In 2012, 122,999 Canadians filed for bankruptcy. If you’ve never filed for bankruptcy, you might assume that these particular Canadians are not at all like you. You’d be wrong. A recent survey of more than 7,000 bankruptcy filings by bankruptcy trustees Hoyes, Michalos & Associates Inc. uncovered some key statistics about those who file for bankruptcy. The reality is that many Canadians have many of the same habits. If something unexpected were to occur to shake their financial stability, they too could let things spiral out of control.
Want to see how you compare? Check out the figures that show where many bankrupt Canadians went wrong in my new article on GoldenGirlFinance.com.