Debt Free in 30 314 – Season 7 Premiere: What's Going to Happen with Debt in the Fall?
Welcome to the season 7 premiere of Debt Free in 30. It's only September but it's been an eventful year already, eh? Insolvency filings were high at the start of 2020 but fell to record lows by the month of May. Unemployment is high, but so is the savings rate. How is that possible?
Today we discuss these stats, and look ahead to the Fall. Collection agencies are starting to make more calls, so will insolvencies go back up? The federal government has also announced that the CERB will soon end and transition to EI. Will this be enough for individuals still out of work? That and more on the first show of Season 7; enjoy!
Relevant Links:
Ontario Bankruptcy and Consumer Proposal Statistics: https://www.hoyes.com/press/consumer-insolvency-statistics/
Coping with Consumer Debt as the Economy Reopens: https://www.hoyes.com/blog/coping-with-consumer-debt-as-the-economy-reopens/
Canadian Bankers Association - Facts on Bank Measures in Response to COVID-19: https://cba.ca/fast-facts-on-bank-measures-in-response-to-the-covid-19-pandemic
Retail Trade, June 2020, Statistics Canada: https://www150.statcan.gc.ca/n1/daily-quotidien/200821/dq200821a-eng.htm
Savings, Debt & Modern Monetary Theory with Hilliard MacBeth: https://www.youtube.com/watch?v=Wx_7T6YWT8w
Debt Free in 30 Full Podcast Archives: https://www.hoyes.com/debt-free-30-podcast/