Huge Drop in Insolvencies in April, 2006.

Canada is seen as being easy on corporate crooks. The examples of Livent Corp. and Bre-X Minerals Ltd. are cited to prove this contention.

Canadians’ personal debt is a record $992 billion, which works out to about $30,600 for every man, woman and child in Canada. However, this is offset by household debt’s decline relative to net worth.

In the few cases where we find a well researched and even handed story we are very pleased — and surprised.

A March, 2006 study of US debtors, one year after their Chapter 7 discharge, (In Canada, Chapter 7 = personal bankruptcy) reports that one in four debtors was struggling to pay routine bills and one in three debtors reported an overall financial situation similar to, or worse than, when they filed bankruptcy.

Insolvencies Rise Slightly in March, 2006.

The payday loan industry has received much criticism for their near usurious interest rates.