. In mid November the Bank of Canada (BOC) announced for the first time that they would look to start…

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Differing Degrees of Misery is still Misery

Just how much money do you need to be among the global 1 percent? According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. or $1,141,429.20 CDN using an exchange rate of 1.31 as of the time of this post. Credit Suisse defines net worth,…

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Consumer Cannon Fodder

Good news for long abused savers while long favoured debtors are nudged a little closer to the precipice. It appears overindebted Canadian consumers can now officially consider themselves nothing but cannon fodder at the Bank of Canada. Governor Stephen Poloz and his deputies on the Governing Council raised the benchmark interest rate a quarter-point to…

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CPA Survey of Employees

More evidence was released in September that an alarming proportion of Canadians are in financial quicksand. The Canadian Payroll Association’s annual survey shows 40 per cent of working Canadians feel “overwhelmed” by their debt, with more than one-third of respondents saying they loaded up on leverage over the last year. (Will we ever learn). Meanwhile,…

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A Deeper Dive on Business Bankruptcies/Proposals

Has your company experienced an uptick in once good paying commercial customers suddenly going past due, into CCAA protection or bankrupt? As a collection agency operating in Edmonton, Calgary and the GTA we can help. Our intent is not to fear monger or spread doom and gloom. We’re not economists. Nor do we consider ourselves…

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Consumers worried? Really?

Nearly 60 per cent of Canadians have changed their behaviour by doing things such as cutting back on spending on both extras and essentials to brace themselves for rising interest rates, a new survey from Manulife Bank suggests. As a collection agency operating in Edmonton, Calgary and the GTA we recognize that the vast majority…

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Understanding Tin Foil Hats

Never judge a man by the fact that he may be wearing a tin-foil hat. Rather seek to understand the reasons why. We found one such item that, either downplayed or completely absent from the mainstream, may drive some to question true reality from the reality that the masses are fed. As a collection agency…

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Debt Trap!

The day of reckoning for over indebted Canadians does not appear to be coming soon, but a new survey indicates a rising proportion of Canadians fear the fallout from higher interest rates. Thirty-three per cent of respondents to a survey conducted on behalf of MNP said they could be pushed toward bankruptcy due to rising…

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