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Earnings week for Canada’s biggest banks saw the country’s major lenders move in lockstep ahead of a projected economic downturn, with each putting more money away for a possible rise in credit losses. Experts say the more expensive cost of borrowing in Canada and the possibility of job losses could …
Read More »Q&A: Bankruptcy, consumer proposals, mounting credit card debt and more
Do you lose your house when you file for bankruptcy? Should you cash out your RRSPs to avoid it? Too many people rely only on creditors or collection agencies for debt advice — at least according to one member of our CBC Calgary text messaging community. So we put out a …
Read More »Canadians are turning to credit cards for financial stress relief — and debt is on the rise
As high inflation rates drive up the cost of essentials, consumers are putting purchases small and large on their credit cards to alleviate some immediate financial pressure. A Tuesday report by credit bureau Equifax Canada shows the practice is driving Canadians into debt as balances begin to outpace the ability …
Read More »Tax agency obtains ‘jeopardy order’ for debt from Downton Abbey-loving billionaire
Canada’s tax agency has obtained an order to seize debts owed by a Chinese billionaire whose love of Downton Abbey inspired him to pay more than $11 million for an iconic Vancouver mansion in the same year he claimed income of just $9,424. According to a federal court judgment issued …
Read More »Lime raises $523M in convertible debt and term loan financing and says it plans to go public next year (Rebecca Bellan/TechCrunch)
Rebecca Bellan / TechCrunch: Lime raises $523M in convertible debt and term loan financing and says it plans to go public next year — Shared electric micromobility giant Lime has closed a $523 million raise in convertible debt and term loan financing, money that Lime CEO Wayne Ting says is …
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