The insolvency rate (consumer bankruptcies, business bankruptcies and proposals) rose by 6.4% in May, 2007 compared with the same month the previous year.

Bill Introduced on May 29, 2007 to Change Student Loan Non-Dischargeability in a Bankruptcy from 10 Years to Two Years.

Insolvency professionals and everyone interested in a fair and just bankruptcy system will be very upset with the proposed change to RRSPs since the change in wording governing the exemption of RRSPs opens the system up to abuse.

The insolvency rate (consumer bankruptcies, business bankruptcies and proposals) rose by 5.3% in April, 2007 compared with the same month the previous year.