Tag: bankruptcy

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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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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Worry = Higher Interest Rates + Covering Monthly Bills

As a collection agency operating in Edmonton, Calgary and the greater 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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Bankruptcies Drop but More Deals with Creditors

Here’s another reason for our clients to remain vigilant in both their credit granting processes as well as their accounts receivable follow-up, including outsourcing problem accounts to Case Receivable Management Inc. Has your company experienced an uptick in once good paying  customers suddenly going past due, filing a consumer proposal or bankrupt? As a collection…

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Bankruptcy and Insolvency Act offences — types, detection, penalties

The Canadian bankruptcy regime was designed with two key purposes in mind – provide options to ‘honest but unfortunate’ debtors struggling with an unmanageable financial load and create an orderly means for creditors to recover amounts owed them. With the potential for abuse ever present, the Office of the Superintendent of Bankruptcy (OSB) has ways…

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Top Eight Signs Your Client May Be In Financial Difficulty

This post is written to help those looking in from the outside (bankers, lawyers, accountants, insurance agents etc.) spot when a client of yours may be experiencing financial difficulty and might need the help of insolvency professionals like us. ?Assessing whether your client is experiencing financial distress does not require access to detailed financial information,…

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Focusing on the practical versus the sexy

While our provincial and federal government intelligentsia continue to focus their legislative efforts on critically important activities (I say this purely in jest) such as new environmental regulation, carbon taxes and carbon levies in an attempt to reduce Canada’s current whopping 1.6% share of total global GHG (greenhouse gas) emissions Albertan’s and many Canadian’s for…

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AB Consumers Continue to Hemorrhage

The rate of consumer insolvencies rose in Alberta in the second quarter of this year by 43 per cent compared to last year, according to a report released by the Superintendent of Bankruptcy Canada at the end of August. We suspect that as a collection agency operating in Edmonton and Calgary we will continue to…

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Alberta Bankruptcies: Storm is a Brewin’

As we reported exactly 13 months ago back in May 2015 when we pontificated that we potentially arrived at an inflection point, the end of the old trend and the beginning of a new trend, for the number of Albertans beginning to experience a higher degree of trouble in paying their debt obligations, recent numbers…

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AB Bankruptcies – the trend is your friend except at the end

The latest numbers from the Office of the Superintendent of Bankruptcies (OSB) for June 2015 indicate that business and consumer bankruptcies increased 433.3% and 19.5% respectively in comparison to June of 2014. Although these numbers are a single data point and one month does not make a trend we thought it still an important data…

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