Investor Presentaiton
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9
The result of excessive
debt: insolvency.
Consumers are declared insolvent when they can't pay
their debts
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There are two forms of insolvency, bankruptcy and
consumer proposal
Proposals are the preferred route, as the damage to
the consumer is far less than in a bankruptcy
In a proposal, a consumer's debts are reduced and are
given 5 years to pay off the reduced amount
Insolvency destroys credit scores
Economics
Photographer: Cole Burston/Bloomberg
Consumer Insolvencies Approach
Record in Debt-Weary Canada
By Chris Fournier
February 10, 2020, 12:52 PM EST
Updated on February 10, 2020, 2:02 PM EST
Filings top 35,000 in final quarter last year, most since 2010
Untick comes despite solid period of growth in labor markets
https://www.bloomberg.com/news/articles/2020-
02-10/consumer-insolvencies-approach-record-in-
debt-weary-canadaView entire presentation