More importantly are the pre and post affects of financial hardships from bankruptcies. Financial issues are becoming more and more of a trigger for mental illnesses, depression, other ailments, seclusion, ghosting as well as suicide(thoughts and ideation)

Yeah, you hate to see someone blow a golden opportunity like that, which I'm sure a lot of others wish they had. Oh well.

Good work Hankety....

That's the whole idea... it's possible... people just need to know how to navigate the waters....

Just trying to save someone $23,000, their credit report and prevent a needless bankruptcy.

http://www.cbc.ca/news/business/8-myths-of-bankruptcy-1.1014375

According to this article there were 89,026 bankruptcies in Canada for the 12 months ending June 30, 2011.... and there were 45,269 consumer proposals during this time period...

Wow... it also states that over 450,000 Canadians between the ages of 45 and 64, have declared bankruptcy in their life. That seems reasonable... if there were 90,000 bankruptcies in one year alone, it would only take 5 years at that number to reach 450,000 !!! That really speaks to the financial health of the country.... but, .. did we learn anything from it?

These bankruptcies are coming from all walks of life.. all levels of income, etc... Sometimes bad things happen to good people..... or is it just bad planning overall?

It is my opinion that this is the cycle of debt that we'll see in Canada...
There are millions of people who have too much debt.

Here is what I would like to see... if 450,000 people declare bankruptcy or have a consumer proposal, it would be nice if they could share their experience with others, so that we could all learn about what happens when we have too much debt..

What are you thoughts?