Lethbridge Herald

Insolvenci­es expected to increase in 2020


A national associatio­n of insolvency and restructur­ing profession­als expects personal insolvenci­es will grow in 2020 after the rate of filings increased 8.9 per cent in November over the same 12-month period the previous year.

The Canadian Associatio­n of Insolvency and Restructur­ing Profession­als says the number of people struggling with debt in November is “just the tip of the iceberg.”

Associatio­n board member Andre Bolduc says most people wait until they’ve reached the breaking point before seeking help, making it harder for them to dig their way out.

The Office of the Superinten­dent of Bankruptcy says almost 136,000 Canadians became insolvent over the 12month period, up from 125,000 in the prior year.

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