Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > Canadian Economy

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 12-05-2008, 05:15 PM
Jason Jason is offline
Member
 
Join Date: Jul 2008
Posts: 64
Default Canadian bankruptcies spike in October 2008

According to the article published yesterday in Toronto Star, Canadian bankruptcies surged by more than 20% in October 2008.

Close to 10,000 bankruptcies were filed in October by both Canadian businesses and consumers. This is an over 7% increase compared to the previous month and over 21% increase year over year.

Most of the filings were individuals (close to 9,000), which is close to 23% higher compared to October 2007.

Here is the original source:

http://www.thestar.com/Business/article/548493

All this looks very depressing, and doesn't bode well for the Canadian economy. I guess many people are being crushed by excessive credit card debt, huge mortgages and high interest rates on bad credit loans, payday loans and the like.
Reply With Quote
 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 05:12 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.