Debt: How to use it and not abuse it

Warning: file_get_contents(): Peer certificate CN=`*.gridserver.com' did not match expected CN=`srstack.ca' in /nfs/c12/h02/mnt/222074/domains/srstack.ca/html/wp-content/themes/core-theme/inc/i-header.php on line 15

Warning: file_get_contents(): Failed to enable crypto in /nfs/c12/h02/mnt/222074/domains/srstack.ca/html/wp-content/themes/core-theme/inc/i-header.php on line 15

Warning: file_get_contents(https://srstack.ca/wp-content/themes/core-theme/assets/images/sr-stack-logo.svg): failed to open stream: operation failed in /nfs/c12/h02/mnt/222074/domains/srstack.ca/html/wp-content/themes/core-theme/inc/i-header.php on line 15

How do your debt management habits compare to those suggested in this helpful article from CBC.ca?

The Latest Debt: How to use it and not abuse it

This article from CBC.ca gives some great advice on how to manage your debt. Did you know that the average Canadian owes $20,891 in non-mortgage debt? Click below to read more.

READ FULL ARTCILE ON CBC.CA

Did You Know?

In 2017 there were 125,807 insolvencies in Canada. source
In 2017 there were 1,390 bankruptcies and 1,125 proposals in Newfoundland and Labrador. source
Many people who file for bankruptcy get to stay in their home.
In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.

Many people who file for bankruptcy are able to keep their vehicle.
In NL in 2017 there was 36 business insolvencies and 2,479 consumer insolvencies. source
Most bankruptcies are NOT published in the newspaper.
Student loans can be included in a bankruptcy if they are more than seven (7) years old.

A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.
In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]