We’re facing massive inflation with more and more people turning to debt to make ends meet. Bankruptcies are still at record lows, but perhaps not for much longer. On today’s podcast, Doug Hoyes and Ted Michalos give us an update on what’s going on now and how the rising cost of living is impacting our wallets. They also explain why someone would ever need to file bankruptcy by providing some realistic scenarios that lead one to financial trouble. Doug and Ted also share their predictions for what’s to come and give lots of practical advice for how to manage debt in today’s economy. Tune in!

Links:

Hoyes Michalos Joe Debtor Bankruptcy Study  https://www.hoyes.com/press/joe-debtor/            

Why and How Does Someone go Bankrupt? https://www.hoyes.com/blog/why-and-how-does-someone-go-bankrupt/

Statistics Canada. Table 36-10-0112-01 Current and capital accounts - Households, Canada, quarterly https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201