Large Increase in Personal Bankruptcy Filings in Cambridge

March 3, 2010

In statistics just released by the Office of the Superintendent of Bankruptcy, 917 residents of Cambridge filed a consumer proposal or personal bankruptcy in 2009. That’s an increase of 33% from 2008, and is the highest number of filings on record. (More information for prior years can be found on our Cambridge Bankruptcy Statistics page). [...]

Read the full article →

The Importance of Being Skeptical

January 25, 2010

One of the keys to financial success is to be skeptical: don’t believe everything you read, hear or see. There is an infomercial on television where the product is only $19.99, but if you call within the next twenty minutes we’ll send you a second one absolutely free, "just pay separate shipping and handling." A [...]

Read the full article →

Massive Increase in Bankruptcy Rate in Cambridge

November 24, 2009

The Office of the Superintendent of Bankruptcy released the latest round of bankruptcy numbers, and they aren’t pretty. Personal bankruptcies are way up. In the Waterloo region, which includes Cambridge, the personal bankruptcy rate was up by 55% in the last three months, as compared to the same period last year. The bad news is [...]

Read the full article →

How Bankruptcy in Cambridge is a Fresh Start

October 19, 2009

I had an interesting meeting with a man this week in my Cambridge office. As with everyone I meet, we talked about his options for dealing with his debts, including a consumer proposal or a personal bankruptcy. In his case, due to his reduced income and some health factors, he decided that filing personal bankruptcy [...]

Read the full article →

New Rules Make Bankruptcy in Cambridge More Expensive For Some

September 28, 2009

After a very long wait, the new bankruptcy rules are here, and the bad news is this: for many residents of Cambridge, Ontario, bankruptcy will cost more. As I reported back on August 11, the new bankruptcy rules were scheduled to come into force on September 18, and they did. In fact, in the two [...]

Read the full article →

Bankruptcy in Cambridge, and on TV

August 11, 2009

Tuesday is one of my normal days in my Cambridge office, and today was no different. Early in the afternoon I met with a young couple in financial trouble. She is home with their newborn child, and up until a few weeks ago he had a good job, until he got laid off. They met [...]

Read the full article →

When will the government help the average Canadian?

May 21, 2009

As a bankruptcy trustee my job is to ensure that the bankruptcy process is fair to everyone. I don’t work directly for you, the person in financial trouble, but I also don’t work for the creditors (the people you owe money to). I’m like the referee in a hockey game; my job is to make [...]

Read the full article →

How Many People went Bankrupt in Cambridge in 2008?

April 15, 2009

Douglas Hoyes, Trustee   How many people went bankrupt in Cambridge in 2008? That’s a hard question to answer, because the Office of the Superintendent of Bankruptcy (the "OSB") in Ottawa does not publish statistics for Cambridge. They include Cambridge in the results for Kitchener, so it’s impossible to know from their published statistics exactly [...]

Read the full article →

CBC Television Interview About Bankruptcy

March 30, 2009

Last week I was asked to appear on the CBC Television CBC News Sunday program to discuss what it’s like to go bankrupt, so on Sunday morning, in the rain, I got into my car and made the hour long drive to the CBC studios on Front Street in Toronto. As the economy worsens, the [...]

Read the full article →

Am I the only person considering filing bankruptcy in Cambridge?

February 6, 2009
Read the full article →

← Previous Entries

Next Entries →