Canadian Household Debts to Hit Record Highs?
Many economic experts are predicting Canadian household debt to reach epic levels, perhaps even record highs. This will have a ripple effect on spending and the ability for the economy to recover.
The expectation is that individuals could have $1.85 in debt for every dollar of disposable income. The previous record high was $1.78.
Now is the time to act if individuals or companies owe you money. Insolvency rates may go higher, leading to a much less likely chance of recovering a judgment. For more information on Small Claims Court, click here.